ASHFORD HOSPITALITY TRUST, INC. (NYSE:AHT) Files An 8-K Regulation FD DisclosureITEM 7.01 REGULATION FD DISCLOSURE.
On January 17, 2018, Ashford Hospitality Trust, Inc. (the “Company”) announced that it has successfully refinanced a mortgage loan with an existing outstanding balance of approximately $377 million. The previous mortgage loan that was refinanced was the BAML 1 & 2 Pool loan with a final maturity date in January 2020. The new loan totals $395 million and is expected to result in annual interest savings of approximately $6.5 million.
The new mortgage loan has a two-year initial term and five one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of LIBOR + 3.00%. The loan is secured by eight hotels: Embassy Suites Portland, Embassy Suites Crystal City, Embassy Suites Orlando, Embassy Suites Santa Clara, Crowne Plaza Key West, Hilton Costa Mesa, Sheraton Minneapolis, and Historic Inns of Annapolis.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d)Exhibits
Exhibit NumberDescription
ASHFORD HOSPITALITY TRUST INC ExhibitEX-99.1 2 aht2018refinancepr1-17×18.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 8-HOTEL PORTFOLIODALLAS,…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.