ARA US Hospitality Trust obtains USD75 million in loans to fund acquisition of Marriott-branded hotels

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Singapore-listed ARA US Hospitality Trust has taken out USD75 million in unsecured loans.

The funds will be deployed by the trust to partially finance its purchase of three Marriott-branded hotels in the US.

Related: ARA US Hospitality Trust misses DPU forecast, acquires three Marriott properties

These loans are namely a USD66 million term facility, and a USD9 million revolving credit facility.

The trust has not disclosed the identities of the lenders for both facilities.

ARA US Hospitality Trust is a stapled security comprising ARA US Hospitality Property Trust and ARA US Hospitality Management Trust.

Its units were last done on the Singapore Exchange (SGX) at USD0.86.

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