Company: CLPR
Filing Date: 2025-05-08
Form Type: 8-K
Source: 0001437749-25-015484
Chunk: 4

Company: Clipper Realty Inc.
Filing Date: 2025-05-08
Form: 8-K
Chunk 4
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 with US Bank that caps the SOFR portion of the interest rate on the Loans at 6%.

On May 2, 2025, concurrently with entering into the Loan Agreements, the Company repaid its loans under: (i) the Credit Agreement by and among Dean Owner, as borrower, the lenders party thereto, and Valley National Bank, as Administrative Agent, dated as of August 10, 2023 (the “Credit Agreement”), and (ii) the Mezzanine Loan Agreement, dated as of August 10, 2023, by and among BADF 953 Dean Street Lender LLC, as Administrative Agent, the lenders party hereto, and Dean Member, as borrower (the “Mezzanine Agreement” and together with the Credit Agreement, “Prior Loan Agreements”). The Prior Loan Agreements provided for a $115.0 million senior loans under the Credit Agreement and $8.0 million note under the Mezzanine Agreement, which the Company used as construction loans related to its Dean Street Property. In connection with entering into the New Loan Agreements, the Prior Loan Agreements were terminated (pursuant to the terms therein), whereby the borrowers paid to the lenders approximately $126 million of principal and accrued interest outstanding under the Prior Loan Agreements.

The Company incurred no fees or costs as a result of the termination of the Prior Loan Agreements, and the Company incurred approximately $3.1 million in closing costs for the New Loan Agreements.

The foregoing description of the New Loan Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the New Loan Agreements, which will be filed as exhibits to the Quarterly Report on Form 10-Q for the quarter ending June 30, 2025 to be filed with the Securities and Exchange Commission.

#### Item

#### 1.02

#### Termination of a Material Definitive Agreement.
The information set forth under Item 1.01 above is incorporated into this Item 1.02 by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 above is incorporated into this Item 2.03 by reference.

### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized