{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-055788","form_type":"8-K","ticker":"PRXK","cik":"0001692345","company_name":"PROCACCIANTI HOTEL REIT, INC.","filed_at":"2024-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.628463+00:00","generated_at":"2026-06-03T03:02:29.333922+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Procaccianti Hotel REIT refinances two hotels with $23.67M Liberty Bank loan","bullets":["Borrowed $23.67M via two loans secured by St. Petersburg and Wilmington hotels; proceeds used to pay off existing first mortgages.","Interest rate floating at 1-month SOFR + 250 bps; interest-only for 2 years, then 300-month amortization; 5-year maturity.","Loans cross-collateralized and cross-defaulted; guaranteed by Procaccianti Hotel REIT, Inc.","Board authorized Q1 2024 distributions: $680,542 for K Shares, $238,603 for K-I, $521 for K-T, and $22,299 for Class K OP units, at 7% p.a."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-055788","json":"https://secwatch.observer/filing/0001104659-24-055788.json","markdown":"https://secwatch.observer/filing/0001104659-24-055788.md","text":"https://secwatch.observer/filing/0001104659-24-055788.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1692345/000110465924055788/0001104659-24-055788-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1692345/000110465924055788/tm2413016d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T03:02:29.333922+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e6de4ca8dbd6ca8a02c45bc7fda81c7e7327764a","claim":"PROCACCIANTI HOTEL REIT, INC. incurred loan of $23,670,000 with Liberty Bank at one-month term Secured Overnight Financing Rate (“SOFR”) plus two hundred fifty maturing five (5) years from the date of the Refinancing Notes.","evidence_excerpt":"Hotel Loan”, and together with the St. Petersburg Hotel Loan, the “Refinancing Loans”). In connection with the Refinancing Loans, the Company borrowed an aggregate amount of $23,670,000 and issued promissory notes (the “Refinancing Notes”) to Liberty Bank in the same amount. The loan proceeds were primarily used to pay off in full the existing first mortgages on","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1692345/000110465924055788/0001104659-24-055788-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$23,670,000"},{"label":"Counterparty","value":"Liberty Bank"},{"label":"Rate","value":"one-month term Secured Overnight Financing Rate (“SOFR”) plus two hundred fifty"},{"label":"Maturity","value":"five (5) years from the date of the Refinancing Notes"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a22b6ac23c6fc89d0d3cf0999fb87f432015466b","claim":"PROCACCIANTI HOTEL REIT, INC. entered into Loan Agreement with Liberty Bank valued at aggregate amount of $23,670,000 (effective 2024-04-26).","evidence_excerpt":"(i) PHR STPFL, LLC, a Delaware limited company and wholly-owned subsidiary of the Fund (“PHR STPFL”), as borrower, and Liberty Bank, as the lender, entered into the Loan Agreement dated as of April 25, 2024 (the “St. Petersburg Hotel Loan\"), and (ii) PHR WNC, LLC, a Delaware limited company and wholly-owned subsidiary of the Fund (“PHR WNC”), as borrower, and Liberty Bank, as the lender, entered into the Loan Agreement dated April 26, 2024 (the “Wilmington Hotel Loan\", and together with the St. Petersburg Hotel Loan, the “Refinancing Loans”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1692345/000110465924055788/0001104659-24-055788-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Liberty Bank"},{"label":"Value","value":"aggregate amount of $23,670,000"},{"label":"Effective","value":"2024-04-26"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}