Sotherly Hotels Reaches Forbearance Agreement on Georgian Terrace Mortgage Loan
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Sotherly Hotels Inc. has entered a Forbearance Agreement with Wilmington Trust regarding the Georgian Terrace hotel's mortgage loan. Effective December 16, 2025, the agreement follows a default notice due to missed payments. The lender will not foreclose before June 1, 2026. Sotherly will pay down $3.8 million in principal and continue monthly payments. Default interest will accrue, and the property remains under cash management.
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