Chesapeake Lodging Trust refinances $60M hotel mortgage

|About: Chesapeake Lodging Trust (CHSP)|By:, SA News Editor

The $60M loan secured by two NYC hotels matured today and was refinanced with a new 10-year $90M mortgage carrying an interest rate of 4.3%. The loan is interest-only for two years.

The cash-out money was used to pay down CHSP's revolving credit line.