DALLAS, May 24, 2017 /PRNewswire/ -- Ashford
Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the
"Company") announced today that it has successfully refinanced the
mortgage loan secured by the Hotel Indigo Atlanta Midtown with an
existing outstanding balance totaling approximately $15.6 million and a final maturity date in June
2017. The new non-recourse loan totals $16.1 million with a three-year term and two,
one-year extension options subject to the satisfaction of certain
conditions. The loan carries an interest rate of LIBOR +
2.90% and is interest only for the first two years with a 30-year
amortization schedule based on a 6% interest rate starting in the
third year.
"Having now refinanced all of our 2017 maturities on what we
believe to be attractive debt terms, we are looking ahead and have
already commenced work on the only loan we have coming due in
2018," said Douglas A. Kessler,
Ashford Trust's President and Chief Executive Officer.
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing opportunistically in the hospitality
industry in upper upscale, full-service hotels.
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: timing of closing of the transaction and
satisfaction of conditions to closing, 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.
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visit:http://www.prnewswire.com/news-releases/ashford-trust-completes-refinancing-of-hotel-indigo-atlanta-300463558.html
SOURCE Ashford Hospitality Trust, Inc.