Office Properties Income Trust Closes $69.2 Million of Mortgage Loans
- OPI secures additional financing for its portfolio
- Loan to value ratio and cap rate are favorable
- None.
Aggregate Mortgage Financing Proceeds in 2023 Exceed
The non-recourse loans announced today consist of the following:
-
mortgage with a$54.3 million 7.671% all-in fixed interest rate and a five-year interest-only term, secured by two properties, including a 139,000 square foot,100% occupied property located inWaco, Texas and a 344,000 square foot,100% occupied property located inDuluth, Georgia . -
mortgage with a$14.9 million 7.717% all-in fixed interest rate and a 10-year interest-only term, secured by a 110,000 square foot,100% occupied property located inJackson, Mississippi .
Loan proceeds have been used to pay down OPI’s revolving credit facility and fund its redevelopment projects in
Matthew Brown, OPI’s Chief Financial Officer and Treasurer, made the following statement:
“We have executed nearly
About Office Properties Income Trust
OPI is a national real estate investment trust focused on owning and leasing high quality office and mixed-use properties in select growth-oriented
Warning Concerning Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever OPI uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, it is making forward-looking statements. These forward-looking statements are based upon OPI’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by OPI’s forward-looking statements as a result of various factors. For example: Mr. Brown’s statements in this press release regarding the enthusiasm from the lending community to finance OPI’s high quality portfolio may imply that OPI will continue to pursue similar mortgage financings of its properties. However, OPI may not be able to obtain any such additional secured financings on the terms it expects or at all.
The information contained in OPI’s filings with the Securities and Exchange Commission, or the SEC, including under the caption “Risk Factors” in OPI’s periodic reports or incorporated therein, identifies important factors that could cause OPI’s actual results to differ materially from those stated or implied by OPI’s forward-looking statements. OPI’s filings with the SEC are available at the SEC’s website at www.sec.gov.
You should not place undue reliance upon forward-looking statements.
Except as required by law, OPI does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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Kevin Barry, Director, Investor Relations
(617) 219-1410
Source: Office Properties Income Trust