Sotherly Hotels Inc. Announces Refinancing of Savannah Hotel
Sotherly Hotels (NASDAQ: SOHO) has secured a $42.0 million refinancing for its DeSoto Hotel in Savannah, Georgia through Citi Real Estate Funding Inc. The interest-only loan carries a fixed interest rate of 7.13% and matures on October 6, 2030.
The proceeds will be used to repay the existing first mortgage and for general corporate purposes. This refinancing follows the company's independent lifestyle conversion strategy initiated in 2017, which management claims has created substantial value for both the hotel and shareholders.
Sotherly Hotels (NASDAQ: SOHO) ha ottenuto un rifinanziamento da 42,0 milioni di dollari per il DeSoto Hotel a Savannah, GA, tramite Citi Real Estate Funding Inc. Il prestito con interessi solo ha un tasso fisso del 7,13% e scade il 6 ottobre 2030.
I proventi saranno utilizzati per rimborsare l'attuale prima ipoteca e per scopi corporativi generali. Questo rifinanziamento segue la strategia di conversione a lifestyle indipendente avviata nel 2017, che la direzione afferma abbia creato un valore sostanziale sia per l'hotel sia per gli azionisti.
Sotherly Hotels (NASDAQ: SOHO) ha asegurado un refinanciamiento de 42,0 millones de dólares para su DeSoto Hotel en Savannah, Georgia, a través de Citi Real Estate Funding Inc. El préstamo de solo intereses tiene una tasa fija de 7,13% y vence el 6 de octubre de 2030.
Los fondos se utilizarán para cancelar la hipoteca principal existente y para fines corporativos generales. Este refinanciamiento sigue la estrategia de conversión a un estilo de vida independiente iniciada en 2017, que la dirección afirma haber creado un valor sustancial tanto para el hotel como para los accionistas.
Sotherly Hotels (NASDAQ: SOHO)은 조지아주 사바나의 DeSoto 호텔에 대해 Citi Real Estate Funding Inc.를 통해 4200만 달러 재융자를 확보했습니다. 이자만 상환하는 대출로 고정 이자율 7.13%이며 2030년 10월 6일에 만료됩니다.
조달 자금은 기존의 1순위 모기지를 상환하고 일반 기업 용도로 사용될 예정입니다. 이번 재융자는 2017년에 시작된 독립형 라이프스타일 전환 전략을 따른 것이며 경영진은 이 전략이 호텔과 주주 모두에게 상당한 가치를 창출했다고 밝히고 있습니다.
Sotherly Hotels ( NASDAQ : SOHO ) a obtenu un refinancement de 42,0 millions de dollars pour son DeSoto Hotel à Savannah, en Géorgie, via Citi Real Estate Funding Inc. Le prêt à intérêts uniquement affiche un taux fixe de 7,13% et arrive à échéance le 6 octobre 2030.
Les fonds serviront à rembourser l'hypothèque principale existante et à des fins générales d'entreprise. Ce refinancement s’inscrit dans la stratégie de conversion en lifestyle indépendant lancée en 2017, que la direction affirme avoir créé une valeur substantive pour l'hôtel et les actionnaires.
Sotherly Hotels (NASDAQ: SOHO) hat eine Refinanzierung in Höhe von 42,0 Mio. USD für das DeSoto Hotel in Savannah, Georgia, über Citi Real Estate Funding Inc. gesichert. Der zinsbezogene Kredit hat einen festen Zinssatz von 7,13% und läuft am 6. Oktober 2030 ab.
Die Mittel werden verwendet, um die bestehende erste Hypothek abzulösen und für allgemeine Unternehmenszwecke. Diese Refinanzierung folgt der unabhängigen Lifestyle-Conversion-Strategie des Unternehmens, die 2017 begonnen hat und laut dem Management erheblichen Wert sowohl für das Hotel als auch für die Aktionäre geschaffen hat.
Sotherly Hotels (NASDAQ: SOHO) نجحت في تأمين إعادة تمويل بقيمة 42.0 مليون دولار لفندق DeSoto في سافانا، جورجيا عبر Citi Real Estate Funding Inc. القرض بفائدة فقط بمعدل ثابت قدره 7.13% ويستحق في 6 أكتوبر 2030.
سيتم استخدام العائدات لسداد الرهن العقاري الأول القائم وللأغراض العامة للشركة. يأتي هذا التمويل في إطار استراتيجية التحول إلى أسلوب حياة مستقل التي أطلقتها الشركة في عام 2017، ووفقًا للإدارة فقد خلقت قيمة كبيرة لكل من الفندق والمساهمين.
Sotherly Hotels (NASDAQ: SOHO) 已通过 Citi Real Estate Funding Inc. 为其位于乔治亚州萨凡纳的 DeSoto 酒店获得 4200万美元的再融资。此贷款为仅付息，固定利率为 7.13%，于 2030年10月6日 到期。
资金将用于偿还现有的第一抵押贷款及用于一般企业用途。这次再融资是公司在 2017 年启动的独立生活方式转型策略的一部分，管理层称该策略已为酒店和股东创造了实质性价值。
- Secured $42.0 million refinancing with fixed 7.13% interest rate
- Long-term maturity extending to October 2030
- Interest-only loan structure provides payment flexibility
- None.
WILLIAMSBURG, Va., Sept. 17, 2025 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed a
“We are pleased to announce the successful refinancing of the historic DeSoto Savannah hotel,” commented Dave Folsom, Chief Executive Officer of the Company. “This refinancing represents the culmination of our repositioning strategy that began with our independent lifestyle conversion in 2017, which has created substantial value for the hotel and our shareholders.”
About Sotherly Hotels Inc.
Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Sotherly may also opportunistically acquire hotels throughout the United States. Currently, the Company’s portfolio consists of investments in ten hotel properties, comprising 2,786 rooms, as well as interests in two condominium hotels and their associated rental programs. The Company owns hotels that operate under the Hilton Worldwide and Hyatt Hotels Corporation brands, as well as independent hotels. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit www.sotherlyhotels.com.
Contact at the Company: Scott Kucinski Sotherly Hotels Inc. 306 South Henry Street, Suite 100 Williamsburg, Virginia 23185 (757) 229-5648
FAQ
What are the terms of SOHO's new DeSoto Hotel refinancing?
How will Sotherly Hotels use the proceeds from the DeSoto Hotel refinancing?
When did Sotherly Hotels begin its repositioning strategy for the DeSoto Hotel?
What is the collateral for SOHO's new $42 million loan?
