---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-014177"
form_type: "8-K"
ticker: "SOHOO"
cik: "0001301236"
company_name: "Sotherly Hotels Inc."
filed_at: "2024-02-13T23:59:59+00:00"
generated_at: "2026-06-06T03:07:42.550948+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sotherly Hotels refinances Hotel Alba with $35M fixed-rate mortgage at 8.49%

## Summary
- $35M mortgage loan from Citi Real Estate Funding Inc., interest-only, 5-year term maturing March 6, 2029, fixed rate 8.49%.
- Net proceeds of ~$10.25M after repaying existing first mortgage; funds for general corporate purposes.
- Loan guaranteed by Operating Partnership only for 'bad boy' acts; prepayment restricted until last 4 months.
- CEO states refinancing completes repositioning strategy that created substantial value and cash proceeds.

## SEC filing metadata
- accession: 0000950170-24-014177
- form_type: 8-K
- ticker: SOHOO
- cik: 0001301236
- company_name: Sotherly Hotels Inc.
- filed_at: 2024-02-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1301236/000095017024014177/0000950170-24-014177-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1301236/000095017024014177/soho-20240207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-014177
- JSON: https://secwatch.observer/filing/0000950170-24-014177.json
- Plain text: https://secwatch.observer/filing/0000950170-24-014177.txt

## Key facts
- Debt Financings
  Sotherly Hotels Inc. incurred loan of $35.0 million with Citi Real Estate Funding Inc. at 8.49% maturing March 6, 2029.
  - Instrument: loan
  - Principal: $35.0 million
  - Counterparty: Citi Real Estate Funding Inc.
  - Rate: 8.49%
  - Maturity: March 6, 2029
  - Event: incurrence
  source text: On February 7, 2024, affiliates of Sotherly Hotels Inc. (the “Company”), the sole general partner of Sotherly Hotels LP (the “Operating Partnership”), entered into loan documents to secure a $35.0 million mortgage loan (the “Mortgage Loan”) on the Hotel Alba Tampa (the “Hotel”) located in Tampa, FL with Citi Real Estate Funding Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1301236/000095017024014177/0000950170-24-014177-index.htm

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