---
schema_version: "secwatch.filing_event.v1"
accession: "0001497645-25-000084"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2025-07-28T23:59:59+00:00"
generated_at: "2026-05-18T00:14:19.284872+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Properties JV enters $400M term loan facility maturing 2028, extendable to 2030

## Summary
- $400M term loan with Bank of America as admin agent; interest at SOFR + 2.35% or base rate + 1.35%.
- Financial covenants: max leverage 55%, min tangible net worth $593.9M + 75% of future equity proceeds.
- Facility secured by equity interests in subsidiaries holding borrowing base assets; accordion feature to $600M.
- Maturity July 24, 2028, optional two 12-month extensions; no prepayment penalty.
- Summit Hotel Properties, Inc. not a borrower or guarantor; Parent is JV between Summit OP and USFI G-Peak.

## SEC filing metadata
- accession: 0001497645-25-000084
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2025-07-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000149764525000084/0001497645-25-000084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000149764525000084/inn-20250724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001497645-25-000084
- JSON: https://secwatch.observer/filing/0001497645-25-000084.json
- Plain text: https://secwatch.observer/filing/0001497645-25-000084.txt

## Key facts
- Debt Financings
  Summit Hotel Properties, Inc. incurred credit facility of $400 million with Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, as syndication agent, BofA Securities, Inc. and Wells Fargo Securities, LLC, as joint bookrunners, and BofA Securities, Inc., Wells Fargo Securities, LLC, Capital One, National Association, Fifth Third Bank, Nati at Daily SOFR or Term SOFR (1-month or 3-month) (subject to a 0% floor), plus a mar maturing July 24, 2028.
  - Instrument: credit facility
  - Principal: $400 million
  - Counterparty: Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, as syndication agent, BofA Securities, Inc. and Wells Fargo Securities, LLC, as joint bookrunners, and BofA Securities, Inc., Wells Fargo Securities, LLC, Capital One, National Association, Fifth Third Bank, Nati
  - Rate: Daily SOFR or Term SOFR (1-month or 3-month) (subject to a 0% floor), plus a mar
  - Maturity: July 24, 2028
  - Event: incurrence
  source text: On July 24, 2025, Summit JV MR 2, LLC, Summit JV MR 3, LLC and Summit NCI NOLA BR 184, LLC (the “Borrowers”, “we” or “us”), as borrowers, Summit Hospitality JV, LP (the “Parent”), as parent, and each subsidiary of the Borrowers executing the credit facility documentation as a guarantor, entered into a $400 million credit facility (the “Credit Facility”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497645/000149764525000084/0001497645-25-000084-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.