Ashford Hospitality Trust Refinances 673-Room Renaissance Hotel In Nashville For $218.1M

The property asset involved in this transaction is the 673-room Renaissance Hotel located at 611 Commerce Street in Nashville, TN. The loan amount for this refinancing deal is $218,100,000. The hotel is categorized as an asset type of hotel and is situated in a significant market area.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $218,100,000
• Landlord: Stephen Zsigray
• Company: Ashford Hospitality Trust
• Previous Loan Amount: $267,200,000
• Increased Preferred Equity: $53,000,000
• Return Cut from: 14%
• Return to: 11.14%

This refinancing deal was executed by Ashford Hospitality Trust, which successfully replaced a prior mortgage at a higher interest rate. The transaction highlights the strategic financial repositioning of the 673-room asset in a competitive market, reflecting insights into the evolving capital structure and financing strategy led by the landlord, Stephen Zsigray.