Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

SOTHERLY HOTELS INC.

SOTHERLY HOTELS LP

SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2022

(in thousands)

							Costs Capitalized																Life on
			Initial Costs				Subsequent to Acquisition					Gross Amount At End of Year						Accumulated					Which
					Building &					Building &				Building &				Depreciation			Date of	Date	Depreciation
Description	Encumbrances		Land		Improvements		Land			Improvements		Land		Improvements		Total		& Impairment			Construction	Acquired	is Computed
The DeSoto – Savannah, Georgia	$	31,219	$	600	$	13,562	$	865		$	21,368	$	1,465	$	34,930	$	36,395	$	(15,471	)	1968	2004	3-39 years
DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida		32,416		7,090		14,604		520			7,610		7,610		22,214		29,824		(10,316	)	1970	2005	3-39 years
DoubleTree by Hilton Laurel – Laurel, Maryland		7,412		900		9,443		71			5,900		971		15,343		16,314		(6,935	)	1985	2004	3-39 years
DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania		39,414		2,100		22,031		435			7,168		2,535		29,199		31,734		(13,830	)	1972	2004	3-39 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida		52,724		22,865		67,660		634			9,107		23,499		76,767		100,266		(15,696	)	1972	2015	3-39 years
Georgian Terrace – Atlanta, Georgia		40,493		10,128		45,386		(1,168	)		9,307		8,960		54,693		63,653		(12,982	)	1911	2014	3-39 years
Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida		24,756		4,153		9,670		1,777			26,026		5,930		35,696		41,626		(12,983	)	1973	2007	3-39 years
Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington, North Carolina		31,700		785		16,829		1,139			15,248		1,924		32,077		34,001		(16,319	)	1970	2004	3-39 years
Hyatt Centric Arlington - Arlington, Virginia		47,535		191		70,369		79			1,792		270		72,161		72,431		(9,032	)		2018	3-39 years
The Whitehall – Houston, Texas		14,226		7,374		22,185		171			7,453		7,545		29,638		37,183		(15,615	)	1963	2013	3-39 years
Hyde Resort & Residences		-		226		4,290		-			-		226		4,290		4,516		(651	)	2016	2017	3-39 years
Hyde Beach House Resort & Residences		-		-		5,710		-			-		-		5,710		5,710		(481	)	2019	2019	3-39 years
	$	321,895	$	56,412	$	301,739	$	4,523		$	110,979	$	60,935	$	412,718	$	473,653	$	(130,311	)

(1)For the year ending December 31, 2022, the aggregate cost of our real estate assets for federal income tax purposes was approximately $468.9 million.

RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION

RECONCILIATION OF REAL ESTATE

Balance at December 31, 2020	$	508,153
Acquisitions		—
Improvements		2,147
Disposal of Assets		(680	)
Balance at December 31, 2021	$	509,620
Acquisitions		—
Improvements		6,916
Disposal of Assets		(42,883	)
Balance at December 31, 2022	$	473,653

RECONCILIATION OF ACCUMULATED DEPRECIATION

Balance at December 31, 2020	$	111,758
Current Expense		14,474
Impairment		12,201
Disposal of Assets		(8,538	)
Balance at December 31, 2021	$	129,895
Current Expense		13,462
Impairment		—
Disposal of Assets		(13,046	)
Balance at December 31, 2022	$	130,311