Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Debt, Net (Tables)

v3.22.4
Orion Office REIT, Debt, Net (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of December 31, 2022 and 2021, and the debt activity for the year ended December 31, 2022 (in thousands):
Year Ended December 31, 2022
Balance as of December 31, 2021
 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization
Balance as of December 31, 2022
Mortgages payable:
Outstanding balance $ —  $ 355,000  $ —  $ —  $ 355,000 
Deferred costs —  (3,446) —  613  (2,833)
Mortgages payable, net —  351,554  —  613  352,167 
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) (44) —  1,369  (1,185)
Credit facility term loan, net 172,490  (44) —  1,369  173,815 
Credit facility revolver:
Outstanding balance 90,000  70,000  (160,000) —  — 
Credit facility revolver 90,000  70,000  (160,000) —  — 
Total debt $ 616,847  $ 421,510  $ (514,558) $ 2,183  $ 525,982 
Schedule of Maturities of Long-term Debt
The following table summarizes the scheduled aggregate principal repayments due on the Company’s debt outstanding as of December 31, 2022 (in thousands):
Total
2023 $ 175,000 
2024 — 
2025 — 
2026 — 
2027 355,000 
Total $ 530,000 
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of December 31, 2022 (dollars 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  $ 465,098  $ 355,000  4.97  % 4.1
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.