Ashford Hospitality Secures $105 Million in Long-Term, Fixed-Rate Financing on Marriott Crystal Gateway

Ashford Hospitality Trust, Inc. AHT today announced it has closed a $105.0 million loan with Deutsche Bank secured by the Marriott Crystal Gateway in Arlington, Virginia. The new financing, which has a 10-year term and a fixed interest rate of 6.26%, replaces an existing $60.8 million loan on the property that had an initial maturity date in March 2012 and had an interest rate of 400 basis points over LIBOR. The excess loan proceeds will be used to pay down the Company's credit facility and for general corporate purposes.