--- schema_version: "secwatch.filing_event.v1" accession: "0001558370-24-004769" form_type: "8-K/A" ticker: null cik: "0001745032" company_name: "Lodging Fund REIT III, Inc." filed_at: "2024-04-05T23:59:59+00:00" generated_at: "2026-06-04T01:52:15.035669+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Lodging Fund REIT III amends credit line to $15.5M and refinances Lakewood hotel with $16.9M in new loans ## Summary - Extended A-1 Line of Credit to $15.5M, maturity December 31, 2024, interest rate 14.5% per annum - Terminated $12.61M Original Lakewood Loan, repaid using proceeds from new loans - Entered $12.0M New Lakewood Loan with Bluebird Credit EM LLC at SOFR+7.0%, maturity October 2025 - Obtained up to $4.9M New A-1 Lakewood Loan from Legendary A-1 Bonds at 14.5% fixed, due March 2026 - Paid $133,000 extension fee on A-1 Line and $138,450 unpaid extension fee on Original Lakewood Loan ## SEC filing metadata - accession: 0001558370-24-004769 - form_type: 8-K/A - cik: 0001745032 - company_name: Lodging Fund REIT III, Inc. - filed_at: 2024-04-05T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 2.03, 1.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1745032/000155837024004769/0001558370-24-004769-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1745032/000155837024004769/lfr-20240327x8ka.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001558370-24-004769 - JSON: https://secwatch.observer/filing/0001558370-24-004769.json - Plain text: https://secwatch.observer/filing/0001558370-24-004769.txt ## Key facts - Debt Financings Lodging Fund REIT III, Inc. incurred loan of $12.0 million with Bluebird Credit EM LLC at SOFR Index plus 7.0% (increasing to 7.5% during the extension of the loan), with maturing October 5, 2025. - Instrument: loan - Principal: $12.0 million - Counterparty: Bluebird Credit EM LLC - Rate: SOFR Index plus 7.0% (increasing to 7.5% during the extension of the loan), with - Maturity: October 5, 2025 - Event: incurrence source text: On March 27, 2024, pursuant to the Loan Agreement dated as of March 27, 2024 (the “New Lakewood Loan Agreement”), the Borrower entered into a new $12.0 million loan with Bluebird Credit EM LLC (the “New Lakewood Lender”), which is secured by the 142-room Fairfield Inn and Suites in Lakewood, Colorado (the “New Lakewood Loan”). evidence_url: https://www.sec.gov/Archives/edgar/data/1745032/000155837024004769/0001558370-24-004769-index.htm - Debt Financings Lodging Fund REIT III, Inc. amended revolving credit of $15.5 million with Legendary A-1 Bonds, LLC at 14.5% per annum maturing December 31, 2024. - Instrument: revolving credit - Principal: $15.5 million - Counterparty: Legendary A-1 Bonds, LLC - Rate: 14.5% per annum - Maturity: December 31, 2024 - Event: amendment source text: On March 27, 2024, the Operating Partnership and the A-1 Lender entered into a Fourth Amendment to the Revolving Line of Credit Loan Agreement (the “Fourth Amendment”) in connection with the A-1 Line of Credit. The Fourth Amendment extended the maturity date of the A-1 Line of Credit to December 31, 2024 and increased the A-1 Line of Credit to $15.5 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1745032/000155837024004769/0001558370-24-004769-index.htm - Debt Financings Lodging Fund REIT III, Inc. incurred loan of $4,896,801 with Legendary A-1 Bonds, LLC at 14.5% per annum maturing March 27, 2026. - Instrument: loan - Principal: $4,896,801 - Counterparty: Legendary A-1 Bonds, LLC - Rate: 14.5% per annum - Maturity: March 27, 2026 - Event: incurrence source text: On March 27, 2024, pursuant to the Loan Agreement dated as of March 27, 2024, the Operating Partnership entered into a new loan in an amount up to $4,896,801 (the “New A-1 Lakewood Loan”) with the A-1 Lender, an affiliate of the Company’s Advisor. evidence_url: https://www.sec.gov/Archives/edgar/data/1745032/000155837024004769/0001558370-24-004769-index.htm - Material Agreements Lodging Fund REIT III, Inc. amended Fourth Amendment to the Revolving Line of Credit Loan Agreement with Legendary A-1 Bonds, LLC valued at $15.5 million (effective 2024-03-27). - Action: amendment - Agreement: credit facility - Counterparty: Legendary A-1 Bonds, LLC - Value: $15.5 million - Effective: 2024-03-27 source text: On March 27, 2024, the Operating Partnership and the A-1 Lender entered into a Fourth Amendment to the Revolving Line of Credit Loan Agreement (the “Fourth Amendment”) in connection with the A-1 Line of Credit. The Fourth Amendment extended the maturity date of the A-1 Line of Credit to December 31, 2024 and increased the A-1 Line of Credit to $15.5 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1745032/000155837024004769/0001558370-24-004769-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.