XML 36 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2
Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

14. Subsequent Events

 

On July 1, 2022, one holder of units in the Operating Partnership redeemed 40,687 units for an equivalent number of shares of the Company's common stock.

On July 11, 2022, we entered into a 5-year interest rate swap agreement with Fifth Third Bank, N.A. whereby the floating rate on the mortgage loan on the Hotel Alba in Tampa, Florida is swapped for a fixed interest rate of 5.576%; notional amounts approximate the declining balance of the loan; and we are responsible for any costs associated with the early termination of the swap agreement.

On July 21, 2022, the Company issued 167,390 shares of common stock to certain of its employees.

On July 25, 2022, the board of directors authorized the deferral of payment of the quarterly distribution for the period ending September 30, 2022, for each of the Company’s Series B, Series C, and Series D Preferred Stock (and Preferred Units).