Procaccianti Hotel REIT modifies swap to 5.13% fixed rate, extends loan to Aug 2024

PROCACCIANTI HOTEL REIT, INC.

Modified swap derivative with Citizens Bank fixes rate at 5.13% on $15,092,000 notional, effective Aug 15, 2023.
Loan maturity extended to August 15, 2024 under third extended term of the Citizens Bank loan.
Modification relates to subsidiary's loan for a hotel property in Traverse City, Michigan originally $17.8 million.

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