ASHFORD HOSPITALITY TRUST ANNOUNCES EXTENSION OF MORTGAGE LOAN SECURED BY THE HOTEL INDIGO ATLANTA MIDTOWN

Rhea-AI Summary

Ashford Hospitality Trust (NYSE: AHT) has successfully extended its mortgage loan for the Hotel Indigo Atlanta Midtown, a 141-room property in Atlanta, Georgia. The loan, with a current balance of $12.3 million, has been extended from its original December 2024 maturity to February 2026, with an additional one-year extension option available until February 2027, subject to certain conditions.

The loan maintains its floating interest rate of SOFR + 2.85%. This extension represents a significant debt management milestone for the REIT, which specializes in investing predominantly in upper upscale, full-service hotels.

Positive

• Successful extension of $12.3M mortgage loan maturity by 14 months
• Additional 12-month extension option available until 2027
• Maintained same interest rate terms (SOFR + 2.85%)

Negative

• Floating rate exposure remains, creating potential interest rate risk

DALLAS, Feb. 26, 2025 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has successfully extended its mortgage loan secured by the 141-room Hotel Indigo Atlanta Midtown in Atlanta, Georgia. The loan had a final maturity date in December of 2024. The extension provides for an initial maturity in February of 2026 and a one-year extension option, subject to the satisfaction of certain conditions, with a final maturity date in February 2027.  The loan has a current balance of $12.3 million and continues to bear interest at a floating rate of SOFR + 2.85%.

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

Forward-Looking Statements

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 federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: Our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business.. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.

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 will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.

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SOURCE Ashford Hospitality Trust, Inc.

FAQ

What are the new maturity terms for AHT's Hotel Indigo Atlanta Midtown mortgage loan?

The loan's initial maturity is extended to February 2026, with a one-year extension option until February 2027, subject to certain conditions.

What is the current balance and interest rate of AHT's Hotel Indigo Atlanta mortgage?

The loan has a $12.3 million balance with a floating interest rate of SOFR + 2.85%.

How many rooms does the Hotel Indigo Atlanta Midtown property have?

The Hotel Indigo Atlanta Midtown has 141 rooms.

When was the original maturity date of AHT's Hotel Indigo Atlanta mortgage?

The original loan maturity date was in December 2024.