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SoTHERLY unit redeems notes due 2018

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SoTHERLY unit redeems notes due 2018

Sotherly Hotels Inc.'s Sotherly Hotels LP fully redeemed its outstanding 8.00% senior unsecured notes due 2018, which had an aggregate principal amount of $27.6 million.

The company said earlier that the operating partnership will redeem the notes using part of the net proceeds from its recently completed preferred stock offering.