ASHFORD HOSPITALITY TRUST ANNOUNCES REFINANCING OF MORTGAGE LOAN SECURED BY THE RENAISSANCE NASHVILLE HOTEL
Ashford Hospitality Trust (NYSE: AHT) has successfully refinanced the mortgage loan for its 673-room Renaissance Hotel in Nashville, Tennessee. The new non-recourse loan of $218.1 million replaces the previous $267.2 million loan and features significantly improved terms.
The refinancing includes a two-year term with three one-year extension options through September 2030. The interest rate has been reduced from SOFR + 3.98% to SOFR + 2.26%. Additionally, the preferred equity investment was increased by $53.0 million with its rate of return reduced from 14% to 11.14%.
This refinancing demonstrates AHT's ability to secure favorable financing terms in the current market and is expected to generate substantial annual interest expense savings.
Ashford Hospitality Trust (NYSE: AHT) ha rifinanziato con successo il mutuo ipotecario per il suo Renaissance Hotel, 673 camere, a Nashville, Tennessee. Il nuovo mutuo non recourse di 218,1 milioni di dollari sostituisce il precedente mutuo di 267,2 milioni e presenta condizioni significativamente migliorate.
Il rifinanziamento prevede una durata di due anni con tre opzioni di estensione di un anno fino a settembre 2030. Il tasso di interesse è stato ridotto da SOFR + 3,98% a SOFR + 2,26%. Inoltre, l’investimento in capitale preferenziale è stato incrementato di 53,0 milioni di dollari con il tasso di rendimento ridotto dal 14% all’11,14%.
Questo rifinanziamento dimostra la capacità di AHT di ottenere condizioni di finanziamento favorevoli nel mercato attuale e si prevede che generi notevoli risparmi annuali sui costi di interesse.
Ashford Hospitality Trust (NYSE: AHT) ha refinanciado con éxito el préstamo hipotecario de su Renaissance Hotel de 673 habitaciones en Nashville, Tennessee. El nuevo préstamo sin recurso de 218,1 millones de dólares reemplaza al préstamo anterior de 267,2 millones y presenta términos significativamente mejorados.
El refinanciamiento incluye un plazo de dos años con tres opciones de extensión de un año hasta septiembre de 2030. La tasa de interés se ha reducido de SOFR + 3,98% a SOFR + 2,26%. Además, la inversión en capital preferente se incrementó en 53,0 millones de dólares y su rendimiento se redujo del 14% al 11,14%.
Este refinanciamiento demuestra la capacidad de AHT para obtener condiciones de financiamiento favorables en el mercado actual y se espera que genere ahorros sustanciales anuales en gastos por intereses.
Ashford Hospitality Trust (NYSE: AHT)는 테네시주 내슈빌에 위치한 Renaissance Hotel(673실)의 모기지 대출을 성공적으로 재융자했습니다. 새로운 비소구 대출 2억 1810만 달러가 이전의 2억 6720만 달러 대출을 대체하며 조건이 크게 개선되었습니다.
재융자는 2년 기간과 연장 옵션 1년씩 3회의 기간 연장 옵션을 포함하며 2030년 9월까지입니다. 이자율은 SOFR + 3.98%에서 SOFR + 2.26%로 감소했습니다. 또한 우선주 투자도 5300만 달러 증가했고 수익률은 14%에서 11.14%로 하락했습니다.
이번 재융자는 현 시장에서 유리한 금융 조건을 확보하는 AHT의 능력을 보여주며, 연간 이자 비용 절감이 크게 기대됩니다.
Ashford Hospitality Trust (NYSE : AHT) a refinancé avec succès le prêt hypothécaire de son Renaissance Hotel de 673 chambres à Nashville, Tennessee. Le nouveau prêt sans recours de 218,1 millions de dollars remplace l’ancien prêt de 267,2 millions et offre des conditions nettement améliorées.
Le refinancement prévoit une durée de deux ans avec trois options de prolongation d’un an jusqu’en septembre 2030. Le taux d’intérêt est passé de SOFR + 3,98 % à SOFR + 2,26 %. De plus, l’investissement en capitaux propres préférentiels a été porté à 53,0 millions de dollars et son rendement est passé de 14 % à 11,14 %.
Ce refinancement démontre la capacité d’AHT à obtenir des conditions de financement favorables sur le marché actuel et devrait générer d’importantes économies annuelles sur les charges d’intérêts.
