{"success":true,"data":{"pressRelease":{"id":"178800","rtpr_id":"nGNX33SGnN-20261023","ticker":"SUNS","exchange":"NASDAQ","all_tickers":["SUNS"],"title":"Stockholders of Southern Realty Trust, a Tannenbaum Capital Group Affiliate, Approve Merger with Sunrise Realty Trust; Company Declares Stub Period Dividend","author":"Globe Newswire","published_at":"2026-10-23T20:05:00.173Z","article_body":"WEST PALM BEACH, Fla., Oct. 23, 2026 (GLOBE NEWSWIRE) -- Southern Realty Trust\nInc. (“SRT” or the “Company”), a lender on the Tannenbaum Capital\nGroup (“TCG”) Real Estate platform, today announced that its stockholders\napproved the Company’s previously announced merger with Sunrise Realty\nTrust, Inc. (Nasdaq: SUNS) (“SUNS”) (the “Merger”) at the Company’s\nspecial meeting of stockholders held earlier today. SUNS stockholders also\napproved the issuance of SUNS common stock in connection with the Merger at\nSUNS’ special meeting held earlier today. The approvals represent a key\nmilestone toward combining SRT and SUNS into a larger, more efficient\nNasdaq-listed commercial real estate lending platform.\n\n“We appreciate the support of our stockholders as we advance this strategic\ncombination,” said Brian Sedrish, Chief Executive Officer. “The Merger is\nexpected to combine two complementary lending portfolios managed under the\nsame disciplined investment philosophy, allowing a quicker path to scale while\nenhancing our competitiveness and growth potential. We believe the combined\ncompany will be well positioned to continue to generate attractive\nrisk-adjusted returns and build long-term stockholder value.”\n\nUpon closing of the Merger, each outstanding share of SRT common stock will be\nconverted into the right to receive 1.45 newly issued shares of SUNS common\nstock, based on an exchange ratio reflecting a 6.0% premium to SRT’s book\nvalue per share relative to SUNS’ book value per share as of June 30, 2026,\nand $0.05 in cash per SRT share payable by Sunrise Manager LLC, the external\nmanager of SUNS. Former SRT stockholders are expected to own approximately 39%\nof the combined company.\n\nPursuant to the Agreement and Plan of Merger relating to the Merger (the\n“Merger Agreement”), SRT’s Board of Directors declared a prorated cash\ndividend of $0.13 per share of SRT common stock (the “Stub Period\nDividend”) for the fourth quarter through the day prior to the closing of\nthe Merger. The Stub Period Dividend is payable on November 5, 2026 to the\nstockholders of record on November 2, 2026. Separately, SRT’s Board of\nDirectors also declared a special cash distribution of approximately $0.01 per\nshare of SRT common stock, to be funded by SRT Group LLC, SRT’s external\nmanager, and payable on November 4, 2026 to stockholders of record on November\n2, 2026, in each case prior to the closing of the Merger.\n\nThe Merger is expected to close on November 5, 2026, subject to the\nsatisfaction of remaining customary closing conditions. Upon closing, SRT will\nmerge with and into a wholly owned subsidiary of SUNS, and the combined\ncompany will continue to operate as Sunrise Realty Trust, Inc., with its\ncommon stock trading on Nasdaq under the symbol “SUNS.”\n\nAbout Southern Realty Trust Inc.\n\nSouthern Realty Trust Inc. (“SRT” or the “Company”) was formed in 2023\nto originate commercial real estate (“CRE”) debt investments primarily in\nthe Southern U.S. and provide capital to high-quality borrowers and sponsors\nwith transitional business plans collateralized by top-tier CRE assets with\nopportunities for near-term value creation, as well as recapitalization\nopportunities. For additional information regarding the Company, please visit\nwww.theSRTgroup.com.\n\nAbout TCG Real Estate\n\nTCG Real Estate refers to a group of affiliated CRE-focused debt vehicles,\nincluding a Nasdaq-listed mortgage real estate investment trust (“REIT”),\nSunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT,\nSouthern Realty Trust Inc. The vehicles provide flexible financing on\ntransitional CRE properties that present opportunities for near-term value\ncreation, with a focus on top-tier CRE assets located primarily within markets\nin the Southern U.S. benefiting from economic tailwinds with growth potential.\nFor additional information regarding TCG Real Estate, please visit\nwww.theTCG.com.\n\nForward-Looking Statements\n\nCertain statements contained in this press release, including those that\nexpress a belief, expectation or intention, as well as those that are not\nstatements of historical fact, are forward-looking statements. The Company’s\nforward-looking statements are generally accompanied by words such as\n“intend,” “will,” “estimate,” “project,” “predict,”\n“believe,” “expect,” “anticipate,” “potential,” “plan,”\n“goal” or other words that convey the uncertainty of future events or\noutcomes. Statements, among others, relating to the expected timing of the\nclosing of the Merger, the anticipated benefits of the Merger, the expected\nownership of the combined company and the payment of the Stub Period Dividend\nand the special cash distribution are forward-looking statements.