hilton alexandria old town
Ashford Trust Completes Acquisition of Virginia’s 252-Room Hilton Alexandria Old Town for $111 Million
July 2, 2018
DALLAS, July 2, 2018 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has completed the previously disclosed acquisition of the 252-room Hilton Alexandria Old Town located in Alexandria, Virginia, for total consideration of $111 million. This acquisition of the Hilton Alexandria Old Town is expected to be Ashford Trust's first hotel acquisition to benefit from the Enhanced Return Funding Program (the "Program" or "ERFP"), which was announced on June 26, 2018. In connection with this acquisition and subject to the terms of the ERFP, Ashfo...
Ashford Trust to Acquire the Hilton Alexandria Old Town for $111 Million and Introduces New Funding Program With Ashford Inc.
June 27, 2018
DALLAS, June 27, 2018 -- Highlights: Ashford Inc. to provide Ashford Trust with funding of a maximum of $50 million in connection with up to $500 million of future Ashford Trust hotel acquisitions Designed to enhance Ashford Trust shareholder returns Estimated to increase asset level internal rates of return by 700 - 1,200 basis points1 Programmatic commitment effectively reduces amount of equity funding by Ashford Trust on investments Ashford Trust currently holds $286 million in excess corporate cash Ashford Inc. to commit $11.1 million to Ashford Trust in connection with the expected $111 million acquisition of the Hilton A...
