Sotherly Hotels: parking garage sale terminated by buyer; mortgage default of $49.3M received

Sotherly Hotels Inc.

Buyer Banyan Street Capital terminated the $17.75M parking garage sale for Georgian Terrace hotel on November 13, 2025.
On November 12, 2025, Sotherly received a Notice of Default on the DoubleTree Resort by Hilton Hollywood Beach mortgage.
The default involves an estimated $49.3 million direct financial obligation to Wilmington Trust, National Association as Trustee.
Sotherly has engaged a consultant to negotiate an extension and remains in a cash trap on the property.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sotherly Hotels Inc. reported a default on mortgage of approximately $49.3 million with Wilmington Trust, National Association, as Trustee.

Instrument: mortgage
Principal: approximately $49.3 million
Counterparty: Wilmington Trust, National Association, as Trustee
Event: default

Exact text from the filing

under the loan documents without further notice or demand. The Company estimates that the amount of the direct financial obligation, as of November 12, 2025, is approximately $49.3 million. The Company has engaged a consultant to negotiate for an extension of the Mortgage Loan with the special servicer, and proposed extension terms have been provided to the special

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Sotherly Hotels Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-282339

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