Occupancy decreased by 2.4% for the year ended December 31, 2025, compared to the same period in 2024, as a result of decreases in transient consumers, group business, and other business travel.

filing / Apr 15, 2026 / receipt

Occupancy increased by 4.4% for the year ended December 31, 2024, compared to the same period in 2023, as a result of increases in transient consumers, group business, and other business travel.

filing / Apr 15, 2026 / receipt

He was appointed to the position of Chief Financial Officer and to the board of directors on February 12, 2026, following the Merger.

filing / Apr 15, 2026 / receipt

On December 13, 2019, we entered into a sublease agreement (the “Sublease”) with Our Town pursuant to which Our Town subleases 2,245 square feet of office space from Sotherly for a period of five years, with a five-year renewal subject to approval by Sotherly, on terms and conditions similar to the terms of the prime lease entered into by Sotherly and the third-party owner of the property.

filing / Apr 15, 2026 / receipt

We expect this transition to support improved cost controls and operating efficiencies through initiatives such as disciplined expense management, centralized systems and procurement strategies, including insurance procurement.

filing / Apr 15, 2026 / receipt

We lease approximately 8,500 square feet of commercial office space in Williamsburg, Virginia for our corporate offices, under an agreement with a ten-year term beginning January 1, 2020.

filing / Apr 15, 2026 / receipt