Sotherly Hotels secures $42M mortgage loan on Savannah's DeSoto Hotel at 7.13% fixed rate

Sotherly Hotels Inc.

$42M principal, 7.13% fixed interest, matures October 6, 2030; interest-only payments.
Loan from Citi Real Estate Funding Inc., net proceeds of ~$5.78M after lender reserves.
Proceeds used to repay existing first mortgage and for general corporate purposes.
Guarantee limited to 'bad boy' acts; prepayable with defeasance after lockout period.
Collateral is the historic DeSoto Hotel in Savannah, GA; CEO cites successful repositioning.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Sotherly Hotels Inc. incurred mortgage of $42.0 million with Citi Real Estate Funding Inc. at fixed interest rate of 7.13% maturing matures on October 6, 2030.

Instrument: mortgage
Principal: $42.0 million
Counterparty: Citi Real Estate Funding Inc.
Rate: fixed interest rate of 7.13%
Maturity: matures on October 6, 2030
Event: incurrence

Exact text from the filing

On September 12, 2025, affiliates of Sotherly Hotels Inc. (the “Company”), the sole general partner of Sotherly Hotels LP (the “Operating Partnership”), entered into loan documents to secure a $42.0 million mortgage loan (the “Mortgage Loan”) on The DeSoto hotel (the “Hotel”) located in Savannah, GA with Citi Real Estate Funding Inc.

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306 debt financings filed in the last 30 days. Browse all debt financings →

Sotherly Hotels Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-206131

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