trending Market Intelligence /marketintelligence/en/news-insights/trending/ERGKRfWpaLaAUXYjfYYd4w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Ashford Trust refinances 4 mortgage loans, completes Calif. hotels sale

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Ashford Trust refinances 4 mortgage loans, completes Calif. hotels sale

Ashford Hospitality Trust Inc. said it refinanced four mortgage loans with a total outstanding balance of about $415 million with a new $450 million loan.

The new loan carries a two-year initial term and four one-year extension options. The interest-only loan carries a floating interest rate of LIBOR plus 4.55%.

The loan is secured against 18 hotels and replaces three Wachovia mortgage loans maturing in April 2017 and a JP Morgan Chase Marriott Fremont loan maturing in August 2019.

The company also completed the sale of two hotels in Palm Desert, Calif., for $36 million. The properties include the 151-room Courtyard Palm Desert and the 130-room Residence Inn Palm Desert. Net proceeds from the sales amounted to about $11 million. An existing debt balance of about $24 million on the hotels was assumed by the buyer.