Jan
21
Ashford Trust Refinances 8-Hotel Portfolio
BySecured by assets across several states, the previous mortgage loan had an outstanding balance of roughly $377 million and was due to mature in 2020.
For the third time in three months, Ashford Hospitality Trust Inc. has refinanced a mortgage loan. In the latest transaction, the Dallas-based REIT refinanced a mortgage loan that had an outstanding balance of approximately $377 million and was secured by eight hotels.
The original loan was part of the BAML 1 & 2 Pool loan with a maturity date of January 2020. The REIT said the new loan totals $395 million and should result in annual interest savings of about $6.5 million…
