Ashford Hospitality completes "cash-out" refi

• Ashford Hospitality Trust (NYSE:AHT) refinanced two loans with a balance of about $354M into new loans totaling $478M, reaping $107M in proceeds after closing costs and reserves.
• There are four new loans at fixed rates in the 4.45%-4.95% range. They are secured by a number of hotels.
• Source: Press Release