Sotherly Hotels to be purchased by JV KW Kingfisher for $2.25 per share in cash
Merger Agreement: Sotherly Hotels has entered into a merger agreement with a joint venture led by Kemmons Wilson Hospitality Partners, where KW Kingfisher LLC will acquire all outstanding shares of Sotherly common stock for $2.25 per share in cash.
Premium Offer: The acquisition price represents a significant premium of 152.7% over Sotherly's closing share price on October 24, 2025, and a 126.4% premium to the average share price over the previous 30 days.
Board Approval: The merger has been unanimously approved by Sotherly's board of directors, following a recommendation from a special committee of independent directors, with major stockholder Andrew Sims agreeing to vote in favor of the transaction.
Transaction Timeline: The merger is expected to close in the first quarter of 2026, pending approval from Sotherly stockholders and customary closing conditions, and the company will not hold a conference call for its financial results for the quarter ended September 30.
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Apollo Secures €900 Million Financing for European Logistics Portfolio
- Financing Scale: Apollo-managed funds have completed approximately €900 million in senior secured financing primarily aimed at refinancing existing debt of the Cerberus and Arrow Strategic Industrial Real Estate platform, highlighting strong market demand for high-quality assets.
- Asset Portfolio: The financing encompasses 92 institutional-quality assets totaling over one million square meters, strategically located across key European logistics corridors in the UK, Germany, the Netherlands, Spain, Ireland, and Poland, ensuring geographic diversity and a stable tenant base.
- Market Response: Apollo's investment reflects strong market recognition of the value built across the Cerberus SIRE platform, further solidifying its strategic position in Europe while indicating ongoing demand for high-quality assets.
- Industry Activity: Apollo's Real Estate Credit business remains highly active in Europe, with recent investments including financing for UK student accommodation assets and a new film production hub, demonstrating its significant influence in the non-bank lending market.
Fundraising and Deal-Making to Drive Earnings for Private Asset Managers
Year-End Reporting: Big private asset managers are starting to report their year-end results.
Morgan Stanley Analysts' Focus: Analysts at Morgan Stanley will be particularly interested in two key aspects during these reports.
