Sotherly Hotels Inc. Announces Refinancing of Savannah Hotel

WILLIAMSBURG, Va., Sept. 17, 2025 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed a $42.0 million secured loan with Citi Real Estate Funding Inc., collateralized by a first mortgage on the DeSoto Hotel in Savannah, Georgia. The interest-only loan, which has a principal balance of $42.0 million, matures on October 6, 2030, and carries a fixed interest rate of 7.13%. Proceeds from the loan were used to repay the existing first mortgage and for general corporate purposes.