Mr. David R. Folsom, also known as Dave, has been the President and Chief Operating Officer of Sotherly Hotels Inc., the General Partner of Sotherly Hotels LP (formerly MHI Hospitality, L.P.) since January 19, 2011 and January 2006 respectively. Mr. Folsom served as an Executive Vice President of Sotherly Hotels Inc. from January 2006 to January 19, 2011. Mr. Folsom served as an Executive Vice President of Sotherly Hotels LP since January 2006. Mr. Folsom served as a Vice President of Capital Markets at Paragon Real Estate Equity & Investment Trust. Prior to his tenure at Paragon, he spent several years as an investment banker of BB&T Capital Markets Inc. from 2001 to 2005, where he served on the lead underwriting team in Paragon, initial public offering in 2004. While at BB&T, Mr. Folsom participated in over 75 equity, debt and preferred stock underwritings, as well as financial advisory transactions across many industries. He served concurrently in the Real Estate Securities Group and Debt Capital Markets Group while at BB&T. He also assisted in the coordination of the marketing of BB&T's Low Income Housing Tax Credit product offering to institutional investors. He has been a Director of Sotherly Hotels Inc. since May 25, 2011. the General Partner of Sotherly Hotels LP since May 25, 2011. Prior to joining BB&T, Mr. Folsom served for over 10 years as a commissioned U.S. Marine Corps Officer, including assignments in the Gulf War, U.S. operations in Panama and was a Commanding Officer and an Aide-de-Camp to General Anthony Zinni, who later served as the Mid-East envoy in the Bush Administration. He is a Member of the Beta Gamma Sigma Honor Society and was a Cox Foundation Scholar, where he completed post graduate work at La Sorbonne in Paris, France. Mr. Folsom holds a Bachelor of Science from the U.S. Naval Academy and an MBA from Georgetown University.