4 Firms Guide Up To $450M In Financing For Hospitality REIT

Law360 (July 24, 2020, 10:06 PM EDT) -- Hospitality-focused real estate investment trust Watermark said Friday it's completed a financing deal for commitments of up to $450 million from a joint venture of affiliates and funds backed by Ascendant and Oaktree in a transaction led by four law firms.

Watermark Lodging Trust Inc. said in a statement that its deal with Ascendant Capital Partners and Oaktree Capital Management LP provides it $200 million, a commitment of up to $250 million over the next 18 months and warrants for the investors to buy equity stakes in it of up to 6.75%.

"This transaction provides us with additional operational and financial...

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