Latham & Watkins Advises Ascendant Capital Partners in Acquisition of Sotherly Hotels Inc.

Kemmons Wilson Hospitality Partners, a hospitality-focused investment management firm, together with Ascendant Capital Partners (Ascendant), a vertically integrated real estate investment and operating platform, through their joint venture, KW Kingfisher LLC, and Sotherly Hotels Inc. (Nasdaq: SOHO) (Sotherly), have announced the successful completion of the definitive merger pursuant to which Sotherly was acquired by the joint venture. The previously announced definitive merger agreement, pursuant to which the joint venture acquired all outstanding shares of Sotherly common stock for US$2.25 per share in cash, was approved by Sotherly stockholders at a special meeting of stockholders held on January 22, 2026, following the prior unanimous approval of Sotherly’s full board of directors and unanimous recommendation from a special committee comprised of independent directors of the Sotherly board.

Latham & Watkins LLP represented Ascendant in the transaction with a team led by Chicago partner Gary Axelrod, San Diego partner James Mann, and Los Angeles partners Brad Helms and Pardis Zomorodi, with associate Trevor Worby and assistance from Austin Urbach.