Friday, November 12, 2010
PALM BEACH, FL, Nov. 12, 2010 - Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, today announced that it is commencing an underwritten public offering of 7 million common shares.
The company expects to grant the underwriters a 30-day option to purchase up to 1,050,000 additional common shares to cover overallotments, if any.
The company intends to use the net proceeds of the offering to repay debt under its secured revolving credit facility, to acquire additional hotels and for general business purposes.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This announcement shall not constitute an offer to sell or a solicitation of an offer to buy the company’s common shares, nor shall there be any sale of these common shares or a solicitation of an offer to buy these common shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Barclays Capital and UBS Investment Bank are acting as the joint book-running managers for the offering.
FBR Capital Markets is acting as the joint lead manager and Morgan Keegan & Company, Inc., Credit Agricole CIB, Piper Jaffray, Stifel Nicolaus Weisel and JMP Securities are acting as co-managers.
A copy of the prospectus can be obtained by contacting Barclays Capital, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y. 11717, telephone (888) 603-5847 or by e-mail at email@example.com, or UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, N.Y. 10171 or by telephone at (888) 827-7275.
The prospectus may also be obtained by contacting any of the other underwriters listed above.
PALM BEACH, FL, Nov. 12, 2010—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium branded select-service hotels, has cancelled its presentation and webcast at the NAREIT REITWorld Annual Convention, originally scheduled for Monday, November 15, 2010.
Chatham announced earlier today that it is commencing an underwritten public offering of 7 million common shares and, in accordance with SEC rules, is prohibited from making any public comments about the company.
Jerry Daly, Carol McCune, Daly Gray Public Relations, (Media),
(703) 435-6293, firstname.lastname@example.org
Dennis Craven, Chief Financial Officer, Company), (561) 227-1386 email@example.com
NEW YORK CITY, NY – Nov. 12, 2010 – The Best Western Bowery Hanbee Hotel (top left photo), located in downtown New York City, has received the Best Western Chairwoman’s Award, the chain’s highest honor for outstanding quality standards.
The Chairwoman’s Award recognizes Best Western International hotels with a cleanliness and maintenance inspection score of 988 points out of a possible 1,000, placing the hotel in the top five percent of all 2,400 Best Western hotels.
The hotel also had to meet Best Western’s requirements for design and high customer satisfaction scores in order to qualify.
“Receiving this award is a tremendous honor,” said General Manager Raymond Sun. “The Best Western Bowery Hanbee Hotel is committed to providing quality accommodations and service for our guests.
"Our staff has worked very hard to achieve this level of excellence and we are delighted to receive this important symbol of distinction from Best Western.”
The Best Western Bowery Hanbee Hotel is located at 231 Grand Street in the heart of downtown New York City.
Built in 2008, the hotel is ideally situated between Chinatown and Little Italy in Lower Manhattan, surrounded by some of the most vibrant New York City neighborhoods such as Tribeca (middle left photo), Soho (top right photo) and the Lower East Side (bottom right photo). Abundant subway access is a few blocks from the hotel.
City Hall, Battery Park, Trinity Church and PACE University are within walking distance. All 102 guestrooms feature a modern, comfortable design with 32-inch flat panel TVs and high-speed Internet access. The 100% non-smoking hotel also offers complimentary continental breakfast, Wi-Fi in the lobby, and a fitness center.
The Best Western Bowery Hanbee Hotel is operated by Interstate Hotels & Resorts (www.ihrco.com), the nation’s largest independent hotel management company.
For more information about the Best Western Bowery Hanbee Hotel in New York City, visit www.bw-boweryhanbeehotel.com.
Raymond Sun, General Manager
Best Western Bowery Hanbee Hotel
(212) 925-1177 / firstname.lastname@example.org
ORLANDO, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,100,000 for Southpointe Center and Temple Village Plaza.
Doug Rozzell (top right photo), Company Principal, secured financing for Southpointe Center through Thomas D. Wood and Company’s correspondent relationship with Woodmen of the World Life Insurance Company in the amount of $2,500,000.
The borrower, an affiliate of Pineloch Management Corporation, refinanced Southpointe Center at a loan with a low, fixed rate of 5.5%.
The non-recourse, permanent loan has a term of 10 years, based on a 20-year amortization. The loan-to-value is 64%. The 37,250 square-foot office/industrial building was built in 1987, and is located at 345 and 379 W. Michigan St., Orlando, Florida.
Jeff Schnupp (middle left photo), Company Vice President, secured financing for Temple Village Plaza through Thomas D. Wood and Company’s relationship with a local bank in the amount of $1,100,000.
The fixed-rate loan has a term of five years, based on a 20-year amortization and an interest rate of 6.25%. The loan-to-value is 45%.
The 13,144 square-foot multi-tenant retail plaza was built in 1967, with an addition added in 1985, and is home to major tenant Pizza Hut. Temple Village Plaza is located at 2335 Temple Trail, Winter Park, Florida.
For further information, please contact:
Doug Rozzell, (407) 937-0470, email@example.com
Jeff Schnupp, (407) 937-0470, firstname.lastname@example.org
Jessica Kinnee, (407) 937-0470, email@example.com
LONGWOOD, FL, Nov. 10, 2010 — Stephen Jones (top right photo) has joined D & A Building Services Inc. as Government Sales Specialist.
In the newly created position, Jones is responsible for expanding the facility maintenance company’s national public sector business with municipal and state governments, federal agencies and the military.
He has a 20-year career as president of NCLN20, Inc., a government procurement consultancy with offices in California, New York, Georgia, Arizona and Florida. Jones will operate from D & A’s Longwood, Florida, headquarters.
“We are fortunate to have a government contracts expert join our staff to lead our public sector expansion efforts,” said Al Sarabasa, Jr. (middle left photo), president/CEO, D & A Building Services.
LONGWOOD, Fla., Nov. 10, 2010 — D & A Building Services Inc. has secured a window cleaning contract at Dallas Love Field (bottom left photo).
Under the scope of its contract, D & A is providing exterior window washing services to the City of Dallas, the airport’s owner. The staff at D & A’s Dallas branch office will perform work on this contract.
D & A Building Services, one of the largest Hispanic owned businesses in the nation, established its Dallas office in 2008, and currently employs a staff of 20 cleaning specialists
For additional information, please visit http://www.dabuildingservices.com/
PR Contact: Elaine Ingra, (407) 384-1344 firstname.lastname@example.org
Uniondale, NY (Nov. 12, 2010) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,690,000 loan under the Fannie Mae DUS® Small Loan product line for the 18-unit complex known as 1866 Greenfield Apartments (top left photo) in Los Angeles, CA.
The 10-year loan amortizes on a 30-year schedule.
The loan was originated by Ronen Abergel (bottom right photo), Director, in Arbor’s full-service New York, NY, lending office.
Contact: Christopher Ostrowski, email@example.com