Ashford Hospitality Trust announced that it has successfully extended its Morgan Stanley Pool mortgage loan, which is secured by 17 hotels. The loan had an original final maturity date in November 2024.
The extension provides for an initial maturity in March 2026, with two one-year extension options, subject to the satisfaction of certain conditions. This pushes the final maturity date to March 2028.
The loan has a current balance of $409.8 million and continues to bear interest at a floating rate of SOFR + 3.39%. The extension also provides added flexibility for the company to release assets upon sale, and with this extension, approximately 60% of Ashford Trust's outstanding debt now has final maturities in 2027 and beyond.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.