Ashford Hospitality Trust (NYSE: AHT) hat den Hypothekendarlehen für sein Renaissance Hotel mit 673 Zimmern in Nashville, Tennessee, erfolgreich refinanziert. Der neue Nicht-Rückzahlungs-Kredit in Höhe von 218,1 Mio. USD ersetzt das zuvor 267,2 Mio. USD und bietet deutlich verbesserte Konditionen.
Die Refinanzierung umfasst eine Zweijahresfrist mit drei Verlängerungsoptionen um je ein Jahr bis September 2030. Der Zinssatz wurde von SOFR + 3,98 % auf SOFR + 2,26 % gesenkt. Zusätzlich wurde die Vorzugsaktieninvestition um 53,0 Mio. USD erhöht und die Rendite von 14 % auf 11,14 % reduziert.
Diese Refinanzierung zeigt AHTs Fähigkeit, im aktuellen Markt günstige Finanzierungskonditionen zu sichern, und dürfte jährliche Zinskosteneinsparungen bringen.
Ashford Hospitality Trust (NYSE: AHT) أتمت بنجاح إعادة تمويل قرض الرهن العقاري لفندق Renaissance الذي يضم 673 غرفة في ناشفيل، تينيسي. القرض الجديد غير المصدر بمبلغ 218.1 مليون دولار يحل محل القرض السابق البالغ 267.2 مليون دولار ويتميز بشروط محسنة بشكل كبير.
يشمل إعادة التمويل مدة سنتين مع ثلاث خيارات تمديد لمدة عام واحد حتى سبتمبر 2030. تم خفض سعر الفائدة من SOFR + 3.98% إلى SOFR + 2.26%. بالإضافة إلى ذلك، زاد الاستثمار في حقوق الملكية الممتازة بمقدار 53.0 مليون دولار مع انخفاض معدل العائد من 14% إلى 11.14%.
يثبت هذا إعادة التمويل قدرة AHT على تأمين شروط تمويل مواتية في السوق الحالي ومن المتوقع أن تحقق وفورات كبيرة في مصروفات الفوائد السنوية.
Ashford Hospitality Trust（NYSE: AHT）已成功为其位于田纳西州纳什维尔的673间客房的 Renaissance 酒店再融资抵押贷款。新的2.181亿美元不可追索贷款取代了之前的2.672亿美元贷款，条款显著改善。
此次再融资包括一个两年期，带有三个各自一年的展期选项，有效至2030年9月。利率从SOFR+3.98%降至SOFR+2.26%。此外，优先股投资增加了5300万美元，其回报率从14%降至11.14%。
这一再融资显示了AHT在当前市场中获得有利融资条件的能力，预计将带来可观的年度利息支出节省。
- Significant reduction in interest rate spread from SOFR + 3.98% to SOFR + 2.26%
- Expected to generate millions in annual interest expense savings
- Preferred equity rate of return reduced from 14% to 11.14%
- Successfully secured favorable financing terms in current market conditions
- Increased preferred equity investment by $53.0 million, potentially adding to the capital structure complexity
Insights
Ashford's refinancing secures better loan terms, lower interest rates, and reduced preferred equity costs, generating significant interest expense savings.
Ashford Trust has successfully restructured its debt on the 673-room Renaissance Nashville Hotel through a strategic refinancing that provides substantial financial benefits. The new
The interest rate spread has been reduced significantly from SOFR +
Equally important is the restructuring of the preferred equity component. While the preferred equity was upsized by
This refinancing reflects a positive trend for hotel REITs as lending markets continue to improve. By reducing its borrowing costs and extending maturities, Ashford is enhancing its financial flexibility and cash flow generation from this significant Nashville property, which represents an important asset in their upper upscale, full-service hotel portfolio.
The new, non-recourse loan has a balance of
In conjunction with the debt refinancing, the preferred equity investment on the property was upsized by
"We are encouraged by the continued improvement of the financing markets, which allowed us to complete this refinancing and will result in millions of dollars in annual interest expense savings," commented Stephen Zsigray, Ashford Trust's President and Chief Executive Officer. "This transaction demonstrates our ability to secure financing on favorable terms in the current market."
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/Remington Hotel Corp.
FAQ
What are the terms of AHT's new Renaissance Nashville Hotel mortgage refinancing?
How much will AHT save with the Renaissance Nashville refinancing?
What changes were made to the preferred equity investment in the Renaissance Nashville deal?
When does the new Renaissance Nashville Hotel loan mature?
