ASHFORD HOSPITALITY TRUST INC (AHT): M&A transaction — Ashford Trust sells Residence Inn SLC for $19.2M at 4.6% cap; pays down debt

ASHFORD HOSPITALITY TRUST INC

Sold 144-room Residence Inn Salt Lake City for $19.2M cash; adjusted cap rate 4.6% on 2023 NOI.
All proceeds used to repay mortgage debt; approximately $19M repaid including defeasance costs.
Net cash proceeds of ~$18.8M after selling expenses; sale price represented 18.2x 2023 Hotel EBITDA.
Company continues to market several other assets as part of deleveraging plan.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ASHFORD HOSPITALITY TRUST INC completed a disposition involving PEG Properties, LLC for $19.2 million in cash (closed 2024-03-06).

Action: disposition
Counterparty: PEG Properties, LLC
Consideration: $19.2 million in cash
Closing: 2024-03-06

Exact text from the filing

the Company’s indirect, wholly owned subsidiary, Ashford Salt Lake Limited Partnership (“Seller”), completed the sale of the Residence Inn Salt Lake City pursuant to an Agreement of Purchase and Sale, dated as of December 14, 2023, by and between Seller and PEG Properties, LLC, for $19.2 million in cash, subject to customary pro-rations and adjustments.

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28 m&a transactions filed in the last 30 days. Browse all m&a transactions →

ASHFORD HOSPITALITY TRUST INC filing history →

Source: SEC EDGAR

accession 0001232582-24-000031

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