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ASHFORD HOSPITALITY TRUST ANNOUNCES EXTENSION OF HIGHLAND LOAN
DALLAS, July 30, 2025 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has extended its Highland mortgage loan secured by 18 hotels. The loan, which had an original final maturity date of April 9, 2025, now has a maturity date of January 9, 2026, subject to a six-month extension option to July 9, 2026, upon satisfaction of certain conditions.
"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 $1.1 billion, the Highland pool of assets is the most valuable in the Ashford Trust portfolio, and we are hopeful that this extension will provide us with an opportunity to benefit from anticipated interest rate cuts and improved coverage metrics ahead of a longer-term refinancing."
As part of the extension, the loan was paid down to a current balance of $733.6 million, or approximately 68% of appraised value. The loan now bears interest at a floating rate of SOFR + 4.13%.
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.
View original content:https://www.prnewswire.com/news-releases/ashford-hospitality-trust-announces-extension-of-highland-loan-302518005.html
SOURCE Ashford Hospitality Trust, Inc.
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