Welcome to our dedicated page for Orion Properties SEC filings (Ticker: ONL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Orion Properties Inc. (NYSE: ONL) SEC filings page on Stock Titan provides access to the company’s official regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Orion is a Maryland-incorporated, internally managed REIT focused on single-tenant net lease office and dedicated use properties in high-quality suburban U.S. markets, and its filings offer detailed information on this business.
Through Orion’s annual reports on Form 10-K and quarterly reports on Form 10-Q, investors can review discussions of its office and dedicated use property portfolio, tenant base, lease structures, debt arrangements, liquidity and risk factors. These reports also explain how the company uses REIT-specific performance metrics such as Funds From Operations (FFO), Core FFO, Funds Available for Distribution (FAD), EBITDAre and Adjusted EBITDA, with reconciliations to GAAP measures.
Current reports on Form 8-K disclose material events, including quarterly earnings releases and supplemental information packages, updated investor presentations, and corporate actions such as the termination of an Equity Distribution Agreement. Filings also confirm Orion’s NYSE listing under the symbol ONL, its status as an emerging growth company, and details about its principal executive offices in Phoenix, Arizona.
On Stock Titan, these filings are updated in near real time from EDGAR, and AI-powered tools can help summarize lengthy documents such as 10-K and 10-Q reports, highlighting key items like portfolio metrics, leverage, and non-GAAP performance measures. Users can also review proxy materials and other filings referenced in Orion’s press releases for additional context on governance matters, director nominations and shareholder communications.
Orion Properties Inc. is an internally managed office REIT focused on single-tenant net lease properties in high-quality U.S. suburban markets. The company plans to shift over time from traditional office buildings toward dedicated-use assets such as government, medical, laboratory, R&D and flex facilities.
As of December 31, 2025, Orion owned 58 operating properties totaling 6.5 million leasable square feet across 26 states, with 78.1% occupancy and a weighted average remaining lease term of 5.6 years. Two tenants provided at least 10% of annualized base rent: the General Services Administration at 17.8% and Merrill Lynch at 10.0%, with significant geographic exposure to Texas, New Jersey and New York.
The company uses active asset management and capital recycling, selling non-core assets and reinvesting in its portfolio and selective acquisitions. As of December 31, 2025, consolidated debt totaled
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Orion Properties Inc. reported weaker 2025 results while actively reshaping its office-focused REIT portfolio and extending key debt maturities. Full-year revenues were $147.6 million versus $164.9 million in 2024, and net loss attributable to common stockholders widened to $(139.3) million, or $(2.48) per share, driven by significant real estate and joint venture impairments.
The company generated 2025 Core FFO of $43.7 million, or $0.78 per diluted share, down from $56.8 million, and Funds Available for Distribution turned negative at $(29.9) million, reflecting heavy capital expenditures and leasing costs. Orion completed 924,000 square feet of leasing, sold 10 properties for $80.7 million, and, after year-end, disposed of another $13.1 million of non-operating assets and acquired a fully leased dedicated use asset in Northbrook, Illinois for $15.0 million.
As of December 31, 2025, net debt was $467.9 million and Net Debt to Full Year Adjusted EBITDA was 6.79x. The company refinanced its credit facility and extended its $355.0 million CMBS loan to February 2029, but its Arch Street joint venture debt is in payment default and the related equity investment was written down to zero with a $5.9 million loan loss reserve. Orion’s operating portfolio had $111.3 million of Annualized Base Rent, 78.7% occupancy and a 5.7-year weighted average remaining lease term, with 66.7% of rent from investment-grade tenants. The board declared a $0.02 per share dividend for first quarter 2026 and issued 2026 Core FFO guidance of $0.69–$0.76 per diluted share while a strategic review of options, including a potential sale or continued standalone operation, remains ongoing.
Orion Properties Inc. executive Schmidt Revea Lynn reported a tax-related share disposition. On this Form 4, 4,782 shares of common stock were withheld at
Orion Properties Inc. General Counsel & Secretary Paul C. Hughes reported a tax-withholding disposition of company stock related to a vesting equity award. On the vesting of 15,106 restricted stock units, 6,903 shares of common stock were withheld at
Orion Properties Inc. executive Christopher Haviland Day reported a tax-withholding share disposition tied to a restricted stock unit vesting. On the event date, 6,375 shares of common stock were withheld at
After this non-open-market transaction, Day directly owned 180,024.587 shares of Orion Properties common stock.
Orion Properties Inc. officer Brandon Gavin reported a tax-related share disposition under a Form 4. On the tax-withholding transaction dated February 26, 2026, 8,055 shares of common stock were withheld at a price of $2.56 per share to cover obligations arising from 27,694 vested restricted stock units. After this transaction, Gavin directly owned 242,084 common shares.
Orion Properties Inc. director and officer Paul H. McDowell reported a tax-related share disposition. On February 26, he surrendered 23,245 shares of common stock at $2.56 per share to satisfy withholding obligations tied to restricted stock units that vested on that date.
The transaction reflects the withholding rate applied to 64,451 vested restricted stock units, using the New York Stock Exchange closing price. After this tax-withholding disposition, McDowell directly owned 569,779 Orion Properties common shares.
Orion Properties Inc. extended a $355.0 million fixed-rate CMBS loan and put in place a new $215.0 million senior secured revolving credit facility, significantly pushing out debt maturities while keeping its interest costs controlled.
The CMBS loan’s maturity moved from February 2027 to February 11, 2029, with options to extend to February 11, 2030 and then August 11, 2030, at an unchanged 4.971% fixed rate, alongside a $2.05 million principal prepayment and creation of an all-purpose reserve funded with $37.7 million of existing reserves plus an additional $7.74 million. The new $215.0 million revolver, secured by 28 properties, replaces a $350.0 million facility, matures in February 2028 with two six‑month extension options, lowers the margin to SOFR plus 2.75% or base rate plus 1.75%, and had $113.0 million drawn and $102.0 million of additional borrowing capacity, contributing to total liquidity of about $119.9 million.
Par Sanda and Sand Capital Associates, LLC filed Amendment No. 4 to a Schedule 13G reporting significant ownership in Orion Properties Inc. common stock. As of December 31, 2025, Par Sanda beneficially owns 3,380,546 shares, representing 6.0% of the class, including shares held by Sand Capital Associates, LLC.
Sand Capital Associates, LLC separately reports beneficial ownership of 2,795,533 shares, or 5.0% of the common stock. The ownership percentages are based on Orion Properties Inc.’s shares outstanding as disclosed in its Form 10-Q filed on November 6, 2025. The reporting persons certify the securities are not held to change or influence control of the issuer.
Orion Properties Inc. and Kawa Capital Management entered a cooperation agreement on January 26, 2026, under which the company will conduct a strategic review of options, including potential acquisitions, mergers, a possible sale, or continuing independently. Kawa reports beneficial ownership of 5,474,027 common shares, representing 9.7% of the outstanding common stock, largely with shared voting and dispositive power. The agreement includes standstill and non-disparagement provisions through September 1, 2026, requires Kawa to support the Board’s director nominees at the 2026 annual meeting, and gives Kawa the opportunity to participate in the strategic review on substantially the same terms as other participants. In connection with the agreement, Kawa’s fund withdrew its prior director nomination notice and related materials, and earlier nomination agreements with four individuals were terminated.