Braemar Hotels & Resorts Inc (BHR) has shared an update.
Braemar Hotels & Resorts Inc. announced the successful acquisition of a $62 million mortgage for the Ritz-Carlton Reserve Dorado Beach property in Puerto Rico. This two-year, non-recourse loan has an interest-only payment structure and is tied to a floating interest rate pegged to SOFR plus 4.75%. This strategic financial move is aimed at enhancing the company’s property portfolio and overall financial standing.
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