Ashford Hospitality refinances Renaissance Nashville hotel loan with lower rate and extended term

ASHFORD HOSPITALITY TRUST INC

New loan: $218.1M, floating at SOFR + 2.26%, interest-only, matures Sept 2030 with extension options.
Prior loan was $267.2M at SOFR + 3.98%; refinancing reduces annual interest expense by millions.
Preferred equity upsized by $53.0M; rate of return cut from 14% to 11.14%.
673-room Nashville property secures two-year term plus three one-year extension options.
CEO cites improved financing markets as enabling favorable terms.

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