Article
UPDATE 1: Office Properties Income Trust Enters Chapter 11 With RSA, $125M DIP Financing; Seeks To Equitize $1B Funded Debt
Thu Oct 30, 2025 09:09 PM ET: Office Properties Income Trust, a national real estate investment trust, or REIT, that owns and leases office properties, entered chapter 11 case with a restructuring support agreement, or RSA, with an ad hoc group of certain holders of its senior secured notes due September 2029, according to the company’s press release.
The release adds that the “transactions contemplated by the RSA provide the Company with a significantly improved capital structure and reduced debt service obligations, including by the equitization of approximately $1 billion of existing notes, and allow the Company to increase liquidity while maintaining its business operations in the normal course” (emphasis added). The RSA also contemplates a new management arrangement with The RMR Group for an initial term of five years. Throughout the restructuring process, RMR will continue to manage OPI’s business in the ordinary course and “expects no interruption or disruption” to OPI’s day-to-day operations.
In addition, the company states it has “received a commitment for $125 million in new money, debtor-in-possession (“DIP”) financing” from the ad hoc group.
Filings attached to the petition lists $3.5 billion total assets and $2.5 billion total debts.
The debtors are advised by Hunton Andrews Kurth and Latham & Watkins as bankruptcy co-counsel, Moelis & Company as investment banker and AlixPartners LLP as financial advisor. Kroll Restructuring is the claims and noticing agent.
The debtors are requesting the chapter 11 cases be jointly administered under the case of debtor Office Properties Income Trust (case no. 25-90530).
A rider attached to the petition lists the following affiliates as also filing for chapter 11 relief, available HERE.
The largest unsecured creditors disclosed in the petition include the following:
Original Story 8:49 p.m. UTC on Oct. 30, 2025
BREAKING: Office Properties Income Trust Files Chapter 11 in Southern District of Texas
Relevant Document:
Petition
Office Properties Income Trust has filed for chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas.
More to come. . .
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