Chatham Lodging Trust posts Q1 profit

The REIT, which invests in hotels, has interests in two SoFla properties

TRD MIAMI /
May.May 05, 2015 04:30 PM

Chatham Lodging Trust, a Palm Beach-based real estate investment trust, on Tuesday reported $1.4 million in first quarter net income, or 4 cents per share, compared to a loss of $1.7 million, or 7 cents per share, for the same period of 2014.

Chatham, which focuses on high-end extended-stay hotels and premium-branded hotels, owns 131 hotels in whole or through joint ventures. In South Florida, Chatham has interests in Courtyard Marriott Fort Lauderdale North/Cypress Creek and Courtyard West Palm Beach Airport.

During the first quarter of this year, Chatham acquired the 240-suite Residence Inn San Diego Downtown-Gaslamp District for $90 million, according to its quarterly earnings report.

Cushman & Wakefield announced in March that Chatham and its independent management firm Island Hospitality had signed a 27,516-square-foot lease at Esperanté Tower in West Palm Beach.  The firms, which are currently based in Palm Beach, have not yet made the move, The Real Deal has learned.

Last week, REITs Duke Realty and Franklin Street Properties posted improved first quarter earnings, while Equity One’s net income dropped, compared to the first quarter of 2014. Each of the REITs has significant holdings in South Florida.


Related Articles

arrow_forward_ios
(Illustration by Andrew Colin Beck)

These highly leveraged real estate firms could feel the squeeze in a downturn

GEO Group expects to boost revenue in 2019 after ICE budget grows

GEO Group expects to boost revenue in 2019 after ICE budget grows

Miami skyline (Credit: Pixabay, publicdomainvectors.org)

Vets from LNR Property, Canyon Partners join forces to create new REIT

St. Regis resort in Aspen to become first U.S. single-asset REIT

St. Regis resort in Aspen to become first U.S. single-asset REIT

Here’s why REIT stocks are on the rise

Here’s why REIT stocks are on the rise

5 trends real estate investors should pay attention to in 2016: VIDEO

5 trends real estate investors should pay attention to in 2016: VIDEO

REITs could benefit from stock index split-off

REITs could benefit from stock index split-off

S&P 500 will break real estate out as its own sector

S&P 500 will break real estate out as its own sector

arrow_forward_ios
Loading...