Joint Book-runner
Sotherly Hotels Inc.
Debt Capital Markets
Senior Unsecured Notes
Transaction Details
- On February 12, 2018, Sotherly Hotels Inc.’s (NASDAQ:SOHO) operating partnership, Sotherly Hotels LP (the “Operating Partnership”), issued $25.0 million of 7.250% Senior Unsecured Notes due 2021
- The Operating Partnership intends to use the net proceeds from this offering, together with existing cash on hand and the proceeds from additional financing sources, to finance the purchase price of the Hyatt Centric Arlington hotel and for general corporate purposes
- Stephens Inc. acted as a joint book-runner on the offering
About the company
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. Currently, the Company’s portfolio consists of investments in eleven hotel properties, comprising 2,838 rooms, and an interest in the Hyde Resort & Residences, a luxury condo hotel. Most of the Company’s properties operate under the Hilton Worldwide, InterContinental Hotels Group and Marriott International, Inc. brands. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information visit www.sotherlyhotels.com.
Sources: Company documents and Stephens Inc. internal data.
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