secwatch.observer — SEC 8-K summary
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Issuer:     Orion Properties Inc. (ONL)
CIK:        0001873923
Form:       8-K
Filed at:   2022-02-14T23:59:59+00:00
Accession:  0001104659-22-022690
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orion Office REIT secures $355M fixed-rate mortgage loan at 4.821% from Wells Fargo
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- Loan bears interest at 4.821% p.a. (max 4.971% after securitization), matures Feb 2027, interest-only.
- Proceeds used to repay $355M CMBS Bridge Credit Agreement terminated concurrently.
- Loan secured by 19 properties; $35.5M loan reserves funded for rent concessions and tenant improvements.
- Guarantor must maintain net worth ≥$355M and liquid assets ≥$10M, excluding collateral.
- Compensation Committee approved pro-rated 2021 bonuses: CEO $73,836, CFO $60,411, CLO $40,274.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1873923/000110465922022690/0001104659-22-022690-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1873923/000110465922022690/tm226310d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-022690

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