Stephen Zsigray Of Ashford Hospitality Trust Secures $580M Loan From Bank Of America And Sculptor Capital

The asset involved is a hotel portfolio comprising 16 hotels located across 11 states, totaling 4,145 keys. The transaction involves a loan amount of $580 million secured by Ashford Hospitality Trust to refinance nearly $440 million in maturing debt.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $580,000,000
• Lender: Bank of America & Sculptor Capital
• Landlord: Stephen Zsigray - Ashford Hospitality Trust
• Loan Terms: floating-rate, interest-only
• Number of Hotels: 16
• Total Rooms: 4,145
• Equity Returned: $74.7 million
• Hotels at Risk: 14 hotels totaling 2,384 rooms

The key individuals in this transaction include Stephen Zsigray, representing Ashford Hospitality Trust, along with Bank of America and Sculptor Capital as lenders. This financing aims to support the REIT's ongoing debt-reduction strategy, which is a response to legacy defaults from a 2018 CMBS deal.