DALLAS, Jan. 15, 2021 /PRNewswire/ — Ashford Hospitality Belief, Inc. (NYSE: AHT) (“Ashford Belief” or the “Firm”) right this moment introduced that the Firm has closed on the beforehand introduced strategic financing from funds managed by Oaktree Capital Administration, L.P. (“Oaktree”). The Firm drew down $200 million on the financing at closing and has the choice to attract down a further $250 million, if wanted. The optionally available extra drawdown has elevated $100 million from the beforehand introduced phrases.
“We’re excited to announce the closing of this strategic financing with Oaktree and consider this partnership might be useful for the Firm going ahead,” commented J. Robison Hays, Ashford Belief’s President and Chief Govt Officer. “With this essential financing now closed and vaccine distribution ramping up, we sit up for getting our lodges again to profitability and specializing in development.”
The Firm has offered extra data on this transaction in a Type 8-Ok filed with the Securities and Trade Fee, which may be discovered within the Investor Relations part of the Firm’s web site at www.ahtreit.com.
Ashford Hospitality Belief is an actual property funding belief (REIT) centered on investing predominantly in higher upscale, full-service lodges.
Ashford has created an Ashford App for the hospitality REIT investor neighborhood. The Ashford App is obtainable totally free obtain at Apple’s App Retailer and the Google Play Retailer by looking out “Ashford.”
Oaktree is a pacesetter amongst international funding managers specializing in various investments, with $140 billion in belongings below administration as of September 30, 2020. The agency emphasizes an opportunistic, value-oriented and risk-controlled strategy to investments in credit score, personal fairness, actual belongings and listed equities. The agency has over 1,000 workers and places of work in 19 cities worldwide. For added data, please go to Oaktree’s web site at http://www.oaktreecapital.com/.
Sure statements and assumptions on this press launch comprise or are based mostly upon “forward-looking” data and are being made pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements on this press launch embrace, amongst others, statements concerning the Firm’s technique and future plans. These forward-looking statements are topic to dangers and uncertainties. After we use the phrases “will probably outcome,” “could,” “anticipate,” “estimate,” “ought to,” “count on,” “consider,” “intend,” or related expressions, we intend to establish forward-looking statements. Such statements are topic to quite a few assumptions and uncertainties, lots of that are outdoors Ashford Belief’s management.
These forward-looking statements are topic to recognized and unknown dangers and uncertainties, which might trigger precise outcomes to vary materially from these anticipated, together with, with out limitation: the affect of the novel pressure of coronavirus (COVID-19) on our enterprise; the power of the Firm and the Firm’s advisor, Ashford Inc., to proceed as a going concern; the timing and consequence of the Securities and Trade Fee’s investigation; our potential to fulfill the New York Inventory Trade continued itemizing requirements; our potential to repay, refinance or restructure our debt and the debt of sure of our subsidiaries; common volatility of the capital markets and the market value of our widespread inventory and most well-liked inventory; adjustments in our enterprise or funding technique; availability, phrases and deployment of capital; availability of certified personnel; adjustments in our business and the market during which we function, rates of interest or the overall financial system; and the diploma and nature of our competitors. These and different danger components are extra absolutely mentioned within the Firm’s filings with the Securities and Trade Fee.
The forward-looking statements included on this press launch are solely made as of the date of this press launch. Traders mustn’t place undue reliance on these forward-looking statements. We is not going to publicly replace or revise any forward-looking statements, whether or not on account of new data, future occasions or circumstances, adjustments in expectations or in any other case besides to the extent required by regulation.
SOURCE Ashford Hospitality Belief, Inc.