US EditionAshford Lands $580M Refi for Beverly Hills and Coral Gables Hotels
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Ashford Lands $580M Refi for Beverly Hills and Coral Gables Hotels
After a brush with special serving, Ashford Hospitality Trust has nabbed a $580 million debt package from Bank of American and Sculptor Capital Management to refinance 16 hotels — together valued at $861 million — which include the Hyatt Regency Coral Gables and the Beverly Hills Marriott, property records show. The nonrecourse financing has a two-year term with three one-year extension options. The loans have a floating interest rate of SOFR p…
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