The loan, which covers the 170-room property, is now priced at SOFR plus 325 basis points. Braemar retains the option to trigger a second three-month extension under the same terms if needed. Richard Stockton, the company’s President and CEO, noted that this agreement resolves the only debt maturity scheduled for 2026.

By pushing this deadline, Braemar avoids any further final debt maturities until 2028. Management indicated they plan to refinance the facility later this year, banking on a constructive financing market to potentially secure more favorable terms. The company continues to focus its portfolio on luxury urban and resort assets across the United States and the Caribbean.