New York, NY – August 25, 2021 - RobertDouglas assisted Ashford Hospitality Trust in successfully refinancing its mortgage loan for the 390-room Hilton Boston Back Bay, which had a final maturity date in November 2022, with a best-in-class institutional balance sheet lender. The new, non-recourse loan totals $98.0 million and has a four-year initial term with a one-year extension option, subject to the satisfaction of certain conditions. The loan is interest only for the initial term with $500,000 quarterly amortization payments during the extension term, and it provides for a floating interest rate of LIBOR + 3.80%.
RobertDouglas is a real estate investment banking firm with offices in New York, Nashville, Los Angeles, and San Francisco that specializes in the sale, financing, and equity capitalization of hotel, resort, and gaming properties throughout North America. Founded by two of the hotel industry’s pre‐eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.