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Monty Bennett’s Ashford Hospitality Trust was dealt another distress blow. As the troubled firm tries to root out distress in its portfolio, a $410 million loan backed by 17 hotels was again transferred to special servicing, this time for “imminent monetary default,” according to Morningstar Credit. 

The loan, which was originated by Morgan Stanley Capital, was first sent to special servicing in April 2020. After being modified in February 2021, it was due to mature last November. Ashford used its final 12-month extension; the loan is now due this November.