Chesapeake Lodging Trust to draw on revolver to fund hotel purchase

By Tali David

Minneapolis, Aug. 9 - Chesapeake Lodging Trust will draw on its revolving credit facility to fund the acquisition of a full-service hotel located in Chicago, according to an 8-K filed with the Securities and Exchange Commission.

It will also use available cash and cash equivalents to help fund the purchase.

Chesapeake Lodging Trust is an Annapolis, Md.-based lodging real estate investment trust focused on investments primarily in upper-upscale hotels and convention markets and select-service and extended-stay hotels. Chesapeake Lodging, LP is the operating partner of Chesapeake Lodging Trust.

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