DENVER-Chesapeake Lodging Trust, a real estate investment trust based in Annapolis, Maryland, has received a fixed-rate mortgage loan amounting $70 million from Western National Life Insurance Co. Denver Marriott City Center, a 613-room hotel located in Denver, secured the 30-year loan.
Proceeds from the mortgage loan were used to settle debt and for other business purposes. Chesapeake Lodging bought the hotel in 2011 for $119 million. For the full story, go to Baltimore Business Journal .
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