Braemar Hotels & Resorts Inc. (BHR): M&A transaction — Braemar Hotels & Resorts completes $267.8M acquisition of Four Seasons Scottsdale

Braemar Hotels & Resorts Inc.

Total consideration $267.8M funded with cash on hand; no common equity issued.
$250M allocated to existing resort at 5.7% cap rate and 15.2x hotel EBITDA multiple (2022 forecast).
Excess developable land (5.7 acres) allocated $17.8M, zoned for commercial use.
Company expects stabilized yield of ~8% on investment in next 3-5 years.
Acquired 210-room luxury Four Seasons Resort Scottsdale at Troon North.

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

Braemar Hotels & Resorts Inc. completed an acquisition involving SHR FSST, L.L.C. and DTRS FSST, L.L.C. for $267.8 million (closed 2022-12-01).

Action: acquisition
Counterparty: SHR FSST, L.L.C. and DTRS FSST, L.L.C.
Consideration: $267.8 million
Closing: 2022-12-01

Exact text from the filing

Agreement”), by and among the Company, the Purchaser and with SHR FSST, L.L.C. and DTRS FSST, L.L.C. (collectively the “Seller”). The total consideration for the acquisition was $267.8 million (the “ Purchase Price ”), subject to customary pro-rations and adjustments. The Purchase Price was funded with existing cash on hand. --- EX-99.1 (EX-99.1) --- NEWS RELEASE

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

Braemar Hotels & Resorts Inc. filing history →

Source: SEC EDGAR

accession 0001574085-22-000138

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