Sotherly Hotels Inc. Announces Refinancing Of Tampa Hotel
Sotherly Hotels Inc. (SOHO)
Last sotherly hotels inc. earnings: 2/27 06:30 am
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Source: GlobeNewswire
WILLIAMSBURG, Va., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed a $35.0 million secured loan with Citi Real Estate Funding Inc., collateralized by a first mortgage on Hotel Alba, Tapestry Collection by Hilton located in Tampa, Florida. The interest-only loan, which has a principal balance of $35.0 million, matures on March 6, 2029, and carries a fixed interest rate of 8.49%. Proceeds from the loan were used to repay the existing first mortgage and for general corporate purposes. “We are very pleased with the completion of the refinancing of the mortgage loan for the hotel with Citi,” commented Dave Folsom, Chief Executive Officer of the Company. “This refinancing represents the culmination of our repositioning strategy for Hotel Alba which created substantial value for the hotel and resulted in significant cash proceeds of over $10 million to the Company.” About Sotherly Hotels Inc.
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SOHO
News
- Sotherly Hotels Inc. Announces Quarterly Preferred DividendsGlobeNewswire
- Sotherly Hotels Inc. (NASDAQ: SOHO) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Sotherly Hotels Inc. (NASDAQ: SOHO) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Sotherly Hotels Inc. Schedules First Quarter 2024 Earnings Release and Conference CallGlobeNewswire
- Sotherly Hotels Inc. (NASDAQ: SOHO) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
SOHO
Earnings
- 3/6/24 - Beat
SOHO
Sec Filings
- 3/27/24 - Form DEF
- 3/27/24 - Form ARS
- 2/14/24 - Form SC
- SOHO's page on the SEC website