Ashord Trust takes on mortgage for recent purchase

• The $33.3M mortgage loan is for the 232-room Marriott Memphis East hotel. The loan is interest-only at a rate of Libor +4.95%, with no Libor floor. The paper has a two-year term and three one-year extension options.
• "Another example of our team's ability to access debt capital on favorable terms," says Ashford Trust (NYSE:AHT) CEO Monty Bennett.
• Source: Press release