secwatch.observer — SEC 8-K summary
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Issuer:     City Office REIT, Inc. (—)
CIK:        0001593222
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001193125-23-145335
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1593222/000119312523145335/0001193125-23-145335-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1593222/000119312523145335/d490258d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-145335

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