Ashford Hospitality Trust announced that it has successfully extended its mortgage loan secured by the 141-room Hotel Indigo Atlanta Midtown in Atlanta, Georgia. The loan had a final maturity date in December 2024.
The extension provides for an initial maturity in February 2026, with a one-year extension option, subject to the satisfaction of certain conditions. This pushes the final maturity date to February 2027.
The loan has a current balance of $12.3 million and continues to bear interest at a floating rate of SOFR + 2.85%. This extension provides continued financial stability for the property.
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