Chesapeake REIT Secures $130M Loan

Chesapeake Lodging Trusthas secured a credit facility worth $130 million. The three year term loan is secured by theLe Meridien San Franciscoin California and theW Chicago -- City Centerlocated in Chicago, Illinois.

The real estate investment trust (REIT) has used the proceeds from the loan to prepay its previous $60 million term loan, repay outstanding borrowings under its revolving credit facility and for general business purposes.Wells Fargo Bankis the provider of the credit facility.

Click here for the release fromBusiness Wire.