secwatch.observer — SEC 8-K summary
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Issuer:     Lodging Fund REIT III, Inc. (—)
CIK:        0001745032
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001558370-23-010484
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Lodging Fund REIT III CEO resigns; Norman Leslie appointed as CEO and Secretary
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- Corey R. Maple resigned as CEO and Secretary on May 19, 2023; remains Chairman of the Board.
- Norman H. Leslie, age 56, appointed CEO and Secretary effective May 19, 2023; retains President, CIO, Treasurer roles.
- Leslie co-owns external advisor Legendary Capital REIT III with Maple; related-party transactions disclosed including fees.
- A-1 Bonds line of credit increased to $13.3M; $10.7M outstanding as of May 25, 2023.
- NHS, majority-owned by Leslie, provides management services; company made $600K loan to NHS at 7% interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1745032/000155837023010484/0001558370-23-010484-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1745032/000155837023010484/lfr-20230519x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-010484

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer