WEST PALM BEACH, Fla., Oct. 13, 2026 (GLOBE NEWSWIRE) -- Southern Realty Trust Inc. ("SRT"), a lender on the Tannenbaum Capital Group ("TCG") Real Estate platform, today announced that a joint venture entity owned by SRT and its affiliate completed the sale of the Thompson San Antonio (the "Property") to The Loren Group for $41.0 million. The transaction included $9.0 million of purchaser cash, including deposits and payments made prior to closing, and a $32.0 million senior loan originated by SRT and its affiliate. The Loren Group intends to enhance the guest experience over the coming months with plans to spend an additional $10 million on capital expenditures.

Based on SRT’s 35% ownership interest in the joint venture, SRT’s share of the gross purchase price was approximately $14.4 million, consisting of approximately $3.2 million of purchaser cash and an $11.2 million principal interest in the senior loan, before SRT’s proportionate share of closing costs and other transaction expenses. SRT’s share of the purchase price is consistent with the carrying value of its investment in the joint venture. SRT and its affiliate also continue to pursue available remedies under the former sponsor’s guarantee.

SRT and its affiliate took ownership of the Property in March 2026 through the joint venture following the exercise of their foreclosure rights under their prior senior loan secured by the Property. The Thompson San Antonio, located at 115 Lexington Avenue in San Antonio’s Art District, is part of a 20-story mixed-use development completed in 2020. The Property overlooks the San Antonio Riverwalk and is near attractions such as the Tobin Center for the Performing Arts, Frost Bank Center of the San Antonio Spurs and The Alamo. Comprising approximately 140,000 square feet, the Property features 162 luxury hotel rooms and offers a range of amenities, including a rooftop restaurant, a full-service spa, a gym, and 5,000 square feet of conference facilities.

The Loren Group is a luxury hotel and residential developer, owner, and manager with hotels in Bermuda, Austin and San Antonio, Texas, and an additional property under development in Turks and Caicos that is expected to open in 2027.

About Southern Realty Trust Inc.

Southern Realty Trust Inc. ("SRT" or the "Company") was formed in 2023 to originate commercial real estate ("CRE") debt investments primarily in the Southern U.S. and provide capital to high-quality borrowers and sponsors with transitional business plans collateralized by top-tier CRE assets with opportunities for near-term value creation, as well as recapitalization opportunities. SRT intends to create a diversified investment portfolio, targeting first mortgages, B-notes, mezzanine loans and debt-like preferred securities across CRE asset classes. For additional information regarding the Company, please visit www.theSRTgroup.com.

About TCG Real Estate

TCG Real Estate refers to a group of affiliated CRE-focused debt vehicles, including a Nasdaq-listed mortgage real estate investment trust ("REIT"), Sunrise Realty Trust, Inc. (NASDAQ:SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG Real Estate, please visit www.theTCG.com.

Forward-Looking Statements

Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as "intend," "will," "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "plan," "goal" or other words that convey the uncertainty of future events or outcomes. Statements, among others, relating to the Company’s beliefs with respect to the senior loan originated in connection with the sale of the Property, SRT’s and its affiliate’s pursuit of available remedies under the former sponsor’s guarantee and any potential recovery thereunder, the Property’s positioning in the market, and cash flows and returns related to investments in real estate projects are forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Actual results and performance in the future could differ materially from those set forth in or implied by such forward-looking statements.

Investor Relations Contact

Robyn Tannenbaum

561-510-2293

ir@thetcg.com

Media Contact

Dukas Linden Public Relations

TCG@DLPR.com