secwatch.observer — SEC 8-K summary
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Issuer:     Sotherly Hotels Inc. (SOHOO)
CIK:        0001301236
Form:       8-K
Filed at:   2024-08-15T23:59:59+00:00
Accession:  0000950170-24-097557
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Sotherly Hotels secures $5M second mortgage on DeSoto hotel at 7.5% fixed rate
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- Second mortgage loan of $5.0 million on DeSoto hotel in Savannah, GA, with MONY Life Insurance.
- Fixed interest rate of 7.50%, maturity July 1, 2026, 25-year amortization schedule.
- Prepayment allowed with premium due; customary covenants and events of default included.
- Loan documents entered on August 14, 2024, by affiliates of Sotherly Hotels Inc.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1301236/000095017024097557/0000950170-24-097557-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1301236/000095017024097557/soho-20240708.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-097557

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