Business
BRAEMAR HOTELS & RESORTS ANNOUNCES REFINANCING OF FOUR SEASONS RESORT SCOTTSDALE
Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully refinanced the existing mortgage loan secured by the Four Seasons Resort Scottsdale at Troon North. The previous loan had a balance of $140 million with an interest rate of SOFR + 3.75% and a final maturity in December 2028.
About this update from Braemar Hotels & Resorts Inc.
[{"type":"text","content":"DALLAS, Aug. 18, 2025 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully refinanced the existing mortgage loan secured by the Four Seasons Resort Scottsdale at Troon North. The previous loan had a balance of $140 million with an interest rate of SOFR + 3.75% and a final maturity in December 2028.","length":398,"tagName":"p"},{"type":"text","content":"The new non-recourse loan has a balance of $180 million and bears interest at a floating rate of SOFR + 3.00%. The lender is Aareal Capital Corporation. The new loan has a three-year initial term with two, one-year extension options, subject to the satisfaction of certain conditions.","length":284,"tagName":"p"},{"type":"text","content":""We are pleased to announce the successful refinancing of our Four Seasons Scottsdale property," commented Richard Stockton, Braemar's president and chief executive officer. "This flexible financing significantly enhances our liquidity while also lowering our cost of debt at a higher loan to value." He continued, "This transaction is further evidence of the improving credit market for lodging assets."","length":438,"tagName":"p"},{"type":"text","content":"Braemar Hotels & Resorts Inc. is a real estate investment trust (REIT) focused on investing primarily in luxury hotels and resorts.","length":135,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"},{"type":"text","content":"Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company's strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outs...