DALLAS, TX— Ashford Hospitality Trust has reportedly filed a Form S-11 Registration Statement with the Securities and Exchange Commission for the initial public offering of its common stock. The offering— of up to 35 million shares— is lead managed by Friedman, Billings, Ramsey & Co. of Arlington, VA. Ashford Hospitality Trust is a newly formed, self-advised real estate investment trust created to capitalize on what are perceived to be existing and evolving investment opportunities in the hotel industry. As such, Ashford’s purported strategy is to acquire a diversified portfolio of lodging-related assets consisting of direct equity interests in hotels, sale-leasebacks, and origination and acquisition of first-mortgages and mezzanine financing. It was noted the new REIT plans to use the proceeds of its IPO to pay down loans on six hotels (now operating under the Embassy Suites and Radisson flags) as well as add properties to its fledgling portfolio.
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