Attached files
file | filename |
---|---|
EX-99.1 - PRESS RELEASE - Sotherly Hotels Inc. | d269842dex991.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): December 15, 2011
MHI HOSPITALITY CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Maryland | 333-118873 | 20-1531029 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
410 W. Francis Street
Williamsburg, Virginia 23185
(757) 229-5648
(Address, including Zip Code and Telephone Number, including
Area Code, of Principal Executive Offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. | Entry into a Material Definitive Agreement. |
On December 15, 2011, Louisville Hotel Associates, LLC and other affiliates of MHI Hospitality Corporation (MHI or the Company), entered into a Loan Agreement and other loan documents to secure a new $12.2 million non-recourse mortgage (the Mortgage Loan) on the Sheraton Louisville Riverside hotel property with Goldman Sachs Commercial Mortgage Capital, L.P.
Pursuant to the loan documents:
| the term of the Mortgage Loan is five (5) years; and |
| the interest rate applicable to the Mortgage Loan will be fixed at 6.2415% per annum. |
MHI used proceeds of the Mortgage Loan to pay down a related portion of Company indebtedness under its credit facility.
Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth under Item 1.01 of this report is incorporated herein by reference.
Item 7.01. | Regulation FD Disclosure. |
On December 19, 2011, MHI issued a press release announcing the new debt financing of the Sheraton Louisville Riverside hotel. A copy of the press release is furnished as Exhibit 99.1 hereto.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
99.1 | Press Release of MHI Hospitality Corporation dated December 19, 2011, announcing the new debt financing of the Sheraton Louisville Riverside hotel. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 19, 2011
MHI HOSPITALITY CORPORATION | ||
By: | /s/ Andrew M. Sims | |
Andrew M. Sims Chief Executive Officer |
3
Exhibit List
99.1 | Press Release of MHI Hospitality Corporation dated December 19, 2011, announcing the new debt financing of the Sheraton Louisville Riverside hotel. |
4