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Ashford Hospitality Trust refinances MetLife debt

By Associated Press
June 25, 2008 | Comments (0)

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Real estate investment trust Ashford Hospitality Trust Inc. said Wednesday it refinanced its $73.5 million loan with MetLife.

The loan is secured by interests in the Hilton Tucson El Conquistador Golf Resort in Tucson, Ariz., and the Hilton Dallas Lincoln Centre in Dallas.

The new $53.4 million interest-only loan can be prepaid without penalty and matures in July 2011, the company said.

The company said the loan was its only debt maturity in 2008.

Ashford Hospitality Trust shares fell 4 cents to $5.20 in after-hours trading. During regular trading, shares rose 24 cents, or 4.8 percent, to close at $5.24.

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