Ashford Pays Down Debt, Extends $203M Mortgage Loan

Law360, New York (December 12, 2011, 5:15 PM EST) -- Ashford Hospitality Trust Inc. has addressed a $203 million mortgage loan that was set to mature in December by paying down the debt by $25 million and extending its maturity date until March 2014, the Dallas-based hotel investor said Monday.

The restructuring of the loan, now valued at $178 million, means Ashford has "addressed upcoming debt maturities and is well-positioned regarding the next few years," it said.

"We are very pleased to announce this restructuring and extension with a market pay down which preserves our cash...
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