Equity cancelled as Office Properties Income Trust (OPINL) advances chapter 11 settlements
Office Properties Income Trust reports that court‑supervised mediations in its chapter 11 cases have produced two key settlements with noteholder groups and the unsecured creditors’ committee. A new $35 million equity rights offering, at a 15% discount to plan value and backstopped by certain unsecured noteholders, will help fund the reorganization.
Unsecured noteholders are slated to receive 6.3% of the reorganized common equity plus seven‑year warrants, while priority guaranteed unsecured notes are set for a 100% recovery in equity and September 2029 deficiency claims for 5.3% of equity if the DIP is equitized. Trade and vendor claims are expected to be paid in full in cash after the plan effective date.
A separate settlement for the 3.250% Senior Secured Notes due 2026 provides a $385,000,000 secured promissory note at 8.125% interest, with scheduled payments of $15,000,000 on or before August 1, 2026, another $15,000,000 by November 1, 2026, and $30,000,000 by February 1, 2027. The effective date of the plan is targeted on or before August 1, 2026.
The company warns that, under the plan, existing common shares will be cancelled and extinguished, with holders receiving no recovery, meaning invested amounts will not be recoverable. It urges extreme caution in trading its common shares during the chapter 11 process.
Positive
- Mediated creditor settlements largely align recoveries and support the plan. Unsecured noteholders, priority guaranteed notes, and the 2027 senior secured notes now have defined recoveries, reducing litigation risk and providing a clearer path to confirming the chapter 11 plan.
- Trade and vendor creditors are expected to be paid in full in cash. The plan term sheets contemplate full cash payment of trade and vendor claims as soon as reasonably practicable after the plan effective date, which can help stabilize operating relationships during and after restructuring.
Negative
- Existing common equity is slated for total loss. The plan provides that current common shares will be cancelled and extinguished on the effective date, with holders receiving no property or value, meaning invested equity capital will not be recoverable if the plan is confirmed.
- Substantial new secured debt burden through a large promissory note. The 2027 senior secured notes settlement introduces a $385,000,000 secured promissory note at 8.125% interest, implying significant ongoing debt service obligations for the reorganized entity after emergence.
Insights
Restructuring terms advance, but equity faces total wipeout under the plan.
Office Properties Income Trust outlines mediated settlements that largely fix recoveries across its capital structure. Unsecured noteholders receive 6.3% of reorganized equity plus seven‑year warrants, while priority guaranteed unsecured notes and trade and vendor claims are positioned for full recovery, mainly in equity or cash.
The 3.250% Senior Secured Notes due 2026 are reworked into a
For existing shareholders, the plan is highly adverse: common shares will be cancelled and extinguished on the effective date, with no recovery. The company explicitly cautions that amounts invested in current common shares will not be recoverable if the plan is confirmed, and urges extreme caution in trading while the chapter 11 process continues toward an effective date on or before
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
In this Current Report on Form 8-K (this “Current Report”), the terms the “Company,” “we,” “us,” and “our” refers to Office Properties Income Trust.
Item 7.01. Regulation FD Disclosure
As previously reported, on October 30, 2025, the Company and its debtor affiliates (collectively, the “Debtors”) each commenced with the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) a voluntary case (collectively, the “Chapter 11 Cases”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). The Chapter 11 Cases are jointly administered under the caption In re Office Properties Income Trust, et al., Case No. 25-90530.
The UCC Mediation and Settlement
Pursuant to the Agreed Mediation Order Regarding Mediation and Appointing Judge Marvin Isgur as Mediator (the “Mediator”) (Docket No. 569) (the “UCC Mediation Order”) entered by the Bankruptcy Court, in early January 2026 (a) the Debtors, (b) an ad hoc group (the “September 2029 Ad Hoc Group”) of holders of the Company’s 9.000% Senior Secured Notes due September 30, 2029, (c) an ad hoc group of holders of certain of the Company’s unsecured notes (the “Unsecured Notes Ad Hoc Group”), and (d) the Official Committee of Unsecured Creditors (the “Committee”, and together with the Debtors, the September 2029 Ad Hoc Group, and the Unsecured Notes Ad Hoc Group each, a “Party” and, collectively, the “UCC Mediation Parties”) commenced non-binding mediation to resolve certain disputes and issues in the Chapter 11 Cases. This disclosure contains all of the information that is required to be disclosed pursuant to paragraph 13 of the UCC Mediation Order.
