Strategic Realty Trust, Inc.: debt financing — Strategic Realty Trust receives default notice on $18M secured loan; expects to cure

Strategic Realty Trust, Inc.

Lender notified default on SRT Loan (principal ~$18.0M) after failure to pay Jan 9, 2024 maturity.
Loan secured by six properties: five in San Francisco and Silverlake Collection in Los Angeles.
Company expects to satisfy conditions to extend maturity to Jan 9, 2025 and cure default.
If unable to cure, lender could foreclose on the collateral properties.

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

Strategic Realty Trust, Inc. reported a default on loan of principal balance outstanding of approximately $18.0 million with PFP Holding Company, LLC maturing January 9, 2024.

Instrument: loan
Principal: principal balance outstanding of approximately $18.0 million
Counterparty: PFP Holding Company, LLC
Maturity: January 9, 2024
Event: default

Exact text from the filing

and 388 Fulton Street) as well as the Company’s Silverlake Collection located in Los Angeles and as of September 30, 2023, had a principal balance outstanding of approximately $18.0 million. On January 18, 2024, the SRT Lender notified the Company that it was in default on the SRT Loan following its failure to pay the amount of the debt outstanding and due to the

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Source: SEC EDGAR

accession 0001446371-24-000002

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