ASHFORD HOSPITALITY TRUST, INC. (NYSE:AHT) Files An 8-K Regulation FD DisclosureITEM 7.01 REGULATION FD DISCLOSURE.
On October 30, 2017, Ashford Hospitality Trust, Inc. (the “Company”) announced that it has successfully refinanced the mortgage loan on the Hilton Boston Back Bay with an existing outstanding balance totaling approximately $95 million and a final maturity date in January 2018. The new loan totals $97 million with a five-year term. The new loan is non-recourse, provides for a floating interest rate of LIBOR + 2.00%, and continues to be secured by the Hilton Boston Back Bay. This financing is estimated to result in annual interest and principal payments savings of approximately $2.8 million based upon the current forward LIBOR curve. This financing addresses the remaining 2018 maturity for the Company and the next hard maturity is in February 2019.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d)Exhibits
Exhibit NumberDescription
ASHFORD HOSPITALITY TRUST INC ExhibitEX-99.1 2 aht2017refinancepr.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1NEWS RELEASEContact:Deric Eubanks Jordan JenningsJoe Calabrese Chief Financial Officer Investor Relations Financial Relations Board (972) 490-9600 (972) 778-9487(212) 827-3772ASHFORD TRUST COMPLETES REFINANCING OF THE HILTON BOSTON BACK BAYDALLAS,…To view the full exhibit click here
About ASHFORD HOSPITALITY TRUST, INC. (NYSE:AHT)
Ashford Hospitality Trust, Inc. (Ashford), together with its subsidiaries, is an externally advised real estate investment trust (REIT). The Company operates through direct hotel investments segment. It is focused on investing in the hospitality industry with a focus on full-service upscale and upper-upscale hotels in the United States. The Company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership, its operating partnership. Its hotels are operated under the brands of Hilton, Hyatt, Marriott, Starwood and Intercontinental Hotels Group. The Company’s hotels portfolio is asset-managed by Ashford LLC. The Company is focused on direct hotel investments and it may invest in a range of lodging-related assets. Its investments may include direct hotel investments; mezzanine financing through origination or acquisition; first-lien mortgage financing through origination or acquisition, and sale-leaseback transactions.