secwatch.observer — SEC 8-K summary
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Issuer:     Lodging Fund REIT III, Inc. (—)
CIK:        0001745032
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001558370-24-004592
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lodging Fund REIT III increases affiliate line of credit to $15.5M, refinances $12.61M Lakewood loan
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- Fourth Amendment raises A-1 Line of Credit to $15.5M from $13.3M; maturity extended to Dec 31, 2024.
- New $12.0M Lakewood loan from unaffiliated lender at SOFR+7% (initial 12.327%), matures Oct 2025.
- New $4.9M A-1 Lakewood loan from affiliate at 14.5% fixed; secured by 489,680 partnership units.
- Original $12.61M Lakewood loan (7.0% fixed) repaid in full; extension fee of $138,450 paid to affiliate.
- A-1 Line of Credit now secured by 1,550,000 unissued partnership units; $14.8M outstanding as of Apr 2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1745032/000155837024004592/0001558370-24-004592-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1745032/000155837024004592/lfr-20240327x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-004592

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