Cerberus, Chatham Joint Venture Seals $130M Loan
The loan is secured by 10 previously uncollateralized hotel properties, Chatham said. The first mortgage and mezzanine nonrecourse financing has a three-year maturity with two one-year extension options and carries an all-in interest rate of 6.9 percent, according to the REIT.
The financing generated about $13.1 million for Chatham, more than $1 per share....
To view the full article, register now.