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Office Properties Income Trust Announces $425 Million Amended and Restated Secured Credit Facilities

$325 Million Revolving Credit Facility and $100 Million Term Loan Replace Prior $750 Million Unsecured Revolving Facility

Office Properties Income Trust (Nasdaq: OPI) today announced that it has entered into a second amended and restated secured credit agreement that governs its new $325 million secured revolving credit facility and $100 million secured term loan, or the Facilities. The maturity date of the Facilities is January 29, 2027. OPI has a one-year extension option for the $325 million secured revolving credit facility, subject to the payment of an extension fee and satisfaction of certain other customary conditions. Interest paid on the Facilities is at a rate of SOFR plus a margin of 3.50%. The Facilities are secured by 19 office properties with a gross carrying value of $942 million. The Facilities replace OPI’s previous $750 million unsecured revolving credit facility that was scheduled to mature on January 31, 2024. OPI currently has $232 million outstanding on the Facilities and $193 million available for borrowing.

Wells Fargo Securities, LLC, BofA Securities, Inc. and Citibank, N.A. are the Joint Lead Arrangers and Joint Lead Bookrunners for the Facilities. Wells Fargo Bank, N.A. is the Administrative Agent. Bank of America, N.A. and Citibank, N.A. are the Syndication Agents. PNC Bank, National Association, Regions Bank, Mizuho Bank, Ltd., U.S. Bank, National Association, Sumitomo Mitsui Banking Corporation and Royal Bank of Canada are the Documentation Agents. Other participating banks in the Facilities include BMO Bank, N.A., Truist Bank, Associated Bank, National Association, Berkshire Bank, First Hawaiian Bank, First Horizon Bank, Morgan Stanley Senior Funding, Inc., UBS AG, Stamford Branch, Barclays Bank PLC and E.Sun Commercial Bank, Ltd.

About Office Properties Income Trust

OPI is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S. markets. As of September 30, 2023, approximately 64% of OPI's revenues were from investment grade rated tenants. OPI owned and leased 154 properties as of September 30, 2023, with approximately 20.7 million square feet located in 30 states and Washington, D.C. In 2023, OPI was named as an Energy Star® Partner of the Year for the sixth consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $36 billion in assets under management as of September 30, 2023, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. OPI is headquartered in Newton, MA. For more information, visit


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon OPI’s present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond OPI’s control. For example:

  • Continued availability of borrowings under the secured revolving credit facility is subject to OPI’s satisfying certain financial covenants and other credit facility conditions that it may be unable to satisfy,
  • OPI has the option to extend the maturity date of the secured revolving credit facility upon payment of an extension fee and meeting certain other conditions. However, the applicable conditions may not be met, and
  • Actual costs under the Facilities will be higher than the stated rates because of fees and expenses associated with such debt.

The information contained in OPI’s filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in OPI’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from OPI’s forward-looking statements. OPI’s filings with the SEC are available on the SEC’s website at

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.


Kevin Barry, Senior Director, Investor Relations

(617) 219-1410

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