Sotherly Hotels Reaches Forbearance Agreement on Georgian Terrace Mortgage Loan
Sotherly Hotels Inc. has entered into a Forbearance Agreement with Wilmington Trust, National Association, as Trustee, regarding the mortgage loan on its Georgian Terrace hotel. The agreement, effective December 16, 2025, follows a notice of default received by the company on June 26, 2025, due to missed payments. Under the terms of the Forbearance Agreement, the lender has agreed not to seek a judgment or foreclose on the property before June 1, 2026. Sotherly Hotels Inc. will pay down the principal balance by approximately $3.8 million and continue monthly payments of about $236,000 in principal and interest, along with ongoing reserve funding. Default interest will continue to accrue and become payable upon certain termination events, and the property will remain under cash management.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sotherly Hotels Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-322825), on December 17, 2025, and is solely responsible for the information contained therein.
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