Chesapeake Lodging's Denver Marriott Collateralizing $70M Loan
Chesapeake Lodging Trust has secured a $70 million mortgage for the 613-key Denver Marriott City Center.
Western National Life Insurance Co. provided a 30-year loan with a 10-year call, at a 4.9 percent fixed-rate annual interest rate. The principal and interest is based on a 30-year amortization. Loan proceeds were used to repay the Maryland-based trust's revolving credit facility and general business purposes.
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