Recent Updates — OPI
On September 24, 2026, Office Properties Income Trust issued $425.0 million in aggregate principal amount of 8.75% senior secured notes due October 1, 2031. The notes are fully and unconditionally guaranteed by certain subsidiaries and secured by a first-priority lien on 19 office properties and the equity interests of the guarantors. Interest is payable semi-annually in arrears on April 1 and October 1, beginning April 1, 2027. The company used the net proceeds from this offering, combined with cash on hand, to repay all outstanding borrowings under its existing secured revolving credit facility and secured term loan, totaling $425.0 million in principal indebtedness. Consequently, the Second Amended and Restated Credit Agreement dated January 29, 2024, was terminated. Office Properties Income Trust is a real estate investment trust that owns and operates office properties.
Office Properties Income Trust priced $425 million in aggregate principal amount of 8.75% Senior Secured Notes due 2031 on September 10, 2026. The notes are guaranteed by certain subsidiaries and secured by first-priority liens on 19 office properties. Settlement is expected on September 24, 2026, subject to customary closing conditions. The company intends to use the net proceeds, along with cash on hand, to repay all outstanding borrowings under its secured revolving credit facility and secured term loan. Office Properties Income Trust operates as a national real estate investment trust focused on owning and leasing office properties.
Office Properties Income Trust emerged from Chapter 11 bankruptcy protection on June 17, 2026, following the implementation of its reorganization plan. The company issued $420 million in 10.0% senior secured notes due 2031 and $385 million in 8.375% senior secured notes due 2029. All previous common shares were cancelled and replaced with 21,953,577 shares of Reorganized Common Equity. The company also entered into new management agreements with The RMR Group LLC and amended its secured credit facility. Office Properties Income Trust is a real estate investment trust operating in the office properties sector.