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Stock Market & Financial Investment News

News Breaks
July 22, 2014
09:09 EDTSOHOSotherly Hotels raises quarterly dividend by 30% to 6.5c per share
Sotherly Hotels announced that its board has declared a quarterly cash dividend of 6.5c per common share of beneficial interest. The quarterly dividend will be paid on October 15, to shareholders of record as of October 2.
News For SOHO From The Last 14 Days
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November 24, 2014
16:16 EDTSOHOSotherly Hotels announces repayment of $19M bridge financing
SoTHERLY Hotels announced the repayment of the $19M secured Bridge Financing with Richmond Hill Capital Partners and Essex Equity Joint Investment Vehicle, which carried a 12.0% yield-to-maturity and had a maturity date of March 26, 2015. The company used a portion of the net proceeds from the previously announced offering by the company's operating partnership of its 7.0% senior unsecured notes to fund the repayment. CEO Drew Sims said, "Consistent with our recent balance sheet enhancements we continue to lower our cost of capital and extend our debt maturities. This transaction will be accretive to 2015 earnings and beyond as we use the vast majority of the unsecured note proceeds to repay the high coupon bridge loan we procured to purchase the Georgian Terrace hotel earlier this year."

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