{"schema_version":"secwatch.filing_event.v1","accession":"0001574085-25-000121","form_type":"8-K","ticker":"BHR","cik":"0001574085","company_name":"Braemar Hotels & Resorts Inc.","filed_at":"2025-11-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.796661+00:00","generated_at":"2026-05-16T23:03:04.142984+00:00","sec_items":["2.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Braemar Hotels & Resorts closes sale of The Clancy in San Francisco for $115M","bullets":["Sale price of $115M ($280,487 per key) for 410-room hotel; 5.2% cap rate on TTM NOI.","Company paid down ~$64.7M of debt and retained ~$43.7M in net proceeds after expenses.","TTM Hotel EBITDA of $8.0M and Net Operating Income of $6.0M (12 months ended Sept. 30, 2025).","CEO Richard Stockton said the sale sharpens the portfolio and strengthens capital position."],"urls":{"canonical":"https://secwatch.observer/filing/0001574085-25-000121","json":"https://secwatch.observer/filing/0001574085-25-000121.json","markdown":"https://secwatch.observer/filing/0001574085-25-000121.md","text":"https://secwatch.observer/filing/0001574085-25-000121.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1574085/000157408525000121/0001574085-25-000121-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1574085/000157408525000121/bhr-20251106.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T23:03:04.142984+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f53ab85d905417b799cba819d6d198685fbb5a89","claim":"Braemar Hotels & Resorts Inc. completed a disposition involving Block Nine Owner, LLC for $115 million in cash (closed 2025-11-06).","evidence_excerpt":"On November 6, 2025, Ashford San Francisco II LP and Ashford TRS SF LLC (together “Seller”), indirect subsidiaries of Braemar Hotels & Resorts Inc. (the “ Company ”), completed the sale of The Clancy (the “ Hotel ”) pursuant to an Agreement of Purchase and Sale, dated as of October 6, 2025, by and among Seller and Block Nine Owner, LLC, as purchaser, for $115 million in cash, subject to customary pro-rations and adjustments.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1574085/000157408525000121/0001574085-25-000121-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Block Nine Owner, LLC"},{"label":"Consideration","value":"$115 million in cash"},{"label":"Closing","value":"2025-11-06"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}