Office Properties Income Trust filings document the regulatory record for a Maryland REIT with common shares of beneficial interest and 6.375% Senior Notes due 2050. Its Form 8-K reports cover operating results, earnings materials, distribution decisions, material agreements, capital-structure disclosures, and risk-factor references tied to its office-property leasing business.
The filing record also documents listing-status and corporate-status matters, including suspension of trading on The Nasdaq Global Select Market and OTC Pink quotations for the trust’s common shares and senior notes. Other material-event filings address restructuring-related governance, senior note interest-payment notices, credit-agreement notices, and board actions affecting liquidity and cash preservation.
Redwood Capital Management and affiliated entities reported beneficial ownership of 4,324,000 Common Shares of Office Properties Income Trust, representing 19.7% of the company’s outstanding stock as of June 17, 2026. These shares were received as part of OPI’s confirmed Chapter 11 reorganization plan.
The Redwood funds previously held OPI’s 9.00% senior secured notes due September 2029 and debtor-in-possession financing claims. On the plan’s effective date, they received a mix of $71,902,000 aggregate principal amount of 10.000% senior secured notes due 2031, an additional $10,912,000 of those notes, and the 4,324,000 shares.
New bylaws adopted on the effective date give Redwood Capital the right to designate up to two trustees while it and its affiliates own at least 10% of OPI’s shares, and one trustee while they own at least 5%. Redwood designated Jonathan Kolatch to the board and also received the right to appoint a non-voting board observer while it owns at least 15% of the outstanding shares.
OFFICE PROPERTIES INCOME TRUST director Irvin Schlussel filed an initial Form 3, which is a statement of beneficial ownership for insiders. The filing reports no transactions or derivative positions and shows no buy, sell, acquire, or dispose activity at this time.
OFFICE PROPERTIES INCOME TRUST director Adam D. Portnoy filed an initial Form 3 to report his indirect holdings in the company. The filing shows indirect ownership of 439,072 Common Shares of Beneficial Interest, held by The RMR Group LLC.
The RMR Group LLC is a majority-owned subsidiary of The RMR Group Inc., where Mr. Portnoy is a managing director and controlling shareholder through ABP Trust. The filing states that Mr. Portnoy, ABP Trust and The RMR Group Inc. may be deemed beneficial owners of these shares, but each disclaims beneficial ownership except to the extent of any pecuniary interest.
OFFICE PROPERTIES INCOME TRUST filed an initial insider ownership report (Form 3) for director William A. Lamkin. The filing shows no buy or sell activity, with net trading direction reported as neutral and no derivative positions listed. This is an administrative disclosure of insider status.
Office Properties Income Trust has emerged from Chapter 11 with a new capital structure, new board and rewritten governance documents. On June 17, 2026, its reorganization plan became effective, cancelling all 73,943,439 old common shares, which received no recovery, and issuing 21,953,577 shares of new common equity and new warrants.
The company issued $420 million of 10.000% senior secured exit notes due 2031 and $385 million of new 8.375% senior secured notes due 2029, amended its secured credit facility, and terminated its $125 million DIP facility through equity conversions. Certain former noteholders and DIP lenders now own about 67% of the reorganized equity, and a largely reconstituted board, including Helix Partners and Redwood Capital designees, took office. The declaration of trust and bylaws were amended to change removal rights, board designation rights and shareholder mechanics, while a new five-year management package with RMR includes fixed fees and equity-based compensation.
Office Properties Income Trust commenced voluntary Chapter 11 cases on October 30, 2025 and obtained court approval for a debtor‑in‑possession term loan facility of up to $125.0 million. An initial $10.0 million became available after the interim order and execution of the DIP credit agreement on November 6, 2025.
The DIP loans carry 12.00% annual cash interest and include an upfront fee of 2.25% of commitments, an anchor commitment fee of 10.00%, and an exit fee of 5.75%, each payable in cash or common equity of the reorganized debtors as specified. Maturity is the earliest of 185 days after the Petition Date, the plan’s effective date, a section 363 sale of substantially all assets, or acceleration after default. Proceeds may fund working capital, corporate needs, transaction costs, professional fees, and other case expenses under an approved budget, with superpriority claims and liens securing the facility.
Office Properties Income Trust commenced voluntary Chapter 11 cases in the Southern District of Texas to implement a court-supervised restructuring supported by an RSA with holders of its 9.000% Senior Secured Notes due September 2029 and The RMR Group LLC.
The RSA contemplates reducing total debt from approximately $2.4 billion to approximately $1.3 billion upon emergence and sets milestones for plan confirmation within 175 days of the petition date and plan effectiveness within 185 days. A first‑day hearing is noticed for November 3, 2025. OPI continues operating as debtor-in-possession and has sought customary first‑day relief.
The RSA term sheet provides for new management agreements with RMR, including a business management fee of $14.0 million per year for the first two years, with property management fees consistent with the current agreement. Filing the cases triggered events of default and accelerated obligations under certain debt instruments, though enforcement is stayed by the Bankruptcy Code. The company cautions that holders of its common shares could experience a significant or complete loss depending on case outcomes.
Office Properties Income Trust furnished “Cleansing Material” under Regulation FD, sharing information from confidential discussions with multiple creditor ad hoc groups about one or more potential transactions involving its funded debt obligations, including the 3.25% Senior Secured Notes due 2027 and 9.000% Senior Secured Notes due March and September 2029, as well as its secured credit facility and certain unsecured notes.
The company states no agreement has been reached with the 2027, March 2029, secured facility, or unsecured ad hoc groups, and it offers no assurance that terms will be agreed. The materials were provided solely to facilitate discussions and are furnished, not filed. This report is not an offer to sell or exchange any securities.
Separately, the company notes its common shares and 6.375% Senior Notes due 2050 were suspended from Nasdaq trading on October 7, 2025 and began quotation on the OTC Pink Market under symbols OPITS and OPILR.
Office Properties Income Trust reported it did not make the required interest payment of approximately $1.8 million due on its 3.450% Senior Notes due 2031 on October 15, 2025. Under the indenture, there is a 30-day grace period to cure the non-payment before it becomes an event of default.
The company also notified Wells Fargo, the administrative agent under its credit agreement, of the missed 2031 Notes payment. The credit agreement provides a 30-day grace period before this becomes an event of default under that agreement. The company stated it is working with advisors to pursue restructuring efforts.
Office Properties Income Trust reports that Nasdaq has notified the company its common shares are subject to delisting after failing to regain the required $1.00 minimum bid price by September 22, 2025. Unless appealed, the shares are expected to be delisted at the opening of business on October 6, 2025, and the company states it does not expect to appeal.
The company also discloses that on September 30, 2025 it did not make an approximately $27.4 million interest payment due on its 9.000% Senior Secured Notes due September 2029 and an approximately $3.4 million interest payment due on its 3.250% Senior Secured Notes due March 2027. Under the governing indentures and its credit agreement, there is a 30‑day grace period before these non-payments and the anticipated delisting can become events of default, while the company continues to work with advisors on restructuring efforts.