Braemar Hotels & Resorts Completes $195 Million Refinancing of Mortgage Loan
Braemar Hotels & Resorts Inc. (BHR)
Last braemar hotels & resorts inc. earnings: 2/26 05:10 pm
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Source: PR Newswire
DALLAS, Jan. 22, 2019 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully refinanced its Aareal Capital mortgage loan with an existing outstanding balance totaling approximately $187 million and a final maturity date in November 2021. The new loan was originated by PGIM Real Estate Finance, totals $195 million and has a five year term. The loan is interest only and provides for a floating interest rate of LIBOR + 1.70%. The loan remains secured by the same two hotels: the Capital Hilton in Washington, DC and Hilton La Jolla Torrey Pines in La Jolla, CA. Braemar has a 75% ownership interest in the properties, with Park Hotels & Resorts Inc. (NYSE: PK) holding the remaining 25%. "We are pleased to have capitalized on the continuing positive debt market conditions to have significantly reduced our interest expense costs on this loan," said Richard J. Stockton, Braemar's President and Chief Executive Of
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- 4/25/24 - Form PRER14A
- 4/25/24 - Form 10-K/A
- 4/23/24 - Form DEFA14A
- BHR's page on the SEC website