Braemar Hotels & Resorts Inc. announced that it has successfully refinanced its Aareal Capital mortgage loan with an existing outstanding balance totaling approximately $187 million and a final maturity date in November 2021. The new loan was originated by PGIM Real Estate Finance, totals $195 million and has a five year term. The loan is interest only and provides for a floating interest rate of LIBOR + 1.70%. The loan remains secured by the same two hotels: the Capital Hilton in Washington, DC and Hilton La Jolla Torrey Pines in La Jolla, CA. Braemar has a 75% ownership interest in the properties, with Park Hotels & Resorts Inc. holding the remaining 25%.