---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-145335"
form_type: "8-K"
ticker: null
cik: "0001593222"
company_name: "City Office REIT, Inc."
filed_at: "2023-05-16T23:59:59+00:00"
generated_at: "2026-06-14T23:41:17.040598+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# CIO 190 LP consents to receiver; $41.25M loan in default on Richardson, TX property

## Summary
- Subsidiary CIO 190 LP consented to appointment of receiver for 190 Office Center after Event of Default under a $41.25M loan.
- Loan originally from 2015 is secured by the property and is non-recourse to City Office REIT except customary exceptions.
- Company previously recorded a $6.9M impairment for the asset in FY2022 and expects no material future liabilities or gain/loss.
- Receiver now has full possession and control of the office property; noteholder may accelerate the outstanding amount.

## SEC filing metadata
- accession: 0001193125-23-145335
- form_type: 8-K
- cik: 0001593222
- company_name: City Office REIT, Inc.
- filed_at: 2023-05-16T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.04, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1593222/000119312523145335/0001193125-23-145335-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1593222/000119312523145335/d490258d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-145335
- JSON: https://secwatch.observer/filing/0001193125-23-145335.json
- Plain text: https://secwatch.observer/filing/0001193125-23-145335.txt

## Key facts
- Debt Financings
  City Office REIT, Inc. faced acceleration on loan of original principal amount of $41,250,000 with Wilmington Trust, National Association, as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27, Commercial Mortgage Pass-Through Certificates, Series 2015-C27.
  - Instrument: loan
  - Principal: original principal amount of $41,250,000
  - Counterparty: Wilmington Trust, National Association, as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27, Commercial Mortgage Pass-Through Certificates, Series 2015-C27
  - Event: acceleration
  source text: was consented to by CIO 190 and the Plaintiff, a receiver was appointed to assume full possession and control of 190 Office Center. The Loan, in the original principal amount of $41,250,000 is secured by 190 Office Center. The Loan Agreement provides that amounts outstanding thereunder may be accelerated by the noteholder upon an Event of Default. The Loan Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1593222/000119312523145335/0001193125-23-145335-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.