---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-069829"
form_type: "8-K"
ticker: "PRXK"
cik: "0001692345"
company_name: "PROCACCIANTI HOTEL REIT, INC."
filed_at: "2024-06-10T23:59:59+00:00"
generated_at: "2026-06-01T05:19:48.443452+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Procaccianti Hotel REIT refinances Hotel Indigo Traverse City with $15.6M Berkshire Bank loan

## Summary
- Borrowed $15,600,000 from Berkshire Bank to refinance existing debt on the 107-room Hotel Indigo Traverse City.
- Loan matures June 6, 2029 (initial 5-year term) with two 12-month extension options subject to DSCR ≥ 1.50:1.
- Interest rate = 2.50% over 3-year Treasury; interest-only for first 3 years, then amortizing over 300 months.
- Prepayment penalty: 2% (year 1), 1% (year 2), none after year 2.
- Loan secured by first mortgage on property and guaranteed by Procaccianti Hotel REIT, Inc.

## SEC filing metadata
- accession: 0001104659-24-069829
- form_type: 8-K
- ticker: PRXK
- cik: 0001692345
- company_name: PROCACCIANTI HOTEL REIT, INC.
- filed_at: 2024-06-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692345/000110465924069829/0001104659-24-069829-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692345/000110465924069829/tm2416665d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-069829
- JSON: https://secwatch.observer/filing/0001104659-24-069829.json
- Plain text: https://secwatch.observer/filing/0001104659-24-069829.txt

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