\nForward-looking statements contained in this press release speak only as of\nthe date of this press release. The Company disclaims any obligation to update\nthese statements unless required by law, and the Company cautions you not to\nrely on them unduly. The Company has based these forward-looking statements on\nits current expectations and assumptions about future events, which the\nCompany considers reasonable. However, these forward-looking statements are\ninherently subject to significant business, economic, competitive, regulatory\nand other risks, contingencies and uncertainties, most of which are difficult\nto predict and beyond the Company’s control. Actual results and performance\nin the future could differ materially from those set forth in or implied by\nsuch forward-looking statements. Such risks and uncertainties include the risk\nthat the Merger is not completed on the anticipated terms or timeline, or at\nall; the failure to satisfy the remaining closing conditions to the Merger;\nthe occurrence of any event, change or other circumstance that could give rise\nto the termination of the Merger Agreement; the failure to realize the\nanticipated benefits of the Merger; the risk that the businesses of SRT and\nSUNS will not be integrated successfully or that such integration may be more\ndifficult, time-consuming or costly than expected; the effect of the pendency\nor consummation of the Merger on the parties’ business relationships and\noperating results; the risk of stockholder litigation in connection with the\nMerger; risks related to diverting the attention of management from ongoing\nbusiness operations; and fluctuations in the market price of SUNS common\nstock, which may affect the value of the consideration SRT stockholders\nreceive in the Merger.\n\nInvestor Relations Contacts\n\nRobyn Tannenbaum // Will Rotatori\n561-510-2293 // 561-510-6109\nir@thetcg.com\n\nMedia Contact\n\nJim Velgot\n561-510-1416\nir@thetcg.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/61cab754-5b44-4ddc-996c-3e179726f056)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX33SGnN-20261023","title":"Stockholders of Southern Realty Trust, a Tannenbaum Capital Group Affiliate, Approve Merger with Sunrise Realty Trust; Company Declares Stub Period Dividend","author":"Globe Newswire","ticker":"SUNS","created":"2026-10-23T20:05:00.173Z","tickers":["SUNS"],"exchange":"NASDAQ","article_body":"WEST PALM BEACH, Fla., Oct. 23, 2026 (GLOBE NEWSWIRE) -- Southern Realty Trust\nInc. (“SRT” or the “Company”), a lender on the Tannenbaum Capital\nGroup (“TCG”) Real Estate platform, today announced that its stockholders\napproved the Company’s previously announced merger with Sunrise Realty\nTrust, Inc. (Nasdaq: SUNS) (“SUNS”) (the “Merger”) at the Company’s\nspecial meeting of stockholders held earlier today. SUNS stockholders also\napproved the issuance of SUNS common stock in connection with the Merger at\nSUNS’ special meeting held earlier today. The approvals represent a key\nmilestone toward combining SRT and SUNS into a larger, more efficient\nNasdaq-listed commercial real estate lending platform.\n\n“We appreciate the support of our stockholders as we advance this strategic\ncombination,” said Brian Sedrish, Chief Executive Officer. “The Merger is\nexpected to combine two complementary lending portfolios managed under the\nsame disciplined investment philosophy, allowing a quicker path to scale while\nenhancing our competitiveness and growth potential. We believe the combined\ncompany will be well positioned to continue to generate attractive\nrisk-adjusted returns and build long-term stockholder value.”\n\nUpon closing of the Merger, each outstanding share of SRT common stock will be\nconverted into the right to receive 1.45 newly issued shares of SUNS common\nstock, based on an exchange ratio reflecting a 6.0% premium to SRT’s book\nvalue per share relative to SUNS’ book value per share as of June 30, 2026,\nand $0.05 in cash per SRT share payable by Sunrise Manager LLC, the external\nmanager of SUNS. Former SRT stockholders are expected to own approximately 39%\nof the combined company.\n\nPursuant to the Agreement and Plan of Merger relating to the Merger (the\n“Merger Agreement”), SRT’s Board of Directors declared a prorated cash\ndividend of $0.13 per share of SRT common stock (the “Stub Period\nDividend”) for the fourth quarter through the day prior to the closing of\nthe Merger. The Stub Period Dividend is payable on November 5, 2026 to the\nstockholders of record on November 2, 2026. Separately, SRT’s Board of\nDirectors also declared a special cash distribution of approximately $0.01 per\nshare of SRT common stock, to be funded by SRT Group LLC, SRT’s external\nmanager, and payable on November 4, 2026 to stockholders of record on November\n2, 2026, in each case prior to the closing of the Merger.