Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

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, 2024

(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	$	34,220	$	600	$	13,562	$	948		$	28,273	$	1,548	$	41,835	$	43,383	$	(18,452	)	1968	2004	3-39 years
DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida		26,057		7,090		14,604		546			8,866		7,636		23,470		31,106		(12,017	)	1970	2005	3-39 years
DoubleTree by Hilton Laurel – Laurel, Maryland		10,000		900		9,443		77			6,213		977		15,656		16,633		(8,001	)	1985	2004	3-39 years
DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania		35,915		2,100		22,031		454			9,181		2,554		31,212		33,766		(15,560	)	1972	2004	3-39 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida		50,212		22,865		67,660		829			9,825		23,694		77,485		101,178		(20,113	)	1972	2015	3-39 years
Georgian Terrace – Atlanta, Georgia		38,375		10,128		45,386		(1,135	)		11,086		8,993		56,472		65,465		(16,663	)	1911	2014	3-39 years
Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida		35,000		4,153		9,670		1,909			26,249		6,062		35,919		41,982		(15,455	)	1973	2007	3-39 years
Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington, North Carolina		29,770		785		16,829		1,002			16,069		1,787		32,898		34,685		(18,795	)	1970	2004	3-39 years
Hyatt Centric Arlington - Arlington, Virginia		45,317		191		70,369		78			2,796		270		73,165		73,434		(12,846	)		2018	3-39 years
The Whitehall – Houston, Texas		13,777		7,374		22,185		249			8,059		7,623		30,244		37,867		(17,117	)	1963	2013	3-39 years
Hyde Resort & Residences		-		226		4,290		-			-		226		4,290		4,517		(871	)	2016	2017	3-39 years
Hyde Beach House Resort & Residences		-		-		5,710		-			-		-		5,710		5,710		(777	)	2019	2019	3-39 years
	$	318,643	$	56,412	$	301,739	$	4,957		$	126,617	$	61,370	$	428,356	$	489,726	$	(156,667	)

(1)For the year ending December 31, 2024, the aggregate cost of our real estate assets for federal income tax purposes was approximately $478.7 million.

RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION

RECONCILIATION OF REAL ESTATE

Balance at December 31, 2021	$	509,620
Acquisitions		—
Improvements		6,916
Disposal of Assets		(42,883	)
Balance at December 31, 2022	$	473,653
Acquisitions		—
Improvements		6,863
Disposal of Assets		(568	)
Balance at December 31, 2023	$	479,948
Acquisitions		—
Improvements		10,872
Disposal of Assets		(1,094	)
Balance at December 31, 2024	$	489,726

RECONCILIATION OF ACCUMULATED DEPRECIATION

Balance at December 31, 2021	$	129,895
Current Expense		13,462
Impairment		—
Disposal of Assets		(13,046	)
Balance at December 31, 2022	$	130,311
Current Expense		13,586
Impairment		—
Disposal of Assets		(440	)
Balance at December 31, 2023	$	143,457
Current Expense		14,306
Impairment		—
Disposal of Assets		(1,096	)
Balance at December 31, 2024	$	156,667