PITTSBURGH-Chatham Lodging Trust has inked a deal to purchase an expensive extended-stay hotel situated in Pittsburgh, Pennsylvania, for an amount of $24.9 million. This will be the 14th property acquisition for the hotel real estate investment trust.
Part of the acquisition will be funded through an existing mortgage loan of $7.3 million. Once the acquisition is complete, Island Hospitality Management will operate the hotel. The closing of the acquisition is dependent on the approval of the lender. For the full story, go to Florida Real Estate Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
