Ashford Hospitality gets $212 million in fixed-rate loans

By Sara Rosenberg

New York, Nov. 18 - Ashford Hospitality Trust Inc. closed on a new $212 million fixed-rate financing used to replace $210 million in floating-rate debt, according to a company news release.

UBS Real Estate Investments Inc. led the new financing.

The new loan consists of a $111 million nine-year loan at an interest rate of 5.75% and a $101 million 10-year loan at an interest rate of 5.70%.

This new debt replaces the company's previous floating-rate debt that carried an interest rate of Libor plus 195 basis points and $6.2 million of fixed-rate debt at 7.08%.

Security for the new loans is 16 hotels.

Ashford Hospitality Trust is a Dallas-based self-administered real estate investment trust focused on investing in the hospitality industry.

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