Braemar Hotels & Resorts Inc. announced on March 10, 2025, the successful closing of a $363 million refinancing involving five of its hotels. This transaction addresses the company's only remaining final debt maturity for 2025, significantly improving its financial flexibility.
The new loan has a two-year initial term with three one-year extension options, extending the final maturity to 2030. It bears a floating interest rate of SOFR + 2.52%, which represents a lower cost of capital compared to the previous loans it refinanced.
The refinancing covered a $293.2 million loan (SOFR + 2.66%, June 2025 maturity) and a $62 million loan (SOFR + 4.75%, March 2026 maturity), secured by The Clancy, The Notary Hotel, Marriott Seattle Waterfront, Sofitel Chicago Magnificent Mile, and The Ritz-Carlton Reserve Dorado Beach. This move enhances the company's maturity schedule and reduces overall interest expenses.
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.