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.

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