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Four Seasons Resort Scottsdale – Image Credit Four Seasons Hotels
Braemar Hotels & Resorts Inc. has refinanced the mortgage loan for the Four Seasons Resort Scottsdale at Troon North, increasing the loan amount to $180 million.
Braemar Hotels & Resorts Inc. has refinanced the mortgage loan for the Four Seasons Resort Scottsdale at Troon North, increasing the loan amount to $180 million.
Braemar Hotels & Resorts Inc. has finalized a refinancing arrangement for the Four Seasons Resort Scottsdale at Troon North. The previous loan, which had a balance of $140 million, was set to mature in December 2028 and carried an interest rate of SOFR plus 3.75%.
The new loan, provided by Aareal Capital Corporation, is a non-recourse loan amounting to $180 million. It features a floating interest rate of SOFR plus 3.00%. The terms of the loan include an initial three-year period, with the option to extend for two additional one-year periods, contingent upon meeting specific conditions.
The refinancing aims to enhance liquidity and reduce the cost of debt for Braemar Hotels & Resorts. The transaction reflects current trends in the credit market for lodging assets.
