Orion Office REIT joint venture extends mortgage notes to Nov 2025, repays $3.4M principal

Orion Properties Inc.

Arch Street Joint Venture repaid $3.4M to satisfy 60% LTV condition and extended mortgage maturity 12 months to Nov 27, 2025.
SOFR loan spread increased to 2.60% from 1.60% per annum; SOFR capped at 5.50% via interest rate cap agreement.
Company provided $1.4M member loan at 15% interest, non-recourse and subordinate to mortgage notes.
Company committed up to $13.5M additional member loan for leasing costs for a pending lease extension at one property.

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