Sotherly Hotels Inc SOHO:NASDAQ

Last Price$2.15Cboe Real-Time Last Sale as of 1:29PM ET 4/09/20
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Sotherly Hotels Buys Hyde Beach House Resort & Residences for $5 Million

4:10PM ET 9/30/2019 MT Newswires
Sotherly Hotels (SOHO), a self-managed and self-administered lodging real estate investment trust, said after the close on Monday that it has purchased the hotel commercial unit of the Hyde Beach House Resort & Residences for $5.4 million.

Sotherly said in a statement that it also has signed a 20-year management agreement for the parking garage and poolside cabanas of the Hollywood, Fla.-based resort, in addition to an agreement to operate the condominium association.

The recently completed 342-unit condominium-hotel consists of 265 use-restricted units and 77 residences.

The company said it has received $1 million regarding some pre-opening preparations.

Price: 6.69, Change: +0.05, Percent Change: +0.75