secwatch.observer — SEC 8-K summary
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Issuer:     Lodging Fund REIT III, Inc. (—)
CIK:        0001745032
Form:       8-K
Filed at:   2023-05-19T23:59:59+00:00
Accession:  0001558370-23-010252
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Lodging Fund REIT III extends Holiday Inn El Paso loan to May 2024, reduces principal by $300K
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- Original $7.9M loan due May 15, 2023 modified to extend maturity to May 15, 2024.
- Borrower paid down $300K, reducing outstanding principal to $7.6M.
- Additional condition: deposit $819,674 into FF&E reserve account held by lender.
- Operating Partnership amended contribution agreement to allow adjustment for Contributor's Series T unit conversion if needed.
- Other material loan terms remain unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1745032/000155837023010252/0001558370-23-010252-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1745032/000155837023010252/lfr-20230515x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-010252

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