CHATHAM LODGING TRUST (Form: 8-K)

0001299933-12-000513.txt : 20120229 0001299933-12-000513.hdr.sgml : 20120229 20120229172729 ACCESSION NUMBER: 0001299933-12-000513 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120229 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120229 DATE AS OF CHANGE: 20120229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Chatham Lodging Trust CENTRAL INDEX KEY: 0001476045 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 271200777 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34693 FILM NUMBER: 12654598 BUSINESS ADDRESS: STREET 1: 50 COCOANUT ROW STREET 2: SUITE 200 CITY: PALM BEACH STATE: FL ZIP: 33480 BUSINESS PHONE: (561) 802-4477 MAIL ADDRESS: STREET 1: 50 COCOANUT ROW STREET 2: SUITE 200 CITY: PALM BEACH STATE: FL ZIP: 33480 8-K 1 htm_44389.htm LIVE FILING CHATHAM LODGING TRUST (Form: 8-K)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of Earliest Event Reported):		February 29, 2012

CHATHAM LODGING TRUST
__________________________________________
(Exact name of registrant as specified in its charter)


Maryland	001-34693	27-1200777
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)

50 Cocoanut Row, Suite 216, Palm Beach, Florida		33480
_________________________________ (Address of principal executive offices)		___________ (Zip Code)


Registrant’s telephone number, including area code:		(561) 802-4477

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 8.01 Other Events.

On February 29, 2011, Chatham Lodging Trust ("Chatham") issued a press release announcing that it had received distributions of $13.1 million from the joint venture between Chatham and Cerberus.

A copy of the press release is attached hereto as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 - Chatham Lodging Trust Announces Distributions of $13.1 Million from Joint Venture

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	CHATHAM LODGING TRUST

February 29, 2012	By:	Dennis M. Craven

		Name: Dennis M. Craven
		Title: Chief Financial Officer

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Exhibit Index


Exhibit No.		Description

99.1		Chatham Lodging Trust Announces Distributions of $13.1 Million from Joint Venture

EX-99.1 2 exhibit1.htm EX-99.1 EX-99.1


For Immediate Release Contact:
Dennis Craven (Company) Chief Financial Officer (561) 227-1386		Jerry Daly or Carol McCune Daly Gray (Media) (703) 435-6293

Chatham Lodging Trust Announces Distributions of $13.1 Million from Joint Venture

Joint Venture Distribution Returns 35 Percent of Initial Investment

PALM BEACH, Fla., February 29, 2012—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium-branded select-service hotels, announced today that the joint venture between Chatham and Cerberus Capital Management LP, which owns 64 hotels with 8,329 rooms/suites, closed on a $130 million mortgage loan secured by 10 previously unemcumbered hotels comprising 1,707 rooms. Eastdil Secured, L.L.C. arranged the $130 million first mortgage and mezzanine non-recourse financing with lenders Citibank, N.A., Wells Fargo Bank, National Association and an affiliate of Starwood Property Trust, Inc. The maturity of the facilities is three years with two one-year extension options and carries an all-in interest rate of 6.9 percent.

In addition to net proceeds from the financing, additional cash generated from operations was distributed to the partners, resulting in a distribution to Chatham of approximately $13.1 million, or more than $1 per share. The $13.1 million distribution represents 35 percent of the company’s initial $37 million investment. Chatham willuse part of the distribution to pay down borrowings outstanding on its senior secured credit facility.

“We believe the joint venture is going to be very successful for Chatham, Cerberus and our shareholders, and this is a first step toward optimizing our equity investment returns in the joint venture,” said Dennis Craven, Chatham’s chief financial officer. “The joint venture has now returned over $1 per share in cash to Chatham. Our remaining equity investment in the joint venture is approximately $24 million, and we are excited about the expected future returns to Chatham shareholders from this remaining investment.”

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised REIT that was organized to invest in upscale extended-stay hotels and premium-branded, select-service hotels. The company currently owns 18 hotels with an aggregate of 2,414 rooms/suites in 10 states and the District of Columbia and holds a minority investment in a joint venture that owns 64 hotels with 8,329 rooms/suites. Additional information about Chatham may be found at www.chathamlodgingtrust.com.

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