The UCC Mediation Parties—including advisors and principals—participated in the mediation and worked closely with the Mediator and with each other to reach resolution of the issues. On or about February 24, 2026, negotiations concluded and a settlement was reached among the UCC Mediation Parties (the “UCC Settlement”). A copy of the term sheet (the “UCC Settlement Term Sheet”) including the remainder of the principal terms of the UCC Settlement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Terms used but not otherwise defined herein have the meanings ascribed to them in the Amended Joint Chapter 11 Plan of Reorganization of Office Properties Income Trust and its Debtor Affiliates [Docket No. 850] filed by the Debtors (as may be amended, modified, or supplemented from time to time, including to reflect the terms of the UCC Settlement Term Sheet and 2027 Settlement Term Sheet (as defined below), the “Plan”).
Certain of the key provisions of the UCC Settlement Term Sheet include:
| · | Equity Rights Offering: All of the Company’s Unsecured Noteholders will have the opportunity to participate in an equity rights offering in the aggregate amount of $35,000,000. Such equity rights offering will be backstopped by certain Unsecured Noteholders. | |
| · | Unsecured Noteholders Recovery: The Unsecured Noteholders’ recovery under the Plan will include 6.3% of Reorganized Common Equity and warrants, in each case subject to certain terms and conditions set forth in the UCC Settlement Term Sheet. | |
| · | Priority Guaranteed Unsecured Notes Recovery: Holders of the Priority Guaranteed Unsecured Notes will recover 100% of their claims in Reorganized Common Equity. | |
| · | September 2029 Unsecured Claim Recovery: Holders of the September 2029 Unsecured Claims will recover 5.3% of the Reorganized Common Equity in the event of the DIP Equitization. | |
| · | Trade and Vendor Claim Recovery: Holders of Trade and Vendor Claims will be paid in full in cash on or as soon as reasonably practicable after the Plan Effective Date. | |
| · | Committee Support: The Committee will recommend that all unsecured creditors vote in favor of the Plan and not opt out of the release provisions of the Plan. |
| · | Governance and Minority Protections: The UCC Mediation Parties will receive certain governance rights and minority protections, as set forth in the UCC Settlement Term Sheet. |
The foregoing description of the UCC Settlement does not purport to be complete and is qualified in its entirety by reference to the full text of the UCC Settlement Term Sheet and an amended chapter 11 plan incorporating such settlement.
The 2027 Ad Hoc Group Mediation and Settlement
Pursuant to the Stipulation and Agreed Order Regarding Mediation and Appointing Judge Marvin Isgur as Mediator (Docket No. 893) (the “2027 Mediation Order”) entered by the Bankruptcy Court on March 2, 2026 (a) the Debtors, (b) the September 2029 Ad Hoc Group, and (c) an ad hoc group (the “2027 Ad Hoc Group” and together with the Debtors and the September 2029 Ad Hoc Group, each a “2027 Settlement Party” and, collectively, the “2027 Settlement Parties”) of holders of certain of the Company’s 3.250% Senior Secured Notes due December 11, 2026 (the “2027 Senior Secured Notes”), commenced non-binding mediation to resolve certain disputes and issues in the Chapter 11 Cases. This disclosure contains all of the information that is required to be disclosed pursuant to paragraph 13 of the 2027 Mediation Order.
