ASHFORD HOSPITALITY TRUST ANNOUNCES EXTENSION OF HIGHLAND LOAN
Ashford Hospitality Trust (NYSE: AHT) has successfully extended its Highland mortgage loan, which is secured by 18 hotels. The loan's maturity date has been extended from April 9, 2025, to January 9, 2026, with an additional six-month extension option to July 9, 2026, subject to certain conditions.
As part of the extension agreement, the loan was reduced to $733.6 million, representing approximately 68% of the appraised value. The Highland pool of assets, recently appraised at nearly $1.1 billion, is the most valuable in Ashford Trust's portfolio. The loan now carries a floating interest rate of SOFR + 4.13%.
Ashford Hospitality Trust (NYSE: AHT) ha esteso con successo il suo prestito ipotecario Highland, garantito da 18 hotel. La scadenza del prestito è stata prorogata dal 9 aprile 2025 al 9 gennaio 2026, con un'opzione di ulteriore estensione di sei mesi fino al 9 luglio 2026, soggetta a determinate condizioni.
Come parte dell'accordo di estensione, l'importo del prestito è stato ridotto a 733,6 milioni di dollari, corrispondenti a circa il 68% del valore stimato. Il portafoglio Highland, recentemente valutato a quasi 1,1 miliardi di dollari, è il più prezioso nel portafoglio di Ashford Trust. Il prestito ora prevede un tasso di interesse variabile di SOFR + 4,13%.
Ashford Hospitality Trust (NYSE: AHT) ha extendido con éxito su préstamo hipotecario Highland, garantizado por 18 hoteles. La fecha de vencimiento del préstamo se ha extendido del 9 de abril de 2025 al 9 de enero de 2026, con una opción adicional de extensión de seis meses hasta el 9 de julio de 2026, sujeta a ciertas condiciones.
Como parte del acuerdo de extensión, el préstamo se redujo a 733,6 millones de dólares, representando aproximadamente el 68% del valor tasado. La cartera Highland, recientemente valorada en casi 1,1 mil millones de dólares, es la más valiosa en el portafolio de Ashford Trust. El préstamo ahora tiene una tasa de interés variable de SOFR + 4,13%.
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Ashford Hospitality Trust (NYSE : AHT) a réussi à prolonger son prêt hypothécaire Highland, garanti par 18 hôtels. La date d'échéance du prêt a été repoussée du 9 avril 2025 au 9 janvier 2026, avec une option de prolongation supplémentaire de six mois jusqu'au 9 juillet 2026, sous certaines conditions.
Dans le cadre de cet accord de prolongation, le montant du prêt a été réduit à 733,6 millions de dollars, représentant environ 68 % de la valeur estimée. Le portefeuille Highland, récemment évalué à près de 1,1 milliard de dollars, est le plus précieux du portefeuille d'Ashford Trust. Le prêt porte désormais un taux d'intérêt variable de SOFR + 4,13%.
Ashford Hospitality Trust (NYSE: AHT) hat erfolgreich seinen Highland-Hypothekendarlehen verlängert, der durch 18 Hotels besichert ist. Das Fälligkeitsdatum des Darlehens wurde vom 9. April 2025 auf den 9. Januar 2026 verlängert, mit einer zusätzlichen sechsmonatigen Verlängerungsoption bis zum 9. Juli 2026, vorbehaltlich bestimmter Bedingungen.
Im Rahmen der Verlängerungsvereinbarung wurde das Darlehen auf 733,6 Millionen US-Dollar reduziert, was etwa 68 % des geschätzten Wertes entspricht. Der Highland-Asset-Pool, der kürzlich mit fast 1,1 Milliarden US-Dollar bewertet wurde, ist der wertvollste im Portfolio von Ashford Trust. Das Darlehen trägt nun einen variablen Zinssatz von SOFR + 4,13%.
- Highland pool assets recently appraised at a substantial $1.1 billion
- Loan-to-value ratio improved to 68% after paydown
- Successfully secured extension providing additional time for potential interest rate improvements
- Option for additional 6-month extension to July 2026
- Significant debt burden with $733.6 million outstanding loan balance
- Exposure to floating interest rates with SOFR + 4.13% terms
- Required loan paydown to secure extension
Insights
AHT secures critical loan extension on its crown jewel assets, buying time for potentially better refinancing terms amid expected rate cuts.
This Highland loan extension represents a significant debt management win for Ashford Trust. With the loan balance now at
The timing of this extension is strategically important. By pushing the maturity forward, management is positioning to capitalize on widely anticipated interest rate cuts, which would substantially improve the economics of any future refinancing. The current terms - SOFR plus
What's particularly notable is the quality of the underlying collateral. These 18 Highland-portfolio hotels recently appraised at nearly
This extension effectively derisks AHT's near-term debt maturity profile while creating optionality to benefit from more favorable capital market conditions in 2026. For a REIT operating in the capital-intensive hospitality sector, proactively managing large debt maturities represents prudent financial stewardship.
"We are pleased to announce the extension of the Highland loan," commented Stephen Zsigray, Ashford Trust's president and chief executive officer. "Having recently appraised for nearly
As part of the extension, the loan was paid down to a current balance of
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.
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SOURCE Ashford Hospitality Trust, Inc.