Ashford Trust Refinances Mortgage Loan Secured by Marriott Crystal Gateway Hotel
DALLAS, Texas—Ashford Hospitality Trust, Inc. announced it has refinanced its mortgage loan secured by the 703-room Marriott Crystal Gateway Hotel located in Arlington, Virginia, which had a final maturity date in November 2026. The new, non-recourse loan totals $121.5 million and has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR up 4.86 percent. […]
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