The Parties—including advisors and principals—participated in the mediation and worked closely with the Mediator and each other to reach resolution of the issues. On or about March 2, 2026, negotiations concluded and a settlement was reached among the Parties (the “2027 Settlement”). A copy of the term sheet (the “2027 Settlement Term Sheet”) including the remainder of the principal terms of the 2027 Settlement is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Certain of the key provisions of the 2027 Settlement Term Sheet include:
| · | Promissory Note: A $385,000,000 secured promissory note issued on the Effective Date (as defined in the Plan) that will bear interest at 8.125% (the “Promissory Note”) subject to the distribution and interest schedule and terms set forth below. The final maturity of the Promissory Note will be the date that is 42 months following the Effective Date and may be prepaid on the schedule outlined in the 2027 Settlement Term Sheet. | |
| · | Distributions: |
| o | On or before August 1, 2026, the Debtors will pay $15,000,000 to the holders of 2027 Senior Secured Notes (the “2027 Holders”). | |
| o | On or before November 1, 2026, the Debtors will pay an additional $15,000,000 to the 2027 Holders. | |
| o | On or before February 1, 2027, the Debtors will pay an additional $30,000,000 to the 2027 Holders. | |
| o | The deferred payments of $45,000,000 will bear interest at 8.125% and be secured by a mortgage and treated as mandatory amortization. | |
| o | The $60,000,000 of payments will be applied as a $10,000,000 support fee to the 2027 Ad Hoc Group and as a $50,000,000 principal payment. |
| · | Valuation: The Debtors will provide appraisals to the 2027 Settlement Parties, prepared by a nationally recognized appraisal firm, reflecting the fair market values of the properties securing the 2027 Senior Secured Notes on a first lien basis, excluding certain properties outlined in the 2027 Settlement Term Sheet. The appraisals shall be subject to the acceptance of the 2027 Ad Hoc Group and the fair market value of the appraisal shall not be less than $460,000,000. |
| · | Interest Rate: Prior to the earlier of (i) the Effective Date (as defined in the Plan) and (ii) August 1, 2026, interest will accrue on the 2027 Senior Secured Notes and be fully paid at the non-default interest rate. Thereafter, interest will accrue at 8.125%. | |
| · | Professional Fees: Reasonable and documented professional fees of the 2027 Ad Hoc Group will be reimbursed by the Debtors. | |
| · | Sale of Properties: The Debtors may sell one or more of the properties that are held as collateral by the 2027 Holders, with the lien on the sold properties being released at the closing of the sale and a portion of the proceeds being used to pay down the Promissory Note at par. The sale and proceeds of the properties are subject to certain terms and conditions outlined in the 2027 Settlement Term Sheet. |
The foregoing description of the 2027 Settlement does not purport to be complete and is qualified in its entirety by reference to the full text of the 2027 Settlement Term Sheet and an amended chapter 11 plan incorporating such settlement.
Monthly Operating Reports
On March 2, 2026, the Debtors filed their Monthly Operating Reports (the “MORs”) with the Bankruptcy Court. The MORs provide financial and operational information regarding the Company’s performance during the period of January 1, 2026 through January 31, 2026. The Debtors continue to operate their businesses and manage their properties as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.
OPI’s MOR is attached as Exhibit 99.3. Copies of the MORs and other filings with the Bankruptcy Court related to the Chapter 11 Cases are available for review and download, free of charge, on the website of the Debtors’ claims, noticing, and solicitation agent at https://restructuring.ra.kroll.com/OPI or through the Bankruptcy Court’s website, for a fee, at https://ecf.txsb.uscourts.gov. The information contained on, or that may be accessed through, the websites referenced in this Current Report on Form 8-K in each case is not incorporated by reference into, and is not a part of, this Current Report on Form 8-K.
Cautionary Statement Regarding the MORs
The Company cautions investors and potential investors not to place undue reliance upon the information contained in the MORs, which were not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The MORs are limited in scope, cover a limited time period, and have been prepared solely for the purpose of complying with the reporting requirements of the Bankruptcy Court. The MORs were not audited or reviewed by independent accountants, were not prepared in accordance with generally accepted accounting principles, are in a format prescribed by applicable bankruptcy rules and guidelines, and are subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the MORs are complete. The MORs also contain information for periods which are shorter or otherwise different from those required in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and such information might not be indicative of the Company’s financial condition or operating results for the periods that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results and projections set forth in the MORs should not be viewed as indicative of future results.
Cautionary Language Regarding Trading in the Company’s Common Shares
The Plan provides that the Company’s common shares of beneficial interest, $.01 par value per share (“common shares”), will be cancelled and extinguished on the effective date of the Plan, and the holders thereof will not be entitled to receive, and will not receive or retain, any property or interest in property on account of such common shares. If the Plan is confirmed and the Company’s common shares are cancelled, amounts invested by holders of such common shares will not be recoverable and such common shares will have no value. Trading prices for the Company’s common shares may bear little or no relationship to the actual recovery, if any, by holders of the Company’s common shares upon the conclusion of the Chapter 11 Cases. Accordingly, the Company urges extreme caution with respect to existing and future investments in its common shares.
