(Mark your calendars: RealShare HOTELS 2011, Sept. 15 at the Hilton New York, and don't forget RealShare New York takes place Oct. 12 at the Marriott Marquis.)

NEW ROCHELLE, NY-Hotel REIT Chatham Lodging Trust closed on a $15.8 million fixed-rate mortgage loan for the 124-room Residence Inn by Marriott at 35 LeCount Place in downtown New Rochelle, making it the eighth individual property loan in the company’s portfolio. The transaction was handled by the Sonnenblick-Eichner Co., which arranged the first mortgage non-recourse financing for the extended stay hotel, located 20 miles from Manhattan in Westchester County.

The 10-year loan was provided by Alabama-based Regions Bank and carries a fixed interest rate of 5.75% per annum, with principal and interest based on a 25-year amortization. According to Chatham, proceeds from the loan will be used to repay outstanding borrowing under the company’s secured revolving credit facility and for general business purposes.