[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  David Auerbach ⭕️ [@DailyREITBeat](/creator/twitter/DailyREITBeat) on x 3885 followers Created: 2025-07-07 12:58:52 UTC Hotels: Micro-cap hotel REIT Sotherly Hotels (SOHO) - which owns ten hotel properties comprising XXXXX rooms - dipped X% this week after announcing that it received a default notice from the special servicer for its mortgage loan secured by the Georgian Terrace in Atlanta. SOHO commented that the default on the $XXXX million loan was anticipated, "and does not reflect the company’s ability to serve ongoing interest requirements of the loan." SOHO has hired a consultant to negotiate an extension of the mortgage loan with the special servicer, and proposed extension terms have been provided to the special servicer. SOHO intends to continue making interest payments, as well as real estate tax escrow, and required reserve payments in the interim. SOHO commented, "With tighter underwriting standards and higher interest rates, maturity defaults have unfortunately become far more common in the commercial real estate sector, as borrowers find refinancing assets difficult... SOHO will endeavor to work diligently with the special servicer to find a solution that may include a multi-year extension of the loan."  XX engagements  **Related Topics** [reit](/topic/reit) [Post Link](https://x.com/DailyREITBeat/status/1942206682815225997)
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David Auerbach ⭕️ @DailyREITBeat on x 3885 followers
Created: 2025-07-07 12:58:52 UTC
Hotels:
Micro-cap hotel REIT Sotherly Hotels (SOHO) - which owns ten hotel properties comprising XXXXX rooms - dipped X% this week after announcing that it received a default notice from the special servicer for its mortgage loan secured by the Georgian Terrace in Atlanta. SOHO commented that the default on the $XXXX million loan was anticipated, "and does not reflect the company’s ability to serve ongoing interest requirements of the loan." SOHO has hired a consultant to negotiate an extension of the mortgage loan with the special servicer, and proposed extension terms have been provided to the special servicer. SOHO intends to continue making interest payments, as well as real estate tax escrow, and required reserve payments in the interim. SOHO commented, "With tighter underwriting standards and higher interest rates, maturity defaults have unfortunately become far more common in the commercial real estate sector, as borrowers find refinancing assets difficult... SOHO will endeavor to work diligently with the special servicer to find a solution that may include a multi-year extension of the loan."
XX engagements
Related Topics reit