| Schedule III - Real Estate and Accumulated Depreciation |
SOTHERLY HOTELS INC. SOTHERLY HOTELS LP SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2025 (in thousands)
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Costs Capitalized |
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Life on |
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Initial Costs |
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Subsequent to Acquisition |
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Gross Amount At End of Year |
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Accumulated |
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Which |
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Building & |
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Building & |
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Building & |
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Depreciation |
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Date of |
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Date |
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Depreciation |
Description |
Encumbrances |
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Land |
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Improvements |
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Land |
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Improvements |
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Land |
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Improvements |
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Total |
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& Impairment |
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Construction |
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Acquired |
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is Computed |
The DeSoto – Savannah, Georgia |
$ |
42,000 |
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$ |
600 |
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$ |
13,562 |
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$ |
948 |
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$ |
29,717 |
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$ |
1,548 |
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$ |
43,279 |
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$ |
44,827 |
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$ |
(20,232 |
) |
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1968 |
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2004 |
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3-39 years |
DoubleTree by Hilton Jacksonville
Riverfront – Jacksonville, Florida |
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25,592 |
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7,090 |
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14,604 |
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546 |
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12,181 |
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7,636 |
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26,785 |
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34,421 |
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(12,982 |
) |
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1970 |
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2005 |
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3-39 years |
DoubleTree by Hilton Laurel – Laurel,
Maryland |
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10,000 |
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900 |
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9,443 |
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77 |
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6,550 |
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977 |
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15,993 |
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16,970 |
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(8,672 |
) |
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1985 |
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2004 |
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3-39 years |
DoubleTree by Hilton Philadelphia
Airport – Philadelphia, Pennsylvania |
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35,915 |
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2,100 |
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22,031 |
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450 |
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9,893 |
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2,550 |
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31,924 |
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34,474 |
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(16,115 |
) |
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1972 |
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2004 |
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3-39 years |
DoubleTree Resort by Hilton
Hollywood Beach - Hollywood
Beach, Florida |
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48,967 |
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22,865 |
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67,660 |
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830 |
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10,006 |
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23,695 |
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77,666 |
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101,361 |
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(22,313 |
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1972 |
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2015 |
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3-39 years |
Georgian Terrace – Atlanta, Georgia |
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33,470 |
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10,128 |
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45,386 |
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(1,135 |
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11,762 |
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8,993 |
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57,148 |
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66,141 |
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(18,480 |
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1911 |
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2014 |
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3-39 years |
Hotel Alba Tampa, Tapestry Collection
by Hilton – Tampa, Florida |
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35,000 |
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4,153 |
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9,670 |
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1,909 |
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27,227 |
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6,062 |
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36,897 |
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42,959 |
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(16,621 |
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1973 |
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2007 |
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3-39 years |
Hotel Ballast Wilmington,
Tapestry Collection by Hilton – Wilmington,
North Carolina |
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28,742 |
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785 |
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16,829 |
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1,002 |
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17,230 |
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1,787 |
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34,059 |
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35,846 |
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(20,035 |
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1970 |
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2004 |
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3-39 years |
Hyatt Centric Arlington - Arlington,
Virginia |
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44,118 |
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191 |
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70,369 |
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79 |
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3,053 |
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270 |
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73,422 |
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73,692 |
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(14,777 |
) |
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2018 |
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3-39 years |
The Whitehall – Houston, Texas |
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13,486 |
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7,374 |
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22,185 |
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362 |
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8,191 |
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7,736 |
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30,376 |
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38,112 |
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(17,922 |
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1963 |
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2013 |
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3-39 years |
Lyfe Resort & Residences |
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- |
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226 |
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4,290 |
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- |
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8 |
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226 |
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4,298 |
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4,524 |
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(2,293 |
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2016 |
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2017 |
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3-39 years |
Hyde Beach House Resort &
Residences |
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- |
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- |
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5,710 |
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- |
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0 |
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- |
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5,710 |
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5,710 |
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(925 |
) |
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2019 |
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2019 |
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3-39 years |
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$ |
317,290 |
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$ |
56,412 |
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$ |
301,739 |
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$ |
5,067 |
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$ |
135,818 |
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$ |
61,480 |
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$ |
437,557 |
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$ |
499,037 |
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$ |
(171,367 |
) |
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(1)For the year ending December 31, 2025, the aggregate cost of our real estate assets for federal income tax purposes was approximately $461.0 million. RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION RECONCILIATION OF REAL ESTATE
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Balance at December 31, 2022 |
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$ |
473,653 |
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Acquisitions |
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— |
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Improvements |
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6,863 |
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Disposal of Assets |
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(568 |
) |
Balance at December 31, 2023 |
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$ |
479,948 |
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Acquisitions |
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— |
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Improvements |
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10,872 |
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Disposal of Assets |
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(1,094 |
) |
Balance at December 31, 2024 |
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$ |
489,726 |
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Acquisitions |
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— |
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Improvements |
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10,669 |
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Disposal of Assets |
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(1,358 |
) |
Balance at December 31, 2025 |
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$ |
499,037 |
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RECONCILIATION OF ACCUMULATED DEPRECIATION
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Balance at December 31, 2022 |
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$ |
130,311 |
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Current Expense |
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13,586 |
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Impairment |
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— |
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Disposal of Assets |
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(440 |
) |
Balance at December 31, 2023 |
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$ |
143,457 |
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Current Expense |
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14,306 |
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Impairment |
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— |
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Disposal of Assets |
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(1,096 |
) |
Balance at December 31, 2024 |
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$ |
156,667 |
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Current Expense |
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|
14,648 |
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Impairment |
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1,310 |
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Disposal of Assets |
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(1,258 |
) |
Balance at December 31, 2025 |
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$ |
171,367 |
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