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CITY OFFICE REIT, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

June 19, 2014



Item 1.01 Entry into a Material Definitive Agreement.

On April 21, 2014, City Office REIT, Inc. (the "Company"), through its operating partnership, City Office REIT Operating Partnership, L.P. (the "Operating Partnership"), as parent borrower, entered into a credit agreement (the "Credit Agreement") with KeyBank National Association ("KeyBank"), as administrative agent, the other lenders party thereto and KeyBanc Capital Markets, as sole lead arranger and sole book manager, providing for a secured revolving credit facility in an aggregate principal maximum amount of $15,000,000 (the "Secured Credit Facility"), consisting entirely of a $15,000,000 revolving credit loan secured by a property known as Central Fairwinds, located in Orlando, Florida, with a maturity date of April 21, 2016, subject to the Operating Partnership's right to a 12-month extension. At the time of execution, the Secured Credit Facility provided the Operating Partnership with the ability from time to time to increase the size of the Secured Credit Facility up to a total of $150,000,000 (the "Accordion Feature"). On June 13, 2014, in connection with the addition of a property known as Plaza 25, located in Greenwood Village, Colorado, as an additional collateral property, the Company, through the Operating Partnership, exercised a portion of the Accordion Feature of the Secured Credit Facility and entered into an amendment to the Credit Agreement (the "First Amendment to Credit Agreement"), thereby increasing the aggregate principal maximum amount available for borrowing under the Secured Credit Facility to $30,000,000.

Copies of the Credit Agreement and the First Amendment to Credit Agreement are included as Exhibits 10.1 and 10.2, respectively, hereto and are incorporated by reference herein. The foregoing descriptions of the Credit Agreement and the First Amendment to Credit Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the agreements.

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 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits: Exhibit Number Description 10.1 Credit Agreement, dated as of April 21, 2014, by and among City Office REIT Operating Partnership, L.P., KeyBank National Association and KeyBanc Capital Markets, as sole lead arranger and sole book manager 10.2 First Amendment to Credit Agreement, dated as of June 13, 2014, between and among City Office REIT Operating Partnership, L.P., KeyBank National Association and KeyBanc Capital Markets, as sole lead arranger and sole book manager



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Source: Edgar Glimpses


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