$1B Hotel Portfolio From Chatham, Cerberus On Sales Block

Law360, New York (January 24, 2014, 4:54 PM EST) -- About three years after purchasing bankrupt Innkeepers USA Trust's assets for $1.02 billion, a joint venture of Chatham Lodging Trust and private equity firm Cerberus Capital Management LP has decided to put the portfolio's remaining 51 hotels on the sales block, the companies announced Friday.

The companies have hired Eastdil Secured LLC to market the portfolio of properties, which has been whittled down from its original size of 64 hotels. The joint venture has decided to go with a broker to reach out to the broadest...
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