---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-018146"
form_type: "8-K"
ticker: "SOHOO"
cik: "0001301236"
company_name: "Sotherly Hotels Inc."
filed_at: "2023-05-05T23:59:59+00:00"
generated_at: "2026-06-15T16:04:44.459142+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Sotherly Hotels refinances DoubleTree Laurel with $10M fixed-rate loan at 7.35%

## Summary
- $10M mortgage loan with Citi Real Estate Funding Inc., fixed rate 7.35%, matures May 2028.
- Interest-only payments; prepayment restricted until last 4 months of term.
- Proceeds repaid existing first mortgage and generated ~$2.7M cash for general corporate purposes.
- CEO cites favorable terms and significant value realized via streamlined operating strategy.

## SEC filing metadata
- accession: 0000950170-23-018146
- form_type: 8-K
- ticker: SOHOO
- cik: 0001301236
- company_name: Sotherly Hotels Inc.
- filed_at: 2023-05-05T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1301236/000095017023018146/0000950170-23-018146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1301236/000095017023018146/soho-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-018146
- JSON: https://secwatch.observer/filing/0000950170-23-018146.json
- Plain text: https://secwatch.observer/filing/0000950170-23-018146.txt

## Key facts
- Debt Financings
  Sotherly Hotels Inc. incurred mortgage of $10.0 million with Citi Real Estate Funding Inc. at 7.35% maturing May 6, 2028.
  - Instrument: mortgage
  - Principal: $10.0 million
  - Counterparty: Citi Real Estate Funding Inc.
  - Rate: 7.35%
  - Maturity: May 6, 2028
  - Event: incurrence
  source text: On May 4, 2023, affiliates of Sotherly Hotels Inc., the sole general partner of Sotherly Hotels LP (the “Operating Partnership”), entered into loan documents to secure a $10.0 million mortgage loan (the “Mortgage Loan”) on the DoubleTree by Hilton Laurel hotel (the "Hotel") located in Laurel, MD with Citi Real Estate Funding Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1301236/000095017023018146/0000950170-23-018146-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.