Monty Bennett

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Ashford Hospitality, HFF Reveal Details of Marriott Financing

By Liviu Oltean, Associate Editor Marriott Memphis East A month after Ashford Hospitality Trust Inc. closed on the $43.5 million purchase of the Marriott Memphis East Hotel, the REIT and its advisor, HFF, have revealed details of the acquisition financing. Dallas-based Ashford reported in late March that it had obtained a $33.3 million floating-rate mortgage pegged [...]

South

Ashford Hospitality Trust Buys Memphis Marriott East Hotel for $43.5M

By Liviu Oltean, Associate Editor Ashford Hospitality Trust Inc. signed a definitive agreement to purchase the 232-room Memphis Marriott East Hotel for $43.5 million or $187,500 per room. According to an official statement, the acquisition price represents a trailing 12-month cap rate of 7.6 percent on net operating income. “This transaction was particularly attractive given [...]

South

Ashford Hospitality Prime Acquires Chicago Hotel for $153M

Ashford Hospitality Prime has acquired a 415-room hotel in the desirable Gold Coast submarket of Chicago from The Blackstone Group for $153 million.

Chicago

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