---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-067729"
form_type: "8-K"
ticker: "PRXK"
cik: "0001692345"
company_name: "PROCACCIANTI HOTEL REIT, INC."
filed_at: "2025-07-14T23:59:59+00:00"
generated_at: "2026-05-18T06:41:16.504410+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Procaccianti Hotel REIT refinances $19.2M debt on Providence Hilton Garden Inn

## Summary
- Borrowed $19.2M via secured promissory note from Rockland Trust to refinance existing $16.9M debt and pay closing costs.
- Interest rate: FHLBB Classic Advance Rate (5-year) plus 2.0% fixed; interest-only for 2 years, then 300-month amortization.
- Maturity date 5 years from July 10, 2025; prepayment penalty 2% in year 1, 1% in year 2, none thereafter.
- Loan secured by first mortgage on 137-room Hilton Garden Inn in Providence, RI; guaranteed by company.
- Refinancing through subsidiary Gano Holdings, LLC; includes customary covenants and events of default.

## SEC filing metadata
- accession: 0001104659-25-067729
- form_type: 8-K
- ticker: PRXK
- cik: 0001692345
- company_name: PROCACCIANTI HOTEL REIT, INC.
- filed_at: 2025-07-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692345/000110465925067729/0001104659-25-067729-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692345/000110465925067729/tm2519233d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-067729
- JSON: https://secwatch.observer/filing/0001104659-25-067729.json
- Plain text: https://secwatch.observer/filing/0001104659-25-067729.txt

## Key facts
- Debt Financings
  PROCACCIANTI HOTEL REIT, INC. incurred loan of $19,200,000 with Rockland Trust Company at FHLBB Fixed Rate plus 2.0% maturing five (5) years from the date of the Refinancing Note.
  - Instrument: loan
  - Principal: $19,200,000
  - Counterparty: Rockland Trust Company
  - Rate: FHLBB Fixed Rate plus 2.0%
  - Maturity: five (5) years from the date of the Refinancing Note
  - Event: incurrence
  source text: On July 10, 2025, the Company, through Gano, as borrower (the “Borrower”), and Rockland Trust Company, as the lender (the “Lender”), entered into a Loan Agreement (the “Refinancing Loan”). In connection with the Refinancing Loan, the Borrower borrowed $19,200,000 and issued a secured promissory note (the “Refinancing Note”) to the Lender in the same amount.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692345/000110465925067729/0001104659-25-067729-index.htm

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