ASHFORD HOSPITALITY TRUST INC (AHT): M&A transaction — Ashford Hospitality Trust sells Hilton Boston Back Bay for $171M; pays down strategic financing

ASHFORD HOSPITALITY TRUST INC

Sale price $171M ($438k per key) for 390-room Hilton Boston Back Bay; proceeds used for debt reduction.
$68M used to pay down strategic financing; remaining balance ~$112M.
Company plans regular paydowns with proceeds from non-traded preferred stock and other asset sales.
Pro forma financials show net sale proceeds of ~$167M after expenses; hotel removed from balance sheet.
Several other assets in market at various stages of sales process.

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 Beantown Hotel Owner LLC for $171 million in cash (closed 2024-04-09).

Action: disposition
Counterparty: Beantown Hotel Owner LLC
Consideration: $171 million in cash
Closing: 2024-04-09

Exact text from the filing

On April 9, 2024, PIM Boston Back Bay LLC and PIM TRS Boston Back Bay LLC (the "Sellers"), indirect, wholly-owned subsidiaries of Ashford Hospitality Trust, Inc. (the "Company"), completed the sale of the Hilton Boston Back Bay hotel pursuant to an Agreement of Purchase and Sale, dated as of January 29, 2024, by and between the Sellers and Beantown Hotel Owner LLC, for $171 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 0001232582-24-000050

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