Cautionary Note Concerning Forward Looking Statements
This Current Report on Form 8-K contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever we use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may,” and negatives or derivatives of these or similar expressions, we are making forward-looking statements. These forward-looking statements are based upon our present intent, beliefs, or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by our forward-looking statements as a result of various factors. These forward-looking statements include, among others, statements about the Plan, the process and potential outcomes of the Chapter 11 Cases, and the consummation of the transactions contemplated by the UCC Settlement Term Sheet and the 2027 Settlement Term Sheet. Forward-looking statements are based on the Company’s current expectations, assumptions, and estimates and are subject to risk, uncertainties, and other important factors that are difficult to predict and that could cause actual results to differ materially and adversely from those expressed or implied. These risks include, among others, those related to: the Company’s ability to confirm and consummate the Plan; the duration and outcome of the Chapter 11 Cases; the Company suffering from a long and protracted restructuring; the impact of the Chapter 11 Cases on the Company’s operations, reputation, and relationships with tenants, lenders, and vendors; the Company having insufficient liquidity; the availability of financing; the ability to satisfy the conditions precedent to the restructuring support agreement entered into in connection with the Chapter 11 Cases; the effectiveness of the overall restructuring activities pursuant to the Chapter 11 Cases and any additional strategies that the Company may employ to address its liquidity and capital resources and achieve its stated goals; the potential cancellation of the Company’s equity; and the Company’s historical financial information not being indicative of its future performance as a result of the Chapter 11 Cases.
The information contained in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings with the SEC, or incorporated herein or therein, identifies other important factors that could cause differences from our forward-looking statements. The Company’s filings with the SEC are available on the SEC’s website at www.sec.gov.
You should not place undue reliance upon the Company’s forward-looking statements.
Except as required by law, we do not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description of Exhibit | |
| 99.1 | UCC Settlement Term Sheet | |
| 99.2 | 2027 Settlement Term Sheet | |
| 99.3 | Office Properties Income Trust Monthly Operating Report for the period of January 1, 2026 through January 31, 2026. | |
| 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 report to be signed on its behalf by the undersigned hereunto duly authorized.
| OFFICE PROPERTIES INCOME TRUST | ||
| By: | /s/ Brian E. Donley | |
| Name: | Brian E. Donley | |
| Title: | Chief Financial Officer and Treasurer | |
Dated: March 4, 2026
Exhibit 99.1
In re Office Property Income Trust, et al. | Case No. 25-90530 (CML)
Official Committee of Unsecured Creditors Plan Settlement
This term sheet (the “Term Sheet”) describes the principal terms of a proposed settlement (the “Settlement”) by and among (i) the Debtors (ii) the Committee, (iii) September 2029 Ad Hoc Group and (iv) RMR, with regards to the Joint Chapter 11 Plan of Reorganization of Office Properties Income Trust and its Debtor Affiliates [Docket No. 575] (the “Plan”). Capitalized terms used but not defined in this Term Sheet have the meanings given to such terms in the Plan or the Restructuring Support Agreement.
This Term Sheet is neither an offer with respect to any securities nor a solicitation of acceptances of a chapter 11 plan within the meaning of Section 1125 of the Bankruptcy Code. Any such offer or solicitation will comply with all applicable securities laws and/or provisions of the Bankruptcy Code. Nothing contained in this term sheet shall be an admission of fact or liability. This Term Sheet does not address all terms that would be required in connection with the proposed restructuring transactions or that will be set forth in definitive documentation.
