8-K
filed October 31, 2025, 7:59 PM ET
ticker OPIRQ
CIK 0001456772
other material
confidence high
sentiment negative
materiality 1.00
OFFICE PROPERTIES INCOME TRUST (OPIRQ): going-concern / distress — OPI files Chapter 11, enters RSA to reduce debt from $2.4B to $1.3B
OFFICE PROPERTIES INCOME TRUST
- Filed voluntary Chapter 11 petitions on Oct 30, 2025 in Southern District of Texas to implement comprehensive restructuring.
- RSA with ad hoc noteholder group equitizes ~$1B of existing notes; September 2029 notes convert to $98M equity + $420M takeback debt.
- Balance sheet debt to drop from ~$2.4B to ~$1.3B upon emergence; funded debt rendered unimpaired or restructured.
- Committed $125M debtor-in-possession financing from September 2029 noteholders to support operations during Chapter 11.
- Common shareholders expected to face significant or complete loss; new management agreement with RMR for 5-year term at $14M annual fee.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
OFFICE PROPERTIES INCOME TRUST faced acceleration on credit facility of approximately $425.0 million of outstanding borrowings with Wilmington Savings Fund Society, FSB.
- Instrument
- credit facility
- Principal
- approximately $425.0 million of outstanding borrowings
- Counterparty
- Wilmington Savings Fund Society, FSB
- Event
- acceleration
Exact text from the filing
· approximately $425.0 million of outstanding borrowings (plus any accrued but unpaid interest in respect thereof) under OPI’s second amended and restated credit agreement, dated January 29, 2024, with Wilmington Savings Fund Society, FSB, as successor administrative agent, and the applicable lenders;
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
OFFICE PROPERTIES INCOME TRUST faced acceleration on senior notes of approximately $300.0 million in aggregate outstanding principal amount with U.S. Bank at 9.000% maturing March 2029.
- Instrument
- senior notes
- Principal
- approximately $300.0 million in aggregate outstanding principal amount
- Counterparty
- U.S. Bank
- Rate
- 9.000%
- Maturity
- March 2029
- Event
- acceleration
Exact text from the filing
· approximately $300.0 million in aggregate outstanding principal amount (plus any accrued but unpaid interest in respect thereof) of OPI’s 9.000% Senior Secured Notes due March 2029, issued pursuant to that certain indenture, dated as of February 12, 2024, by and among OPI, the subsidiary guarantors party thereto, and U.S. Bank;
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
OFFICE PROPERTIES INCOME TRUST faced acceleration on mortgage of approximately $123.0 million of mortgage debt with JPMorgan Chase Bank, National Association.
- Instrument
- mortgage
- Principal
- approximately $123.0 million of mortgage debt
- Counterparty
- JPMorgan Chase Bank, National Association
- Event
- acceleration
Exact text from the filing
· approximately $123.0 million of mortgage debt (plus any accrued but unpaid interest in respect thereof) under the loan agreements (a) dated as of August 8, 2023, by and between JPMorgan Chase Bank, National Association (“JPM”), as lender, and Echelon Pkwy MS LLC, as borrower; (b) dated as of June 30, 2023, by and between JPM, as lender, and Rio Robles CA LLC, as borrower; (c) dated as of June 23, 2023, by and between JPM, as lender, and Sterling Park LLC, as borrower; (d) dated as of May 25, 2023, by and between JPM, as lender, and 3300 75th Avenue LLC, as borrower; and (e) dated as of June 27, 2023, by and between JPM, as lender, and Ewing Boulevard LLC, as borrower;
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
OFFICE PROPERTIES INCOME TRUST faced acceleration on mortgage of approximately $54.3 million of mortgage debt with UBS AG.
- Instrument
- mortgage
- Principal
- approximately $54.3 million of mortgage debt
- Counterparty
- UBS AG
- Event
- acceleration
Exact text from the filing
· approximately $54.3 million of mortgage debt (plus any accrued but unpaid interest in respect thereof) under the loan agreement dated as of September 13, 2023, by and among UBS AG, as lender, and Clay Ave Waco LLC and Primerica Pkwy GA LLC, collectively, as borrowers;
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
OFFICE PROPERTIES INCOME TRUST faced acceleration on senior notes of approximately $418.0 million in aggregate outstanding principal amount maturing 2027.
- Instrument
- senior notes
- Principal
- approximately $418.0 million in aggregate outstanding principal amount
- Maturity
- 2027
- Event
- acceleration
Exact text from the filing
· approximately $418.0 million in aggregate outstanding principal amount (plus any accrued but unpaid interest in respect thereof) of the 2027 Senior Secured Notes;
View on SEC.gov
Distress & Bankruptcy
SEC 8-K Item 1.03
confidence 0.9
OFFICE PROPERTIES INCOME TRUST entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2025-10-30).
- Proceeding
- chapter 11
- Court
- United States Bankruptcy Court for the Southern District of Texas
- Petition
- 2025-10-30
Exact text from the filing
On October 30, 2025 (the “Petition Date”), OPI and certain of its subsidiaries (collectively, the “Debtors” or the “Company”) commenced voluntary cases (the “Chapter 11 Cases”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.