Braemar Hotels (NYSE: BHR) secures new $180M Four Seasons Scottsdale loan

Rhea-AI Filing Summary

Braemar Hotels & Resorts Inc. refinanced the mortgage loan on the Four Seasons Resort Scottsdale at Troon North. The prior loan had a $140 million balance, carried interest at SOFR + 3.75%, and was scheduled to mature in December 2028.

The new non-recourse loan from Aareal Capital Corporation has a $180 million balance and a lower spread of SOFR + 3.00%. It features a three-year initial term with two additional one-year extension options, which are available if certain conditions are satisfied.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): August 18, 2025

BRAEMAR HOTELS & RESORTS INC.

(Exact name of registrant as specified in its charter)

Maryland

001-35972

46-2488594

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(IRS employer identification number)

14185 Dallas Parkway

Suite 1200

Dallas

Texas

75254

(Address of principal executive offices)

(Zip code)

Registrant’s telephone number, including area code: (972) 490-9600

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

BHR

New York Stock Exchange

Preferred Stock, Series B

BHR-PB

New York Stock Exchange

Preferred Stock, Series D

BHR-PD

New York Stock Exchange

ITEM 7.01     REGULATION FD DISCLOSURE.

On August 18, 2025, Braemar Hotels & Resorts Inc. (the “Company”) issued a press release announcing that it has successfully refinanced the existing mortgage loan secured by the Four Seasons Resort Scottsdale at Troon North. The previous loan had a balance of $140 million with an interest rate of SOFR + 3.75% and a final maturity in December 2028.

The new non-recourse loan has a balance of $180 million and bears interest at a floating rate of SOFR + 3.00%. The lender is Aareal Capital Corporation. The new loan has a three-year initial term with two, one-year extension options, subject to the satisfaction of certain conditions.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Form 8-K and Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

Exhibit

Number     Exhibit Description

99.1    Press Release of the Company, dated August 18, 2025

104    Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

			BRAEMAR HOTELS & RESORTS INC.
Dated: August 18, 2025			By:			/s/ Deric S. Eubanks
						Deric S. Eubanks
						Chief Financial Officer

FAQ

What loan refinancing did Braemar Hotels & Resorts Inc. (BHR) announce?

Braemar Hotels & Resorts Inc. refinanced the mortgage on the Four Seasons Resort Scottsdale at Troon North. The company replaced its prior $140 million loan with a new $180 million non-recourse loan featuring different interest and maturity terms.

What were the terms of Braemar Hotels’ previous Scottsdale resort mortgage?

The previous mortgage loan on the Four Seasons Resort Scottsdale at Troon North had a $140 million balance. It bore interest at a floating rate of SOFR + 3.75% and had a final maturity date in December 2028 under its existing structure.

What are the key terms of Braemar Hotels’ new $180 million loan?

The new non-recourse loan on the Four Seasons Resort Scottsdale at Troon North has a $180 million balance. It carries a floating interest rate of SOFR + 3.00% and includes a three-year initial term with two one-year extension options subject to certain conditions.

Who is the lender for Braemar Hotels’ new Scottsdale resort mortgage?

The lender for the new mortgage loan on the Four Seasons Resort Scottsdale at Troon North is Aareal Capital Corporation. This new financing replaces the company’s prior loan while changing both the balance and interest rate spread on the property’s debt.

How long can Braemar Hotels’ new Scottsdale loan remain outstanding?

The new loan has a three-year initial term for Braemar Hotels & Resorts Inc. It also includes two separate one-year extension options, which can be exercised only if specified conditions are satisfied, potentially extending the loan’s total duration beyond the initial term.