This Term Sheet contains a series of assumptions, compromises, and settlements of issues and disputes that will be resolved in connection with the confirmation of a chapter 11 plan. In the event the chapter 11 plan contemplated under this Term Sheet is not confirmed or does not become effective, nothing herein shall be construed as an admission of or the positions of the parties with respect to these issues or disputes. This term sheet and the information contained here are protected by Rule 408 of the Federal Rules of Evidence, to the greatest extent covered by the mediation privilege, and any other applicable statutes or doctrines prohibiting or restricting the use or disclosure of confidential settlement discussions and materials.
| Term | Description |
| Plan Enterprise Value | $1.75 billion (excluding value of 2027 Senior Secured Notes First Lien Collateral) |
| Implied Plan Equity Value | $428 million |
| DIP Facility Claims | Plan treatment of the DIP Facility Claims is agreed. |
| ERO A1 |
· Size: $35 million
· Discount to Plan Value: 15%
· Backstop Fee: 10% payable in equity to be paid to the Backstop Parties, which shall consist of the members of the Unsecured Noteholder Ad Hoc Group and Valueworks LLC and Diamond Family Investments LLC to be memorialized in a backstop commitment letter.
· Participants: All Unsecured Noteholders |
1 The distribution of Reorganized Common Equity pursuant to ERO A and the distributions to Unsecured Noteholders, the PGNs, and the September 2029 Deficiency Claim described herein remain subject to dilution by the MIP and adjustment based on the effective date of the Plan.
1
| Term | Description |
| ERO B | Eliminated |
| Unsecured Noteholders Recovery |
· 6.3% of Reorganized Common Equity (in the event of the DIP Equitization); and
· Warrants with the following terms:
· Strike Price: 125% of Plan Equity Value
· Duration: 7 years
· Equity Share: 5% of Reorganized Common Equity as of emergence
· Other Terms:
o Cash exercise
o No Black-Scholes protection
o American warrants
o Freely transferrable
o Subject to usual and customary protections |
| PGN Recovery | 100% recovery in Reorganized Common Equity |
| September 2029 Deficiency Claim Recovery | 5.3% of Reorganized Common Equity (in the event of the DIP Equitization) |
| OPI Trade and Vendor Claims at Parent & Subsidiaries | Payment in full in cash on or as soon as reasonably practicable after the Plan Effective Date. |
| Governance | · The board of directors, board of managers, board of trustees, or such similar governing body of reorganized Parent shall, as of the Plan Effective Date, be composed of (a) five (5) individuals appointed by the September 2029 Ad Hoc Group and (b) one (1) individual appointed by the Committee, with such individual being reasonably acceptable to the Company and the September 2029 Ad Hoc Group and (c) one (1) individual appointed by RMR. |
| Minority Shareholder Protections |
· Customary minority shareholder protections, including anti-dilution protections.
· Preemptive rights applicable to each holder of more than 1% of the outstanding Reorganized Common Equity with respect to additional equity issuances (including warrants, options or other securities convertible into equity).
· Preemptive rights applicable to each holder of more than 1% of the outstanding Reorganized Common Equity with respect to any debt financing transaction between OPI Parent and the members of the 2029 AHG Steering Committee on or prior to the one (1) year anniversary of the Plan Effective Date. |
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| Term | Description |
| Indenture Trustee Fees | Plan to provide payment in full in cash of all Unsecured Noteholder and PGN indenture trustee fees and expenses on the Plan Effective Date. |
| Committee Challenge |
Upon confirmation of the Plan, any and all challenges to the Debtors’ Stipulations and Releases set forth in the Final DIP Order shall be barred on a final and irrevocable basis; provided, following entry of the Disclosure Statement Motion Order, the UCC shall cease any investigation of any claims against the Prepetition Secured Parties, the Debtors, and RMR, and any related parties thereto; provided further, for the avoidance of doubt, the foregoing shall in no way limit the Committee’s right to participate in the 2027 Senior Secured Notes Claims Challenge.
The Challenge Period (as defined in the Final DIP Order) shall be extended to the Effective Date; provided in the event confirmation of the Plan is denied, the Challenge Deadline shall automatically be extended by two (2) weeks from the date of any order denying confirmation of the Plan. |
| Releases | The Committee agrees to support a plan that provides for full and final releases in the form set forth in the Plan with respect to all Released Parties, including RMR. |
| Definitive Documents |
The following Definitive Documents shall be in a form reasonably acceptable to the Committee: (i) the Plan (ii) the Disclosure Statement and the Solicitation Materials and exhibits related thereto; (iii) the order of the Bankruptcy Court approving such Disclosure Statement and Solicitation Procedures in connection thereto; (iv) the Confirmation Order; (v) the Equity Rights Offering Documents, including the Backstop Commitment Letter; (vi) the Reorganized Common Equity Documents; (vii) the New Governance Documents of OPI Parent to the extent to address minority shareholder rights; and (viii) any agreements governing the warrants (the “Warrant Agreement”).
