Sotherly Hotels amends Philadelphia loan to $35.9M, extends maturity to 2026

Sotherly Hotels Inc.

Principal reduced $3M to $35.9M; maturity extended to April 2026; floating SOFR+3.5%.
Interest rate cap purchased: $26M notional, 3.0% strike, expires May 2026.
New 10-year Hilton franchise agreement; $11.5M renovation to guestrooms, public spaces, exterior by April 2026.
Company funded $3M principal payment, $0.3M interest reserve ($1.3M total), $5M PIP reserve, and $1.7M cash collateral.

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