Quarterly report pursuant to Section 13 or 15(d)

Debt, Net (Tables)

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Debt, Net (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt The following table summarizes the carrying value of debt as of March 31, 2024 and December 31, 2023, and the debt activity for the three months ended March 31, 2024 (in thousands):
Three Months Ended March 31, 2024
Balance as of December 31, 2023
 Debt Issuances Repayments, Extinguishment and Assumptions Accretion and Amortization
Balance as of March 31, 2024
Mortgages payable:
Outstanding balance $ 355,000  $ —  $ —  $ —  $ 355,000 
Deferred costs (2,144) —  —  172  (1,972)
Mortgages payable, net 352,856  —  —  172  353,028 
Credit facility revolver 116,000  —  —  —  116,000 
Total debt $ 468,856  $ —  $ —  $ 172  $ 469,028 
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 March 31, 2024 (in thousands):
Total
April 1, 2024 to December 31, 2024
 $ — 
2025 — 
2026 (1)
116,000 
2027 355,000 
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.
Schedule of Mortgage Notes Payable
The Company’s mortgages payable consisted of the following as of March 31, 2024 (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  $ 425,544  $ 355,000  4.97  % 2.9
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(1)Net carrying value is real estate assets, including right-of-use assets, net of real estate liabilities.