Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Debt, Net - Credit Agreement (Details)

v3.24.0.1
Orion Office REIT, Debt, Net - Credit Agreement (Details)
 12 Months Ended
Jun. 29, 2023
USD ($)
qtr
Nov. 12, 2021
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Nov. 13, 2023
USD ($)
Dec. 01, 2022
USD ($)
Feb. 28, 2022
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Feb. 10, 2022
USD ($)
Debt Instrument [Line Items]                  
Debt instrument, term     2 years 10 months 24 days            
Repayments of term loans     $ 175,000,000 $ 0 $ 0        
Designated as Hedging Instrument                  
Debt Instrument [Line Items]                  
Derivative, notional amount     60,000,000 175,000,000          
Interest rate swaps                  
Debt Instrument [Line Items]                  
Derivative, notional amount       175,000,000     $ 175,000,000    
Interest rate swaps | Designated as Hedging Instrument                  
Debt Instrument [Line Items]                  
Derivative, notional amount       175,000,000          
Interest rate collar | Designated as Hedging Instrument                  
Debt Instrument [Line Items]                  
Derivative, notional amount     60,000,000     $ 60,000,000      
Interest Rate Collar on $25.0 Million | Designated as Hedging Instrument                  
Debt Instrument [Line Items]                  
Derivative, notional amount           $ 25,000,000      
Interest Rate Collar on $25.0 Million | Designated as Hedging Instrument | Minimum                  
Debt Instrument [Line Items]                  
Benchmark rate (percent)           5.50%      
Interest Rate Collar on $25.0 Million | Designated as Hedging Instrument | Maximum                  
Debt Instrument [Line Items]                  
Benchmark rate (percent)           4.20%      
Interest Rate Collar on $35.0 Million | Designated as Hedging Instrument                  
Debt Instrument [Line Items]                  
Derivative, notional amount           $ 35,000,000      
Interest Rate Collar on $35.0 Million | Designated as Hedging Instrument | Minimum                  
Debt Instrument [Line Items]                  
Benchmark rate (percent)           5.50%      
Interest Rate Collar on $35.0 Million | Designated as Hedging Instrument | Maximum                  
Debt Instrument [Line Items]                  
Benchmark rate (percent)           4.035%      
Mortgages payable | CMBS Loan                  
Debt Instrument [Line Items]                  
Debt instrument, face amount               $ 355,000,000 $ 355,000,000
Senior Loans | Credit facility term loan, net                  
Debt Instrument [Line Items]                  
Debt instrument, term   2 years              
Borrowing capacity   $ 175,000,000              
Repayments of term loans $ 175,000,000                
Optional term extension period 18 months                
Revolving Credit Facility                  
Debt Instrument [Line Items]                  
Debt instrument, face amount       175,000,000          
Credit facilities     $ 116,000,000 $ 0          
Effective interest rate (percent)     8.66% 3.92%          
Revolving Credit Facility | Line of Credit                  
Debt Instrument [Line Items]                  
Debt instrument, term   3 years              
Borrowing capacity   $ 425,000,000              
Credit facilities     $ 116,000,000            
Remaining borrowing capacity     309,000,000            
Commitment fee percentage 0.25%                
Unrestricted cash and cash equivalents $ 25,000,000                
Covenant, total debt to total asset value, maximum 0.60                
Covenant, adjusted EBITDA to fixed charges, minimum 1.50                
Covenant, secured debt to total asset value, maximum 0.40                
Covenant, unsecured debt to unencumbered asset value, maximum 0.60                
Covenant, unencumbered real properties to unsecured interest expense, minimum 2.00                
Covenant, unencumbered asset value, minimum $ 600,000,000                
Covenant, unsecured debt to total unencumbered assets, threshold 0.35                
Covenant measurement period - number of consecutive quarters | qtr 2                
Period within which to grant administrative agent a first priority lien on all property included in pool 90 days                
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate                  
Debt Instrument [Line Items]                  
Variable rate 0.10%                
Revolving Credit Facility | Line of Credit | Term Secured Overnight Financing Rate                  
Debt Instrument [Line Items]                  
Variable rate 3.25%                
Revolving Credit Facility | Line of Credit | Base Rate                  
Debt Instrument [Line Items]                  
Variable rate 2.25%                
Revolving Credit Facility | Letter of Credit                  
Debt Instrument [Line Items]                  
Borrowing capacity   $ 25,000,000              
Remaining borrowing capacity     $ 25,000,000            
Bridge Facility | Line of Credit                  
Debt Instrument [Line Items]                  
Debt instrument, term   6 months              
Borrowing capacity   $ 355,000,000