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ANNAPOLIS, MD-Chesapeake Lodging Trust has closed on a $130 million three-year term loan, secured by two hotels the REIT acquired over the past six months. One is the 368-room Le Meridien San Francisco and the other is the 360-key W Chicago–City Center. Wells Fargo Bank, N.A. provided the loan, which, subject to certain conditions, provides for two one-year extensions. A call to Chesapeake was not returned in time for publication.

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