The Committee shall have consultation rights with respect to the (i) Secured Exit Notes; (ii) the Amended RMR Management Agreements; and (iii) other agreements, instruments or documentation as may be needed to document and consummate the Plan. |
| Tax Matters | The parties shall cooperate in good faith to implement the Transactions in a tax-efficient manner for the parties. |
| Listing | The Debtors and the September 2029 Ad Hoc Group shall consult with the Committee with respect to whether OPI Parent will seek to have the Reorganized Common Equity traded on a nationally recognized stock exchange. |
| UCC Recommendation | The UCC will recommend that all unsecured creditors vote in favor of the Plan and not opt out of the release provisions of the Plan. |
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Exhibit 99.2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
| IN RE: | § | |
| § | CASE NO: 25-90530 | |
| OFFICE PROPERTIES INCOME | § | |
| TRUST, | § | |
| Debtors. | § | Jointly Administered |
| § | CHAPTER 11 |
MEDIATOR’S FEBRUARY 26, 2026 TERM SHEET
The Effective Date will be on or before August 1, 2026.
| 1. | On or before August 1, 2026, the Debtors will pay $15,000,000 to the 2027 holders. On or before November 1, 2026, the Debtors will pay an additional $15,000,000 to the 2027 holders. On or before February 1, 2027, the Debtors will pay an additional $30,000,000 to the 2027 holders. The deferred payments of $45,000,000 will bear interest at 8.125% and be secured by the mortgage and treated as mandatory amortization. The $60,000,000 of payments will be applied as a $10,000,000 support fee to the 2027 AHG and as a $50,000,000 principal payment. Not less than $50,000,000 of the $60,000,000 will be sourced from outside of the current 2027 First Lien Collateral. Up to $10,000,000 of the $60 million may be secured by a second lien on the 2027 collateral. |
| 2. | The Debtors will provide appraisals, prepared by a nationally recognized appraisal firm, reflecting the fair market values of the Collateral Package (as defined below). The appraisals will be reviewable by the 2027 holders, subject to their acceptance. If the values are not acceptable, then this Agreement will not be effective. |
| a. | The appraisals will be performed on a property-by-property basis. The Fair Market Values will be treated as the appraised value of the properties. |
| b. | The Minimum Value Requirement for the cumulative Fair Market Values is $460,000,000. |
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| c. | If the Minimum Value Requirement is not achieved, then additional properties must be pledged as required in paragraph 4(ii). |
| 3. | Following the receipt of the $50,000,000 principal payment, the 2027 holders will have a remaining claim of $335,000,000. The remaining claim will be paid pursuant to a secured promissory note issued on the effective date that will bear interest at 8.125%. |
| 4. | The collateral for the balance of the $335,000,000 note will be secured by a First Lien on (i) all of the First Lien Collateral held by the 2027 Holders, save and except the Irving, TX and Parsippany, NJ Properties; and (ii) such Additional property as required to meet the Minimum Value requirement set forth above. These constitute the “Collateral Package.” |
| 5. | Prior to the earlier of (i) the Effective Date; and (ii) August 1, 2026, interest will accrue and be fully paid at the non-default interest rate. Thereafter, interest will accrue at 8.125%. Reasonable and documented professional fees will be reimbursed by the Debtors. |
| 6. | The Debtor may sell one or more of the properties that are held as collateral by the 2027 Holders, with the lien on the sold properties being released at the closing of the sale. |
| a. | With respect to the first $150,000,000 of properties that are sold: |
| i. | The minimum sales price must produce net sales proceeds that equal or exceed 73% of the Appraised Value of the property to be sold. If not, the sale may only occur with the written consent of the 2027 Holders. |
| ii. | The net sales proceeds will be distributed: |
| 1. | First, to the 2027 Holders to the extent of 73% of the Appraised Value. |
| 2. | Second, the balance shall be paid to the Debtors. |
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| b. | With respect to the balance of any properties that are sold: |
| i. | The minimum sales price must produce net sales proceeds that equal or exceed 73% of the Appraised Value of the property to be sold. If not, the sale may only occur with the written consent of the 2027 Holders. |
| ii. | The net sales proceeds will be distributed: |
