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Braemar Hotels & Resorts announces closing of mortgage loan on the Four Seasons Resort Scottsdale at Troon North

Robert Douglas, a real estate advisory firm that specializes in providing capital solutions in the hospitality industry, assisted Braemar with this transaction.

DALLAS – Braemar Hotels & Resorts Inc. announced that it has successfully closed on a mortgage loan for the 210-room Four Seasons Resort Scottsdale at Troon North in Scottsdale, Arizona.

The non-recourse loan totals $100.0 million and has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR + 3.75%.  The Company also announced that it plans to use the majority of the proceeds from the new loan to pay off a more expensive loan secured by the Ritz-Carlton Reserve Dorado Beach, which has a floating interest rate of LIBOR + 6.00%.

"We are very excited about our recent acquisition of the Four Seasons Resort in Scottsdale and are pleased to be able to finance this asset on favorable terms given the current volatility in the capital markets," said Richard J. Stockton, Braemar's President and Chief Executive Officer.  He continued, "With this attractive new financing, we are able to reduce our weighted average interest rate across our borrowings by paying off a more expensive loan."

Robert Douglas, a real estate advisory firm that specializes in providing capital solutions in the hospitality industry, assisted Braemar with this transaction.

Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.

Co-Founder & Chief Editor - TravelDailyNews Media Network | Website | + Posts

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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