DALLAS, March 26, 2015 /PRNewswire/ -- Ashford
Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the
"Company") announced today it has successfully closed a
$33.3 million mortgage loan for the
previously-closed acquisition of the 232-room Marriott Memphis East
hotel.
The new loan is interest only and provides for a floating
interest rate of LIBOR + 4.95%, with no LIBOR floor. The
financing has a two-year term and three, one-year extension
options, subject to the satisfaction of certain
conditions.
"This latest financing of the Marriott Memphis East is another
example of our team's ability to access debt capital on favorable
terms," said Monty J. Bennett,
Ashford Trust's Chairman and Chief Executive Officer. "We
continue to capitalize on the attractive debt capital markets to
strengthen our liquidity position and maximize our
flexibility."
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing opportunistically in the hospitality
industry across all segments and at all levels of the capital
structure primarily within the United States.
Follow Chairman and CEO Monty
Bennett on Twitter at www.twitter.com/MBennettAshford or
@MBennettAshford.
Ashford has created an Ashford App for the hospitality REIT
investor community. The Ashford App is available for free
download at Apple's App Store and
the Google Play Store by searching "Ashford."
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and
uncertainties. When we use the words "will likely result,"
"may," "anticipate," "estimate," "should," "expect," "believe,"
"intend," or similar expressions, we intend to identify
forward-looking statements. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
Ashford Trust's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: general volatility of the capital markets and the
market price of our common stock; changes in our business or
investment strategy; availability, terms and deployment of capital;
availability of qualified personnel; changes in our industry and
the market in which we operate, interest rates or the general
economy; and the degree and nature of our competition. These
and other risk factors are more fully discussed in Ashford Trust's
filings with the Securities and Exchange Commission.
The forward-looking statements included in this press release
are only made as of the date of this press release. Investors
should not place undue reliance on these forward-looking
statements. We are not obligated to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or circumstances, changes in
expectations or otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ashford-trust-closes-333-million-loan-on-marriott-memphis-east-300056691.html
SOURCE Ashford Hospitality Trust, Inc.