Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 141

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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360 — Convertible Senior NotesEquityJune 2026June 20264.50%86,250 86,250 Mortgage loan (7)Bardessono Hotel & SpaAugust 2026August 2029SOFR (1) + 3.24%407,000 407,000 Hotel YountvilleThe Ritz-Carlton SarasotaPier House Resort & SpaThe Ritz-Carlton St. ThomasMortgage loan (8)Four Seasons Resort ScottsdaleDecember 2026December 2028SOFR (1) + 3.75%140,000 140,000 Mortgage loan (9)Capital HiltonDecember 2026December 2028SOFR (1) + 3.75%110,600 110,600 Mortgage loan (3)The Notary HotelMarch 2027March 2030SOFR (1) + 2.52% 363,000 — The ClancySofitel Chicago Magnificent MileMarriott Seattle WaterfrontThe Ritz-Carlton Reserve Dorado Beach1,226,123 1,222,943 Deferred loan costs, net(14,629)(11,985)Premiums/(discounts), net(616)(940)Indebtedness, net$1,210,878 $1,210,018 __________________(1)SOFR rates were 4.32% and 4.33% at June 30, 2025 and December 31, 2024, respectively.(2)This mortgage loan had five one-year extension options, subject to satisfaction of certain conditions, of which the fifth was exercised in June 2024.(3)On March 7, 2025, we refinanced two mortgage loans into a new $363.0 million mortgage loan. The new mortgage loan is interest only and bears interest at a rate of SOFR + 2.52%, has a two-year initial term, and has three one-year extension options, subject to the satisfaction of certain conditions.

13

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

(4)On January 14, 2025, we amended this mortgage loan. Terms of the amendment included a $10.0 million principal pay-down, current maturity