Sotherly enters forbearance on Georgian Terrace hotel; lender agrees no foreclosure until June 2026

Sotherly Hotels Inc.

Entered forbearance agreement with Wilmington Trust on $37.7M mortgage; lender will not foreclose before June 1, 2026.
Company to pay down principal by ~$3.8M and continue monthly P&I of ~$236,000.
Default interest continues to accrue; property remains in cash management.
Loan was in default due to non-payment at June 1, 2025 maturity.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sotherly Hotels Inc. entered into Forbearance Agreement with Wilmington Trust, National Association, as Trustee (effective 2025-12-16).

Action: entry
Agreement: credit facility
Counterparty: Wilmington Trust, National Association, as Trustee
Effective: 2025-12-16

Exact text from the filing

On December 16, 2025, affiliates of the Company entered into a Forbearance Agreement (the "Forbearance Agreement") with Wilmington Trust, National Association, as Trustee, with regard to the Mortgage Loan.

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Sotherly Hotels Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-322825

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