DALLAS-In the aftermath of Hurricane Irene, Ashford Hospital Trust reports that the storm had only minimal impact on its northeast properties. The REIT says most of the facilities are back to normal operations.

The company has approximately 210 rooms out of service, with the combined physical damage and business income loss anticipated to be less than $1 million. The properties are insured, and Ashford says it expects to recover most of its losses with minimum charge to the company. 

In Houston, Weingarten Realty obtained a $200-million unsecured loan. The initial term of the loan is one year, and the option can be repaid at par after nine months.

Borrowing rates under the agreement float at a margin over LIBOR. Based on Weingarten's current senior unsecured credit rating, the LIBOR margin is 1.25%.

The Bank of Nova Scotia was the lead arranger and is the administrative agent. Sumitomo Mitsui Banking Corp. and PNC Bank National Association served as co-arrangers and syndication agents. U.S. Bank National Association served as the documentation agent. Compass Bank was also a participant in the loan.

"We are pleased to close this term loan which provides us additional short-term capacity as the company executes our previously announced accelerated disposition program. This new loan will allow the company the ability to pay down debt as these transactions are completed," says Steve Richter, executive vice president and chief financial officer in a prepared statement.