Bank of America Merrill Lynch is securitizing a single commercial mortgage that real estate investment trust Ashford Hospitality Trust is using to refinance an existing 17 hotel properties in seven states.

BAMLL Commercial Mortgage Trust Securities Trust 2016-ASHF will issue seven classes of notes totaling $325 million with preliminary ratings from Standard & Poor’s and Moody’s Investors Service. The notes are backed by a $325 million, floating-rate two-year loan (with a coupon of 1-month Libor plus 4.2%). The term of the loan can be extended by one year up to four times. 

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