PROCACCIANTI HOTEL REIT, INC. 8-K

What Happened
Procaccianti Hotel REIT, Inc. (through its wholly owned subsidiary PHR TCI, LLC) filed an 8-K to disclose a Change in Terms Agreement with Beacon Bank & Trust (successor to Berkshire Bank) dated May 6, 2026. The agreement reduces the interest rate on the existing Refinancing Loan for the Hotel Indigo Traverse City to a fixed rate of 6.50% per annum for the remainder of the loan’s current term, which matures on June 6, 2027. The outstanding principal remains $15,600,000. The Change in Terms Agreement is filed as Exhibit 10.1 to the 8-K.

Key Details

• Interest rate reduced to a fixed 6.50% per annum, effective May 6, 2026.
• Outstanding principal balance of the loan: $15,600,000.
• Loan maturity remains June 6, 2027; collateral and the Company’s corporate guaranty remain unchanged.
• Borrower: PHR TCI, LLC (subsidiary); Lender: Beacon Bank & Trust (successor to Berkshire Bank).

Why It Matters
This change lowers the company’s cash interest cost on the $15.6M hotel loan through its current maturity, which can modestly improve near-term cash flow and reduce interest expense for the remainder of the loan term. The modification does not extend the maturity or change collateral or the corporate guaranty, so it does not alter the Company’s principal repayment schedule or security on the loan. Investors should see this as a refinancing-term improvement rather than a long-term debt restructuring.