Cerberus, Chatham Lodging (CLDT) Win $1.125B Innkeepers USA Bid
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Cerberus Capital Management, L.P. and Chatham Lodging Trust (NYSE: CLDT) have formed a joint venture that was selected as the winning bidder in the bankruptcy court auction related to 64 Innkeepers USA Trust hotels.
Under the terms of the winning bid, the newly-formed joint venture agreed to purchase the hotels for a total purchase price of approximately $1.125 billion, including the assumption of debt.
Barclays Capital acted as financial advisor to Chatham.
Under the terms of the winning bid, the newly-formed joint venture agreed to purchase the hotels for a total purchase price of approximately $1.125 billion, including the assumption of debt.
Barclays Capital acted as financial advisor to Chatham.
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