Quarterly report pursuant to Section 13 or 15(d)

Orion Office REIT, Debt, Net (Tables)

v3.22.1
Orion Office REIT, Debt, Net (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of March 31, 2022 and December 31, 2021, and the debt activity for the three months ended March 31, 2022 (in thousands):
Three Months Ended March 31, 2022
Balance as of December 31, 2021 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization Balance, March 31, 2022
Mortgages payable:
Outstanding balance $ —  $ 355,000  $ —  $ —  $ 355,000 
Deferred costs —  (3,446) —  94  (3,352)
Mortgages payable, net —  351,554  —  94  351,648 
Bridge facility:
Outstanding balance
 355,000  —  (355,000) —  — 
Deferred costs (643) —  442  201  — 
Bridge facility, net 354,357  —  (354,558) 201  — 
Credit facility term loan:
Outstanding balance 175,000  —  —  —  175,000 
Deferred costs (2,510) (36) —  339  (2,207)
Credit facility term loan, net 172,490  (36) —  339  172,793 
Credit facility revolver:
Outstanding balance 90,000  70,000  (69,000) —  91,000 
Credit facility revolver, net 90,000  70,000  (69,000) —  91,000 
Total debt $ 616,847  $ 421,518  $ (423,558) $ 634  $ 615,441 
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of March 31, 2022 (dollar amounts in thousands):
Encumbered Properties
Net Carrying Value of Collateralized Properties (1)
Outstanding Balance Weighted-Average
Interest Rate		 Weighted-Average Years to Maturity
Fixed-rate debt 19  $ 489,157  $ 355,000  4.97  % 4.9
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.