UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
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Item 1.01. | Entry into a Material Definitive Agreement |
The information set forth under Item 2.03, “Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant” is incorporated herein by reference.
Item 2.03. | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant |
On August 10, 2022, Piedmont Operating Partnership, LP (“Piedmont OP”), a consolidated subsidiary of Piedmont Office Realty Trust, Inc. (the “Registrant”), entered into a Loan Assignment and Assumption Agreement for a $197 million fixed rate loan secured by 1180 Peachtree Street in Midtown Atlanta (the “$197 Million Fixed Rate Loan”). The $197 Million Fixed Rate Loan has a remaining term of approximately 6 years and a final maturity date of October 1, 2028. Interest only at a fixed rate of 4.1% per annum is payable until October 1, 2023, at which point the loan becomes amortizing.
The foregoing does not purport to be a complete description of the terms of the $197 Million Fixed Rate Loan and is qualified in its entirety by reference to the Loan Assignment and Assumption Agreement and Omnibus Amendment to Note, Loan Agreement and Other Loan Documents and the $197 Million Fixed Rate Loan agreement, which are attached as Exhibit 10.1 and 10.2, respectively, hereto.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits:
Exhibit |
Description | |
10.1 | Loan Assignment and Assumption Agreement and Omnibus Amendment to Note, Loan Agreement and Other Loan Documents | |
10.2 | Loan Agreement dated as of September 10, 2018 by and between 1180 Peachtree Office Investors, LLC, as Borrower, and Metlife Real Estate Lending LLC, as Lender | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
Piedmont Office Realty Trust, Inc. | ||||||
(Registrant) | ||||||
Dated: August 16, 2022 | By: | /s/ Robert E. Bowers | ||||
Robert E. Bowers | ||||||
Chief Financial Officer and Executive Vice President |