Ashford Hospitality ( (AHT) ) has issued an update.
Ashford Hospitality Trust has successfully refinanced the mortgage loan for the Marriott Crystal Gateway Hotel in Arlington, Virginia, securing a $121.5 million non-recourse loan with a floating interest rate of SOFR + 4.86%. This refinancing generates $31 million in excess proceeds, which will help reduce the company’s strategic financing loan balance below $50 million, triggering a reduced exit fee. The move is part of Ashford’s ongoing efforts to strategically manage its debt and enhance financial stability.
See more insights into AHT stock on TipRanks’ Stock Analysis page.