\n\nThe Merger is expected to close on November 5, 2026, subject to the\nsatisfaction of remaining customary closing conditions. Upon closing, SRT will\nmerge with and into a wholly owned subsidiary of SUNS, and the combined\ncompany will continue to operate as Sunrise Realty Trust, Inc., with its\ncommon stock trading on Nasdaq under the symbol “SUNS.”\n\nAbout Southern Realty Trust Inc.\n\nSouthern Realty Trust Inc. (“SRT” or the “Company”) was formed in 2023\nto originate commercial real estate (“CRE”) debt investments primarily in\nthe Southern U.S. and provide capital to high-quality borrowers and sponsors\nwith transitional business plans collateralized by top-tier CRE assets with\nopportunities for near-term value creation, as well as recapitalization\nopportunities. For additional information regarding the Company, please visit\nwww.theSRTgroup.com.\n\nAbout TCG Real Estate\n\nTCG Real Estate refers to a group of affiliated CRE-focused debt vehicles,\nincluding a Nasdaq-listed mortgage real estate investment trust (“REIT”),\nSunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT,\nSouthern Realty Trust Inc. The vehicles provide flexible financing on\ntransitional CRE properties that present opportunities for near-term value\ncreation, with a focus on top-tier CRE assets located primarily within markets\nin the Southern U.S. benefiting from economic tailwinds with growth potential.\nFor additional information regarding TCG Real Estate, please visit\nwww.theTCG.com.\n\nForward-Looking Statements\n\nCertain statements contained in this press release, including those that\nexpress a belief, expectation or intention, as well as those that are not\nstatements of historical fact, are forward-looking statements. The Company’s\nforward-looking statements are generally accompanied by words such as\n“intend,” “will,” “estimate,” “project,” “predict,”\n“believe,” “expect,” “anticipate,” “potential,” “plan,”\n“goal” or other words that convey the uncertainty of future events or\noutcomes. Statements, among others, relating to the expected timing of the\nclosing of the Merger, the anticipated benefits of the Merger, the expected\nownership of the combined company and the payment of the Stub Period Dividend\nand the special cash distribution are forward-looking statements.\nForward-looking statements contained in this press release speak only as of\nthe date of this press release. The Company disclaims any obligation to update\nthese statements unless required by law, and the Company cautions you not to\nrely on them unduly. The Company has based these forward-looking statements on\nits current expectations and assumptions about future events, which the\nCompany considers reasonable. However, these forward-looking statements are\ninherently subject to significant business, economic, competitive, regulatory\nand other risks, contingencies and uncertainties, most of which are difficult\nto predict and beyond the Company’s control. Actual results and performance\nin the future could differ materially from those set forth in or implied by\nsuch forward-looking statements. Such risks and uncertainties include the risk\nthat the Merger is not completed on the anticipated terms or timeline, or at\nall; the failure to satisfy the remaining closing conditions to the Merger;\nthe occurrence of any event, change or other circumstance that could give rise\nto the termination of the Merger Agreement; the failure to realize the\nanticipated benefits of the Merger; the risk that the businesses of SRT and\nSUNS will not be integrated successfully or that such integration may be more\ndifficult, time-consuming or costly than expected; the effect of the pendency\nor consummation of the Merger on the parties’ business relationships and\noperating results; the risk of stockholder litigation in connection with the\nMerger; risks related to diverting the attention of management from ongoing\nbusiness operations; and fluctuations in the market price of SUNS common\nstock, which may affect the value of the consideration SRT stockholders\nreceive in the Merger.\n\nInvestor Relations Contacts\n\nRobyn Tannenbaum // Will Rotatori\n561-510-2293 // 561-510-6109\nir@thetcg.com\n\nMedia Contact\n\nJim Velgot\n561-510-1416\nir@thetcg.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/61cab754-5b44-4ddc-996c-3e179726f056)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-23T20:05:00.219662985Z","server_sent_at_ms":1792785900219},"received_at":"2026-10-23T20:05:00.317Z","source_url":null},"analysis":{"id":"166708","press_release_id":"178800","analysis_json":{"industry":{"label":"Mortgage Real Estate Investment Trusts (REITs)","sector":"Financials"},"redFlags":["closing still subject to remaining customary conditions; termination risk remains per forward-looking statements"],"eventType":"m_and_a","narrative":"Stockholders of Southern Realty Trust approved the merger with Sunrise Realty Trust (Nasdaq: SUNS), and SUNS shareholders approved the related stock issuance, clearing a key milestone toward closing.