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Orion Properties Secures $215M Revolving Facility, Extends $355M CMBS Loan
Transactions Enhance Capital Structure and Eliminate Near-Term Maturity Risk
Feb. 24, 2026 at 3:31pm
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Orion Properties Inc. has entered into a new $215 million senior secured revolving credit facility and extended its existing $355 million commercial mortgage-backed securities (CMBS) loan. These transactions extend the company's debt maturity profile and maintain its healthy liquidity position.
Why it matters
The new revolving credit facility and CMBS loan extension provide Orion Properties with greater financial flexibility to execute on its business strategy. By addressing near-term maturities and reducing interest rate expenses, the company is better positioned to drive a more stable and growing earnings profile.
The details
The new $215 million revolving credit facility replaces Orion's existing $350 million revolver, reduces the interest rate margin by 50 basis points to SOFR plus 2.75%, and eliminates the 10-basis point SOFR adjustment. The company also amended its $355 million CMBS loan, extending the maturity date by three and a half years to August 2030 with a fixed interest rate of 4.971% remaining unchanged.
- The new $215 million revolving credit facility is scheduled to mature on February 18, 2029, inclusive of two six-month extension options.
- The $355 million CMBS loan amendment extends the maturity date by three and a half years to August 2030, inclusive of two additional extension options for a total of 18 months.
The players
Orion Properties Inc.
An internally-managed real estate investment trust engaged in the ownership, acquisition and management of a diversified portfolio of office properties.
Paul McDowell
Chief Executive Officer and President of Orion Properties Inc.
Wells Fargo Bank, National Association
The administrative agent for Orion Properties' new revolving credit facility.
What they’re saying
“Proactively addressing our near-term maturities has been a key priority and we appreciate our lenders' confidence in our business strategy. The successful execution of our new revolving credit facility and the extension of the CMBS loan materially enhances our capital structure and eliminates near-term maturity risk for Orion.”
— Paul McDowell, Chief Executive Officer and President
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
Orion Properties' new revolving credit facility and CMBS loan extension demonstrate the company's proactive approach to managing its debt maturities and maintaining a healthy financial position, which positions it well to continue executing on its business strategy.
