Chatham Puts Up $40M For Savannah Marriott

Law360, New York (December 6, 2013, 12:04 PM EST) -- Chatham Lodging Trust bought the SpringHill Suites by Marriott in downtown Savannah's historic district for $39.8 million, the hotel real estate investment trust said Friday.

The 160-room brick building is next to Savannah's biggest tourist attractions, including the entertainment strips at City Market and River Street. Savannah's Civic Center is across the street as is the Savannah College of Art and Design, which Chatham said will drive redevelopment and attract visitors.

"This hotel matches our strategy perfectly with its infill location, recent construction in 2009, high...
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