Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 282

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 282
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)(78,122)Advisory services fee(30,487)(31,089)(28,847)Gain (loss) on legal settlements— — 114 Corporate, general and administrative(14,361)(13,523)(18,084)Gain (loss) on disposition of assets and hotel properties88,165 — — Equity in earnings (loss) of unconsolidated entities(1,608)(253)(328)Interest income7,135 6,401 2,677 Other income (expense)— 293 — Interest expense and amortization of discounts and loan costs(108,124)(94,219)(52,166)Write-off of loan costs and exit fees(6,111)(3,489)(146)Gain (loss) on extinguishment of debt(22)2,318 — Realized and unrealized gain (loss) on derivatives585 (663)4,961 Income tax (expense) benefit(842)(2,689)(4,043)Net income (loss)$19,763 $(30,628)$19,348 The CODM does not receive asset information by segment.

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

24. Subsequent Events

On March 7, 2025, the Company refinanced its $293.2 million mortgage loan secured by The Clancy, The Notary Hotel, Marriott Seattle Waterfront, and Sofitel Chicago Magnificent Mile, which had an interest rate of SOFR + 2.66% and a final maturity date in June of 2025 and its $62.0 million mortgage loan secured by The Ritz-Carlton Reserve Dorado Beach, which had an interest rate of SOFR + 4.75% and a final maturity date in March of 2026. The new $363.0 million mortgage loan bears interest at a floating interest rate of SOFR + 2.52% and has a two-year initial term with three one-year extension options, subject to the satisfaction of certain conditions. The mortgage loan is secured by five hotels: The Clancy, The Notary Hotel, Marriott Seattle Waterfront, Sofitel Chicago Magnificent Mile, and The Ritz-Carlton Reserve Dorado Beach.On March 10, 2025, we entered into a Limited Waiver Under Advisory