Sotherly Hotels Inc. announced that the company has executed an extension which includes amended mortgage loan terms on its first mortgage with TD Bank, collateralized by the DoubleTree by Hilton Philadelphia Airport in Philadelphia, PA. The interest-only loan, which has been reduced by $3.0 million to $35.9 million, matures in April 2026 and carries a floating interest rate based on SOFR plus 3.5%. As part of the transaction, the Borrower purchased an Interest Rate Cap capping SOFR at 3.0%.
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5-day change | 1st Jan Change | ||
1.21 USD | -2.43% | -8.41% | -18.79% |
05-09 | Transcript : Sotherly Hotels Inc., Q1 2024 Earnings Call, May 09, 2024 | |
05-09 | Earnings Flash (SOHO) SOTHERLY HOTELS Reports Q1 Revenue $46.5M | MT |
1st Jan change | Capi. | |
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-18.79% | 23.59M | |
-11.26% | 29.51B | |
-6.01% | 12.9B | |
-11.59% | 11.85B | |
-9.10% | 5.93B | |
-11.68% | 3.56B | |
-1.50% | 3.17B | |
-10.10% | 2.51B | |
+14.60% | 2.34B | |
-13.11% | 2.32B |
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