Ashford Hospitality Makes Further Progress on Near-Term Debt Maturities With JW Marriott San Francisco Loan Extension
Friday, July 9th, 2010 at
8:24 am
Ashford Hospitality Trust, Inc. today announced it has restructured the $52.5 million loan with Capmark Bank that is secured by the JW Marriott San Francisco. Â The modification provides a full extension of the loan maturity to March 2013 without tests and maintains the interest rate at 375 basis points over LIBOR in exchange for a reduction in the loan balance of $5.0 million at closing.
Filed under: Loss Mitigation Forums
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