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Ashford Hospitality Trust has struck a series of agreements with its lenders, including the CMBS trust that holds a $982 million piece of a $1.27 billion financing package against 34 of its hotels, that extends the term of some of the financing by an additional year through next June. The agreements include the pay down, by $129 million, of $521.6 million of CMBS financing against 15 hotels. The REIT, however, is likely to give back 19 hotels that back $460.4 million of the CMBS debt.
The post Ashford Hospitality Pays Down CMBS Loan Against Hotels by $129Mln; Gives Up on 19 Hotels appeared first on Commercial Real Estate Direct.
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