10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
    • CSR and Sustainability
    • Events
    • Hotel Openings
    • Hotel Operations
    • Human Resources
    • Innovation
    • Market Trends
    • Marketing
    • Mergers & Acquisitions
    • Regulatory and Legal Affairs
    • Revenue Management
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
    • 🇫🇷 French
    • 🇩🇪 German
    • 🇮🇹 Italian
    • 🇪🇸 Spain
  • 📰 Columns
  • About us
10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
    • CSR and Sustainability
    • Events
    • Hotel Openings
    • Hotel Operations
    • Human Resources
    • Innovation
    • Market Trends
    • Marketing
    • Mergers & Acquisitions
    • Regulatory and Legal Affairs
    • Revenue Management
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
    • 🇫🇷 French
    • 🇩🇪 German
    • 🇮🇹 Italian
    • 🇪🇸 Spain
  • 📰 Columns
  • About us

Ashford Trust Refinances Mortgage Loan Secured by Marriott Crystal Gateway Hotel

  • LODGING Staff
  • 7 November 2024
  • 1 minute read
Total
0
Shares
0
0
0

This article was written by Lodging Magazine. Click here to read the original article

DALLAS, Texas—Ashford Hospitality Trust, Inc. announced it has refinanced its mortgage loan secured by the 703-room Marriott Crystal Gateway Hotel located in Arlington, Virginia, which had a final maturity date in November 2026.

The new, non-recourse loan totals $121.5 million and has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR up 4.86 percent. The refinancing resulted in approximately $31 million of excess proceeds that will be used to pay down the company’s strategic financing.

The company had previously announced a reduction in the exit fee on its strategic financing from 15 percent to 12.5 percent of the original loan balance through December 15, 2024, provided that the outstanding loan balance had been reduced to $50 million or less by November 15, 2024. The $31 million pay down along with an additional paydown the company intends to make next week, will result in a loan balance below $50 million, triggering the reduced exit fee.

“We are pleased to complete this refinancing of the Marriott Crystal Gateway and generate significant proceeds to go toward paying down our strategic financing,” commented Stephen Zsigray, Ashford Trust’s president and CEO “We continue to make meaningful progress in our plan to pay off this financing by the end of this year.”

Trending
Dusit adds ninth brand with upper-upscale concept

Advertisement

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing in upper upscale, full-service hotels.

Please click here to access the full original article.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
You should like too
View Post
  • Mergers & Acquisitions

Paddy McKillen awarded £700m in dispute with Qataris over London hotels

  • Cynera Rodricks
  • 26 August 2025
View Post
  • Mergers & Acquisitions

The Castle Hotel in Tamworth sold to private investor 

  • Heather Sandlin
  • 26 August 2025
View Post
  • Mergers & Acquisitions

DoveHill Acquires White Barn Inn

  • LODGING Staff
  • 25 August 2025
View Post
  • Mergers & Acquisitions

Is Ennismore about to go public?

  • m.welsch
  • 25 August 2025
View Post
  • Mergers & Acquisitions

Hunter Hotel Advisors Arranges Sale of Home2 Suites by Hilton Wayne

  • LODGING Staff
  • 22 August 2025
View Post
  • Mergers & Acquisitions

HREC Facilitates Sale of Hampton Inn Denver-International Airport

  • Colin Tessier
  • 22 August 2025
View Post
  • Mergers & Acquisitions

Marcus & Millichap Facilitates Sale of Best Western Plus Royal Mountain Inn & Suites

  • LODGING Staff
  • 21 August 2025
View Post
  • Mergers & Acquisitions

Rocco Forte finds new capital partner to expand in Europe, Middle East

  • Denis Stackeusky
  • 21 August 2025
Sponsored Posts
  • 2025 SOCIETIES Quaterly 3

    View Post
  • The Future of Revenue Management Is Strategic Leadership – LodgIQ

    View Post
  • Case Study: Refinery Hotel Redefines Revenue Management with LodgIQ

    View Post
Last Posts
  • Looking Beyond Data: A Reflection on the Bigger Picture
    • 27 August 2025
  • Scroll, Click, Book: Why the Guest Journey Starts Before They Search
    • 27 August 2025
  • Hyatt Taps Way to Unify Guest Experiences and World of Hyatt Loyalty Program
    • 26 August 2025
  • Bobby’s Burgers by Bobby Flay is expanding internationally for the first time
    • 26 August 2025
  • Hotels Risk Guest Trust by Using ChatGPT with Private Data, Warns Ireckonu
    • 26 August 2025
Sponsors
  • 2025 SOCIETIES Quaterly 3
  • The Future of Revenue Management Is Strategic Leadership – LodgIQ
  • Case Study: Refinery Hotel Redefines Revenue Management with LodgIQ
Contact informations

contact@10minutes.news

Advertise with us
Contact Marjolaine to learn more: marjolaine@wearepragmatik.com
Press release
pr@10minutes.news
10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
  • 📰 Columns
  • About us
Discover the best of international hotel news. Categorized, and sign-up to the newsletter

Input your search keywords and press Enter.