8-K filed February 19, 2026, 6:59 PM ET ticker ONL CIK 0001873923

debt confidence high sentiment positive materiality 0.75

Orion Properties extends $355M CMBS loan to Aug 2030, enters new $215M revolver

Orion Properties Inc.

$355M CMBS loan extended from Feb 2027 to Aug 2030 (incl. options); fixed rate 4.971% unchanged.
New $215M senior secured revolver replaces $350M facility; interest margin reduced 50bps to SOFR+2.75%.
Revolver matures Feb 2028 (two 6-month extensions); $113M drawn as of Feb 19, 2026.
All-purpose reserve of $37.7M funded; $2.05M partial prepayment; excess cash swept for principal/reserves.
Total liquidity ~$119.9M; management states near-term maturity risk eliminated.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001873923-26-000023
form_type: 8-K
ticker: ONL
cik: 0001873923
company_name: Orion Properties Inc.
filed_at: 2026-02-19T23:59:59+00:00
discovered_at: 2026-05-14T18:02:36.639148+00:00
generated_at: 2026-05-16T01:48:58.857599+00:00
sec_items: ["1.01", "1.02", "2.03", "7.01", "9.01"]
event_type: debt
sentiment: positive
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: high
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edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1873923/000187392326000023/onl-20260217.htm
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Source-grounded claims

185aa67eb0c72f01198d6d10a1a104ea4925ac2a

Orion Properties Inc. incurred revolving credit of $215.0 million with Wells Fargo Bank, National Association, as Administrative Agent at SOFR plus 2.75% or base rate plus 1.75% maturing February 18, 2028.

On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

19da5b276f2991d4489664ec016614dcd7a93791

Orion Properties Inc. amended loan of $355.0 million with Computershare Trust Company, National Association, as Trustee at fixed annual interest rate on the CMBS Loan of 4.971% maturing extended two years from February 11, 2027 until February 11, 2029.

Fargo Commercial Mortgage Trust 2022-ONL, Commercial Mortgage Pass-Through Certificates, Series 2022-ONL (the "Lender"). The Loan Modification Agreement relates to that certain $355.0 million fixed rate securitized mortgage loan dated February 10, 2022 (the “CMBS Loan”). The Loan Modification Agreement includes the following terms and conditions, among others: • The

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

a107217d2c066561f8107e84bdefb5fc91df57b9

Orion Properties Inc. entered into Credit Agreement for New Revolving Facility with Wells Fargo Bank, National Association, as Administrative Agent valued at $215.0 million senior secured revolving credit facility (effective 2026-02-18).

On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

SEC 8-K Item 1.01/1.02 confidence 0.95 SEC evidence

f0785a39bcd0cbcf68b11627cc8f5ce6a0f96f9f

Orion Properties Inc. entered into Loan Modification Agreement with Computershare Trust Company, National Association, as Trustee valued at $355.0 million fixed rate securitized mortgage loan (effective 2026-02-17).

On February 17, 2026, Orion Properties Inc. (the “Company”), through certain of its subsidiaries (the “Mortgage Borrowers”), entered into a loan extension and modification agreement (“Loan Modification Agreement”) with Computershare Trust Company, National Association, as Trustee, for the benefit of the holders of Wells Fargo Commercial Mortgage Trust 2022-ONL, Commercial Mortgage Pass-Through Certificates, Series 2022-ONL (the "Lender").

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

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same fact type: debt_financing, material_agreement same SEC item: 1.01, 2.03, 7.01, 9.01 same event type: debt similar materiality

This filing

On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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This filing

On February 18, 2026, the Company, as parent, and Orion Properties LP, as borrower (“Orion OP”), entered into a credit agreement for a new $215.0 million senior secured revolving credit facility (the “New Revolving Facility”), with the financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent.

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Source: SEC EDGAR

accession 0001873923-26-000023

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