BRAEMAR HOTELS & RESORTS ANNOUNCES REFINANCING OF THE RITZ-CARLTON LAKE TAHOE
Key Highlights
- ➤New Ritz-Carlton Lake Tahoe loan totals $60.0 million
- ➤Refinancing cuts floating rate to SOFR + 2.65% from SOFR + 3.25%
- ➤New debt includes $15.0 million future draw capacity, subject to conditions
- ➤Three-year term plus two one-year extensions pushes next hard maturity to December 2028
Expert Statements
Richard J. Stockton, President and Chief Executive Officer of Braemar Hotels & Resorts Inc.
“We are pleased with the execution of this refinancing, which extends the debt maturity on one of our premier luxury assets and capitalizes on tighter interest rate spreads in the market”
BRAEMAR HOTELS & RESORTS ANNOUNCES REFINANCING OF THE RITZ-CARLTON LAKE TAHOE PR Newswire
DALLAS, Nov. 3, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully refinanced its mortgage loan for the 170-room Ritz-Carlton Lake Tahoe in Truckee, California, which had an existing outstanding balance of $43.4 million, a floating interest rate of SOFR + 3.25% and a final maturity date in January 2027. The new loan totals $60.0 million with an additional $15.0 million available to be drawn in the future subject to certain conditions, has a three-year initial term with two one-year extension options and provides for a floating interest rate of SOFR + 2.65%. With this financing now in place, the Company's next hard debt maturity is not until December 2028.
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