Ashford Hospitality Trust Inc. has completed the sale of the 315-room Courtyard Boston Downtown located in Boston for $123 million ($390,500 per key).
“We are pleased to announce the closing of the sale of the Courtyard Boston Downtown,” said Stephen Zsigray, president/CEO, Ashford Trust. “This sale not only deleverages our BAML Highland Pool loan, but also results in significant capital expenditure savings going forward. We are encouraged by the improved sentiment we are seeing in both the transaction and financing markets and the progress we are making with our recently announcedGRO AHT initiative as evidenced by the strong revenue growth we achieved in December.”
