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Ashford Prime Completes Acquisition of The Ritz-Carlton St. Thomas

2015-12-21 19:56:49| Jewelry - Topix.net

Ashford Hospitality Prime, Inc. completed the previously announced acquisition of the 180-room Ritz-Carlton St. Thomas for $64 million from Marriott International, Inc. Concurrent with the completion of the acquisition, the company has financed the hotel with a $42-million non-recourse mortgage loan. This loan is interest only and provides for a floating interest rate of LIBOR + 4.95% with a two-year term with three one-year extension options subject to the satisfaction of certain conditions.

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