| 1. | First, to the 2027 Holders to the extent of 73% of the Appraised Value. |
| 2. | Second, the balance shall be paid 50% to the 2027 Holders and 50% to the Debtors. |
| 7. | Any funds received by the Debtors under the preceding paragraph must be retained by the Debtors and used solely for the payment of lawful expenses, repairs, or capital improvements on the Collateral Package or payments on the promissory note. None may be distributed to equity holders or in payment of debt to the equity holders. |
| 8. | All payments made under paragraph 6 to the 2027 Holders must be applied, at par, to the principal on the promissory note. |
| 9. | The final maturity date of the promissory note will be the date that is 42 months following the Effective Date of the Plan. |
| 10. | The final maturity date of debt issued to the 2029 holders will be not earlier than the date that is 60 months following the Effective Date of the Plan. |
| 11. | The promissory note may be prepaid on the following schedule. Mandatory payments under paragraph 6 will not be treated as a prepayment. |
| Months | Repayment Amount |
| Through July 31, 2027 | At par |
| August 1, 2027 through January 31, 2028 | At 103% of par |
| February 1, 2028 through July 31, 2028 | At 102% of par |
| August 1, 2028 through January 31, 2029 | At 101% of par |
| February 1, 2029 through January 31, 2030 | At par |
| 12. | The parties will exchange mutual releases and other customary documents. |
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| IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION Case Name: Office Properties Income Trust, et al. 1 Petition Date: October 30, 2025 Case Number: 25-90530 (CML) GLOBAL NOTES AND STATEMENTS OF LIMITATIONS, METHODOLOGY, AND DISCLAIMERS REGARDING DEBTORS’ MONTHLY OPERATING REPORT The accompanying Monthly Operating Report (the “MOR”) has been prepared by Office Properties Income Trust and its debtor affiliates, as debtors and debtors in possession (collectively, the “Debtors”) in the above-captioned chapter 11 cases (the “Chapter 11 Cases”). On October 30, 2025 (the “Petition Date”), the Debtors commenced these Chapter 11 Cases by filing voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) with the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). These Chapter 11 Cases have been consolidated for procedural purposes only and are being jointly administered under Case No. 25-90530 (CML). The Debtors are authorized to operate their business as debtors-in-possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. The following notes, statements, and limitations should be referred to, and referenced in connection with, any review of the MOR accompanying these global notes (the “Global Notes”). 1. General Methodology. The Debtors are filing this MOR solely for the purpose of complying with the monthly reporting requirements of the Office of the United States Trustee for Region 7 (the “U.S. Trustee”) and applicable bankruptcy reporting guidelines. The financial and supplemental information contained in these Global Notes is unaudited, limited in scope, and is not prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) nor in accordance with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder, nor is it intended to fully reconcile to the consolidated financial statements prepared by the Debtors. These Global Notes contain information that is applicable to each MOR filed in the Chapter 11 Cases contemporaneously herewith. Accordingly, the financial information presented in the MORs is subject to further review, adjustment, and reclassification as additional information becomes available. This MOR should not be relied upon for valuation, investment, or any other purpose other than compliance with the applicable reporting guidelines noted above. 2. Basis of Presentation. In preparing this MOR, the Debtors relied on financial data available from the books and records available to them at the time of such preparation, but 1 A complete list of the Debtors in the Chapter 11 Cases may be obtained on the website of the Debtors’ claims and noticing agent at https://restructuring.ra.kroll.com/OPI. The Debtors’ mailing address is Two Newton Place, 255 Washington Street, Suite 300, Newton, Massachusetts 02458-1634. |
