Company: CIO
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-023714
Chunk: 67

Company: City Office REIT, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 6
Chunk 67
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 is or will continue to be the case. Our ability to incur additional debt is dependent on a number of factors, including our degree of leverage, interest rates, the value of our unencumbered assets and borrowing restrictions that may be imposed by lenders. Our ability to access the equity capital markets is dependent on a number of factors as well, including general market conditions for REITs and market perceptions about us. In addition to the incurrence of debt and the offering of equity securities, dispositions of properties may serve as additional capital resources and sources of liquidity. We may recycle capital from stabilized assets or from sales of properties. Capital from these types of transactions is intended to be redeployed into property acquisitions, capital improvements, or to pay down existing debt.  

 46

 Consolidated Indebtedness as of December 31, 2024As of December 31, 2024, we had approximately $649.5 million of outstanding consolidated principal indebtedness, 82.3% of which is effectively fixed rate debt when factoring in interest rate swaps. The following table sets forth information as of December 31, 2024 with respect to our outstanding indebtedness (in thousands), including the impact of the effective interest rate swaps described in Note 7 of the consolidated financial statements:  

     Property

     December 31, 2024
      
     Interest Rate asof December 31, 2024 (1)

     Maturity

     Unsecured Credit Facility (2)(3)
      
     $
     255,000
      
     SOFR + 1.50%
     (1)(2)
      
     November 2025
     (2)

     Term Loan (3)

     25,000
      
     6.00%
     (3)
      
     January 2026

     Mission City

     45,095
      
     3.78%

     November 2027

     Canyon Park (4)

     38,159
      
     4.30%

     March 2027

     Circle Point

     38,109
      
     4.49%

     September 2028

     SanTan (5)

     30,773
      
     4.56%

     March 2027

     The Quad

     30,600
      
     4.20%

     September 2028

     Intellicenter