---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-181880"
form_type: "8-K"
ticker: null
cik: "0001593222"
company_name: "City Office REIT, Inc."
filed_at: "2025-08-15T23:59:59+00:00"
generated_at: "2026-05-17T12:24:30.176600+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-181880
- form_type: 8-K
- cik: 0001593222
- company_name: City Office REIT, Inc.
- filed_at: 2025-08-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 9.01, 2.03, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1593222/000119312525181880/0001193125-25-181880-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1593222/000119312525181880/d927791d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-181880
- JSON: https://secwatch.observer/filing/0001193125-25-181880.json
- Plain text: https://secwatch.observer/filing/0001193125-25-181880.txt

## Key facts
- M&A Transactions
  City Office REIT, Inc. completed a disposition involving an unaffiliated buyer for $266 million (closed 2025-08-15).
  - Action: disposition
  - Counterparty: an unaffiliated buyer
  - Consideration: $266 million
  - Closing: 2025-08-15
  source text: On August 15, 2025, the Company closed on the sale of six of the Company’s previously-announced dispositions of its seven office properties located in Phoenix, Arizona (the “First Phoenix Closing”) to an unaffiliated buyer for an aggregate purchase price of $266 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1593222/000119312525181880/0001193125-25-181880-index.htm

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