Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Debt, Net (Tables)

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Orion Office REIT, Debt, Net (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of December 31, 2023 and 2022, and the debt activity for the year ended December 31, 2023 (in thousands):
Year Ended December 31, 2023
Balance as of December 31, 2022
 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization
Balance as of December 31, 2023
Mortgages payable:
Outstanding balance $ 355,000  $ —  $ —  $ —  $ 355,000 
Deferred costs (2,833) —  —  689  (2,144)
Mortgages payable, net 352,167  —  —  689  352,856 
Credit facility term loan:
Outstanding balance 175,000  —  (175,000) —  — 
Deferred costs (1,185) —  504  681  — 
Credit facility term loan, net 173,815  —  (174,496) 681  — 
Credit facility revolver —  175,000  (59,000) —  116,000 
Total debt $ 525,982  $ 175,000  $ (233,496) $ 1,370  $ 468,856 
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, 2023 (in thousands):
Total
2024 $ — 
2025 — 
2026 (1)
116,000 
2027 355,000 
2028 — 
Total $ 471,000 
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(1)As described below, the Company’s Revolving Facility is scheduled to mature on November 12, 2024 and Orion OP has an option to extend the maturity date to May 12, 2026 if customary conditions are satisfied. This table assumes exercise of the extension option, however, as described below, the Company cannot provide any assurance it will be able to satisfy the extension conditions.
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of December 31, 2023 (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  $ 434,164  $ 355,000  4.97  % 3.1
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.