secwatch.observer — SEC 8-K summary
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Issuer:     Sotherly Hotels Inc. (SOHOO)
CIK:        0001301236
Form:       8-K
Filed at:   2025-09-17T23:59:59+00:00
Accession:  0001193125-25-206131
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1301236/000119312525206131/0001193125-25-206131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1301236/000119312525206131/soho-20250912.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-206131

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