Chatham Lodging Trust has closed on a 51-property portfolio acquisition from Cerberus Capital Management in a deal valued at $1.3 billion. Chatham acquired the 6,848-key portfolio via two separate deals: It bought out Cerberus’ stake in 47 extended-stay and select-service hotels in a joint venture, and it acquired four Residence Inn by Marriott properties. Read the GlobeSt.com story here

