---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-082298"
form_type: "8-K"
ticker: "SOHOO"
cik: "0001301236"
company_name: "Sotherly Hotels Inc."
filed_at: "2024-07-09T23:59:59+00:00"
generated_at: "2026-05-31T22:31:39.798168+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sotherly Hotels secures $26.25M mortgage, $9.49M renovation tranche, and rebrands to Hotel Bellamy

## Summary
- Loan from Fifth Third Bank: $26.25M initial tranche + $9.49M renovation tranche, floating SOFR+3%, 5-year maturity July 8, 2029.
- New 10-year Hilton franchise agreement; hotel reflags as DoubleTree by Hilton branded Hotel Bellamy.
- Renovation cost ~$14.6M covering guestrooms, public spaces, exterior, pool, F&B, and new riverfront dining; completion expected Jan 2027.
- Operating Partnership guarantee reduces to 25% after achieving 1.35x DSCR for two consecutive quarters post-renovation.
- CEO Dave Folsom views refinancing as positive outcome; hotel positioned as first full-service lifestyle concept in downtown Jacksonville.

## SEC filing metadata
- accession: 0000950170-24-082298
- form_type: 8-K
- ticker: SOHOO
- cik: 0001301236
- company_name: Sotherly Hotels Inc.
- filed_at: 2024-07-09T23:59:59+00:00
- event_type: debt
- sentiment: positive
- 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/1301236/000095017024082298/0000950170-24-082298-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1301236/000095017024082298/soho-20240708.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-082298
- JSON: https://secwatch.observer/filing/0000950170-24-082298.json
- Plain text: https://secwatch.observer/filing/0000950170-24-082298.txt

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