Business Context and Reporting Period
Company: Ashford Hospitality Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 22, 2004 (Earliest event reported: March 22, 2003)
Business Context: The filing discloses a specific lending transaction under Regulation FD. The Company is a real estate investment trust focused on hospitality assets.
Key Financial Metrics
This filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, or aggregate debt levels. The only specific financial metric disclosed is:
- Loan Amount: $15 million (Mezzanine loan).
Material Changes
The filing reports the closing of a $15 million junior mezzanine loan. This transaction represents a new asset on the Company's balance sheet but does not detail changes in operating performance compared to prior periods.
Transaction Details and Commentary
Transaction: Closing of a $15 million mezzanine loan.
Borrowers: A joint venture between Congress Group Ventures and The Buccini/Pollin Group.
Collateral: Embassy Suites – Boston Logan Airport, located in Boston, Massachusetts.
Management Commentary: The filing incorporates a press release by reference but contains no additional management outlook, risk factors, or discussion of contingencies beyond the announcement of the loan closing.
Investor Verification Checklist
- Verify the terms of the $15 million mezzanine loan (interest rate, maturity, covenants) in the attached press release (Exhibit 99.17).
- Confirm the current occupancy and financial performance of the Embassy Suites – Boston Logan Airport property.
- Review the Company's most recent 10-Q or 10-K for aggregate debt levels and liquidity position, as this 8-K does not provide them.
- Note the discrepancy in dates within the source text (Report date listed as March 19, 2003, in the header, but signed and referenced as March 22, 2004).