Oaktree Capital Closes Ashford Hospitality Financing

Paul, Weiss advised funds managed by Oaktree Capital Management, L.P. in its $200 million senior secured term loan to Ashford Hospitality Trust, Inc., a real estate investment trust investing predominantly in upper upscale, full-service hotels. The term loan includes a $250 million delayed draw commitment, allowing the aggregate amount of borrowings to increase to $450 million, if requested.

The Paul, Weiss team included, among others, corporate partner Kenneth Schneider; real estate partner Salvatore Gogliormella; tax partner Robert Holo; litigation partner Gregory Laufer; restructuring partner Brian Hermann; intellectual property partner Claudine Meredith-Goujon; and environmental counsel William O'Brien.