---
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"
generated_at: "2026-05-16T23:03:04.142984+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Braemar Hotels & Resorts closes sale of The Clancy in San Francisco for $115M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001574085-25-000121
- JSON: https://secwatch.observer/filing/0001574085-25-000121.json
- Plain text: https://secwatch.observer/filing/0001574085-25-000121.txt

## Key facts
- M&A Transactions
  Braemar Hotels & Resorts Inc. completed a disposition involving Block Nine Owner, LLC for $115 million in cash (closed 2025-11-06).
  - Action: disposition
  - Counterparty: Block Nine Owner, LLC
  - Consideration: $115 million in cash
  - Closing: 2025-11-06
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1574085/000157408525000121/0001574085-25-000121-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.