Sunrise Realty Trust Announces Closing of the $41 Million Sale of the Thompson San Antonio Hotel

SUNS’ approximately $26.7 million gross share combines purchaser cash with a loan interest rather than an all-cash exit.

Rhea-AI Summary

Sunrise Realty Trust (SUNS) announced that its joint venture with an affiliate completed the Thompson San Antonio sale for $41.0 million. The buyer, The Loren Group, provided $9.0 million of cash, including deposits and payments before closing, and received a $32.0 million senior loan originated by SUNS and its affiliate.

With a 65% ownership interest, SUNS’ gross share was approximately $26.7 million: approximately $5.9 million of purchaser cash and a $20.8 million principal interest in the loan, before its share of closing costs and other transaction expenses. SUNS’ purchase-price share is consistent with its investment’s carrying value. The joint venture took ownership in March 2026 after exercising foreclosure rights under the prior senior loan.

1 point · 1 major

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0 major · 1 point

How the balance works

Positive

• Major pointCompleted hotel sale gives SUNS approximately $5.9 million in purchaser cash and a $20.8 million senior-loan principal interest.

Negative

• Minor pointClosing costs and other transaction expenses reduce SUNS’ gross share of the purchase price.

Argus 15 min delay 1 alert

+6.22% vs previous close $6.15 last price 10.8x rel. volume Open Argus

Details

Market Reaction – SUNS

$5.54 – $6.50 Day Range

$83.12M Market Cap

On Oct 13, the day this news came out, the latest delayed price for SUNS is 6.22% above the previous close. The latest delayed price is $6.15. Relative volume is exceptionally heavy at 10.8x the average.

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Key Figures

Sale price: $41.0 million Purchaser cash: $9.0 million Senior loan: $32.0 million +4 more

Sale price

$41.0 million

Thompson San Antonio hotel sale

Purchaser cash

$9.0 million

Includes deposits and payments made before closing

Senior loan

$32.0 million

Originated by SUNS and its affiliate as part of the transaction

SUNS joint venture ownership

65%

Ownership interest used to determine SUNS’ share

SUNS share of gross purchase price

Approximately $26.7 million

Before SUNS’ proportionate closing costs and transaction expenses

SUNS share in purchaser cash

Approximately $5.9 million

SUNS’ share of the gross purchase price

SUNS principal interest in senior loan

$20.8 million

SUNS’ share of the gross purchase price

Historical Context

1 past event · Latest: Aug 06

1 event

1. Aug 06

   Hotel sale terms

   24h Move

   +0.0%

   August filing disclosed the agreed $41 million sale and proposed $32 million senior loan before closing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior loan, capital expenditures, foreclosure rights

3 terms

senior loan financial

"a $32.0 million senior loan originated by SUNS and its affiliate"

A senior loan is a debt that gets paid back before other debts if a borrower runs into trouble, often secured by assets and carrying a floating interest rate. Think of it as being first in line at a repayment window: that priority generally makes it safer than lower-ranking loans or equity, which matters to investors because it affects expected return, default risk, and how much they might recover if the borrower fails.

capital expenditures financial

"plans to spend an additional $10 million on capital expenditures"

Capital expenditures are the money a company spends to buy or improve big assets like buildings, equipment, or machines that will last a long time. These investments matter because they help the company grow and operate more efficiently, similar to how upgrading a home’s appliances or adding a new room can make it better and more valuable.

View in glossary

foreclosure rights financial

"following the exercise of their foreclosure rights under their prior senior loan"

The legal powers a secured creditor or lienholder has to take and sell collateral when a borrower fails to meet loan obligations. Foreclosure rights are set by the loan contract and by state or national law and typically allow the lender to seize the pledged property (most often real estate), follow either a judicial or non‑judicial process, and apply sale proceeds to the outstanding debt after paying higher‑priority claims and legal costs.

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WEST PALM BEACH, Fla., Oct. 13, 2026 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS”) (Nasdaq: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that a joint venture entity owned by SUNS and its affiliate completed the sale of the Thompson San Antonio (the “Property”) to The Loren Group for $41.0 million. The transaction included $9.0 million of purchaser cash, including deposits and payments made prior to closing, and a $32.0 million senior loan originated by SUNS and its affiliate. The Loren Group intends to enhance the guest experience over the coming months with plans to spend an additional $10 million on capital expenditures.

Based on SUNS’ 65% ownership interest in the joint venture, SUNS’ share of the gross purchase price was approximately $26.7 million, consisting of approximately $5.9 million of purchaser cash and a $20.8 million principal interest in the senior loan, before SUNS’ proportionate share of closing costs and other transaction expenses. SUNS’ share of the purchase price is consistent with the carrying value of its investment in the joint venture. SUNS and its affiliate also continue to pursue available remedies under the former sponsor’s guarantee.

SUNS and its affiliate took ownership of the Property in March 2026 through the joint venture following the exercise of their foreclosure rights under their prior senior loan secured by the Property. The Thompson San Antonio, located at 115 Lexington Avenue in San Antonio’s Art District, is part of a 20-story mixed-use development completed in 2020. The Property overlooks the San Antonio Riverwalk and is near attractions such as the Tobin Center for the Performing Arts, Frost Bank Center of the San Antonio Spurs and The Alamo. Comprising approximately 140,000 square feet, the Property features 162 luxury hotel rooms and offers a range of amenities, including a rooftop restaurant, a full-service spa, a gym, and 5,000 square feet of conference facilities.

The Loren Group is a luxury hotel and residential developer, owner, and manager with hotels in Bermuda, Austin and San Antonio, Texas, and an additional property under development in Turks and Caicos that is expected to open in 2027.

About Sunrise Realty Trust, Inc.

Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) is an institutional commercial real estate (“CRE”) lender providing flexible financing solutions to sponsors of CRE projects located primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets. For additional information regarding the Company, please visit www.sunriserealtytrust.com.

About TCG Real Estate

TCG Real Estate refers to a group of affiliated CRE-focused debt vehicles, including a Nasdaq-listed mortgage real estate investment trust (“REIT”), Sunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG Real Estate, please visit www.theTCG.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect our current views and projections with respect to, among other things, the senior loan originated in connection with the sale of the Property, SUNS’ and its affiliate’s pursuit of available remedies under the former sponsor’s guarantee and any potential recovery thereunder, and financial results. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “may,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, including the purchaser’s ability to perform its obligations under the senior loan, SUNS’ and its affiliate’s ability to realize any recovery under the former sponsor’s guaranty, and other factors could cause actual results and performance to differ materially from those projected in these forward-looking statements. More information on these risks and other potential factors that could affect our business and financial results is included in SUNS’ filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of SUNS’ Annual Report on Form 10-K filed on March 12, 2026, and subsequently filed Quarterly Reports on Form 10-Q. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect SUNS. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact

Robyn Tannenbaum
561-510-2293
ir@thetcg.com

Media Contact

Doug Allen
Dukas Linden Public Relations
646-722-6530
TCG@DLPR.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Sunrise Realty Trust’s joint venture receive for the Thompson San Antonio hotel?

The joint venture sold the hotel to The Loren Group for $41.0 million. Consideration comprised $9.0 million of purchaser cash, including deposits and payments made before closing, and a $32.0 million senior loan originated by SUNS and its affiliate.

What is SUNS’ share of the Thompson San Antonio sale?

SUNS’ 65% ownership interest gives it approximately $26.7 million of the gross purchase price. That consists of approximately $5.9 million of purchaser cash and a $20.8 million principal interest in the senior loan, before its proportionate share of closing costs and other transaction expenses.