\n\nAt closing, expected November 5, 2026, each SRT share converts into 1.45 SUNS shares plus $0.05 in cash, and former SRT holders will own roughly 39% of the combined commercial real estate lending platform.\n\nSRT's board also declared a $0.13 stub-period dividend and an approximately $0.01 special distribution, both payable in early November before the deal closes.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Shareholder approvals clear the path for SUNS-SRT merger closing on Nov 5, creating a larger Nasdaq-listed CRE lending platform."},"keyFigures":{"dealValueUsd":0,"customDimensions":{"premium":"6.0% to SRT book value per share as of June 30, 2026","exchange_ratio":"1.45 SUNS shares per SRT share","expected_closing":"November 5, 2026","cash_per_srt_share":"$0.05","special_distribution":"approximately $0.01 per SRT share","stub_period_dividend":"$0.13 per SRT share","former_srt_holders_ownership":"approximately 39%"}},"quotedText":"The Merger is expected to combine two complementary lending portfolios managed under the same disciplined investment philosophy, allowing a quicker path to scale while enhancing our competitiveness and growth potential.","namedEntities":{"people":[{"name":"Brian Sedrish","role":"CEO"},{"name":"Robyn Tannenbaum","role":"Investor Relations contact"},{"name":"Will Rotatori","role":"Investor Relations contact"}],"products":[],"companies":[{"name":"Sunrise Realty Trust, Inc.","ticker":"SUNS","relationship":"acquirer/filer"},{"name":"Southern Realty Trust Inc.","relationship":"merger target"},{"name":"Tannenbaum Capital Group","relationship":"affiliated platform/manager"},{"name":"Sunrise Manager LLC","relationship":"external manager of SUNS"},{"name":"SRT Group LLC","relationship":"external manager of SRT"}],"dollarAmounts":[{"amount":"$0.05","context":"cash per SRT share in merger consideration"},{"amount":"$0.13","context":"Stub Period Dividend per SRT share"},{"amount":"approximately $0.01","context":"special cash distribution per SRT share"}]},"materialImpact":{"score":3,"reasoning":"Both SRT and SUNS stockholders approved the previously announced merger, clearing a key hurdle with closing expected Nov 5, 2026. The deal terms (1.45 shares + $0.05 cash per SRT share, ~39% ownership for former SRT holders) were already disclosed, so this is a milestone rather than new deal economics."},"tickerRelevance":{"others":[{"ticker":"SRT","relevance":"merger target (private, non-listed)"}],"primary":"SUNS"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":["dividend"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"mna-shareholder-approval-milestone","sectorWeight":"financials-mortgage-reit","eventGravityNote":"milestone in previously announced deal; terms unchanged"}},"event_type":"m_and_a","event_type_secondary":["dividend"],"sentiment":"bullish","material_impact_score":3,"narrative":"Stockholders of Southern Realty Trust approved the merger with Sunrise Realty Trust (Nasdaq: SUNS), and SUNS shareholders approved the related stock issuance, clearing a key milestone toward closing.\n\nAt closing, expected November 5, 2026, each SRT share converts into 1.45 SUNS shares plus $0.05 in cash, and former SRT holders will own roughly 39% of the combined commercial real estate lending platform.\n\nSRT's board also declared a $0.13 stub-period dividend and an approximately $0.01 special distribution, both payable in early November before the deal closes.","key_figures":{"dealValueUsd":0,"customDimensions":{"premium":"6.0% to SRT book value per share as of June 30, 2026","exchange_ratio":"1.45 SUNS shares per SRT share","expected_closing":"November 5, 2026","cash_per_srt_share":"$0.05","special_distribution":"approximately $0.01 per SRT share","stub_period_dividend":"$0.13 per SRT share","former_srt_holders_ownership":"approximately 39%"}},"named_entities":{"people":[{"name":"Brian Sedrish","role":"CEO"},{"name":"Robyn Tannenbaum","role":"Investor Relations contact"},{"name":"Will Rotatori","role":"Investor Relations contact"}],"products":[],"companies":[{"name":"Sunrise Realty Trust, Inc.","ticker":"SUNS","relationship":"acquirer/filer"},{"name":"Southern Realty Trust Inc.","relationship":"merger target"},{"name":"Tannenbaum Capital Group","relationship":"affiliated platform/manager"},{"name":"Sunrise Manager LLC","relationship":"external manager of SUNS"},{"name":"SRT Group LLC","relationship":"external manager of SRT"}],"dollarAmounts":[{"amount":"$0.05","context":"cash per SRT share in merger consideration"},{"amount":"$0.13","context":"Stub Period Dividend per SRT share"},{"amount":"approximately $0.01","context":"special cash distribution per SRT share"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-23T20:05:07.210Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap","eventGravity":"mna-shareholder-approval-milestone","sectorWeight":"financials-mortgage-reit","eventGravityNote":"milestone in previously announced deal; terms unchanged"}},"durationMs":6885,"modelName":"glm-5.3-flashx"}}