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Boston & New England  + Boston  + Hospitality  |  August 26, 2021
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By: David Cohen

Ashford Hospitality Trust Secures $98M Refinancing for 390-Room Hilton Back Bay Hotel

Ashford Hospitality Trust has refinanced its mortgage loan for the 390-room Hilton Boston Back Bay in Boston.

The new, non-recourse loan totals $98 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%.

Robert Douglas, a real estate advisory firm, assisted Ashford Trust with the transaction. Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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