City Office REIT closes $266M Phoenix portfolio sale; condition met for merger

City Office REIT, Inc.

Sold six Phoenix office properties for gross proceeds of $266M; Pima Center ($30M) still under contract.
Net proceeds of ~$278M used to repay $80.5M property-level debt and reduce term loan/revolving facility.
Credit facility amended: revolver reduced to $150M, assets pledged, term loan repaid with proceeds.
Sale satisfies a closing condition in the pending merger agreement with MCME Carell Holdings.
Pro forma balance sheet shows estimated $1.3M loss on sale; total debt reduced to $369M.

item 1.01item 2.01item 9.01item 2.03item 8.01

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.