| 2 this MOR and financial data do not reflect in all circumstances presentation for U.S. GAAP. Asset values reflected in this MOR are book values and not based upon any contemporaneous valuation. Although the Debtors made commercially reasonable efforts to ensure the accuracy and completeness of this MOR, inadvertent errors or omissions may exist. The results of operations contained herein are not necessarily indicative of results which may be expected from any other period or for the full year and may not necessarily reflect the results of operations, financial position and cash flows of the Debtors in the future. Each signatory to this MOR has necessarily relied upon the efforts, statements, advice and representations of personnel of the Debtors and the Debtors’ advisors and professionals. Each signatory has not (and could not have) personally verified the accuracy of each such statement, representation, and answer contained in this MOR. 3. Reporting Period. Unless otherwise noted herein, this MOR generally reflects the Debtors’ books and records and financial activity occurring during the applicable reporting period. Except as otherwise noted, no adjustments have been made for activity occurring after the close of the reporting period. For purposes of this MOR for the reporting period ended January 31, 2026, the Debtors have excluded cash receipts and disbursements processed from January 1, 2026 through January 2, 2026. The Debtors track and report cash activity on a week-end basis, and these two days were included in the previously filed MORs for the period ended December 31, 2025. Accordingly, all cash activity through the week ended January 2, 2026 has been excluded from this MOR to avoid duplicative reporting. 4. Accuracy. The financial information disclosed herein was not prepared in accordance with federal or state securities laws or other applicable non‐bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder. Persons and entities trading in or otherwise purchasing, selling, or transferring claims against or equity interests in the Debtors should evaluate this financial information in light of the purposes for which it was prepared. The Debtors are not liable for and undertake no responsibility to indicate variations from securities laws or for any evaluations of the Debtors based on this financial information or any other information. 5. Payment of Prepetition Claims Pursuant to First Day Orders. Pursuant to various "first day" orders and any supplements or amendments to such orders entered by the Bankruptcy Court (each, a “First Day Order,” and collectively, the “First Day Orders”), the Debtors and their estates are authorized or expect to be authorized to pay certain prepetition claims, including, without limitation: a. Essential Claims, as defined in the Final Order (I) Authorizing the Debtors to Pay Certain Prepetition Claims of (A) Health, Safety, and Environmental Providers, (B) Lien Claimants, and (C) 503(b)(9) Claimants; (II) Confirming Administrative Expense Priority of Outstanding Prepetition Orders; (III) Authorizing Financial Institutions to Honor and Process Related Checks and Transfers; and (IV) Granting Related Relief [Docket No. 440]; b. Tenant Obligations, as defined in the Order (I) Authorizing the Debtors to Pay Tenant Obligations and (II) Granting Related Relief [Docket No. 92]; |
| 3 c. Insurance Obligations, as defined in the Order (I) Authorizing Debtors to (A) Continue Insurance Programs, and (B) Pay All Obligations with Respect Thereto; and (II) Granting Related Relief [Docket No. 95]; d. Taxes and Fees, as defined in the Order (I) Authorizing Debtors to Pay Certain Prepetition Taxes and Fees; and (II) Granting Related Relief [Docket No. 96]; e. Adequate Assurance Deposits and Administrative Fees, as defined in the Order (I) Approving Debtors’ Proposed Form of Adequate Assurance of Payment to Utility Providers; (II) Establishing Procedures For Resolving Objections by Utility Providers; (III) Prohibiting Utility Providers From Altering, Refusing, or Discontinuing Service; and (IV) Granting Related Relief [Docket No. 97]; and f. Account Fees, as defined in the Final Order (I) Authorizing Debtors to (A) Continue Existing Cash Management System, (B) Maintain Existing Business Forms and Intercompany Arrangements, and (C) Continue Intercompany Transactions; and (II) Granting Related Relief [Docket No. 438] (the “Final Cash Management Order”). If any payments were made following the commencement of the Chapter 11 Cases pursuant to the authority granted to the Debtors by the Bankruptcy Court under the First Day Orders, such payments have been included in this MOR unless otherwise noted. 6. Liabilities Subject to Compromise. The amounts currently classified as liabilities subject to compromise reflect the accounting impact of ASC 852, Reorganizations, effective from the Petition Date. Following adoption of this accounting standard, certain prepetition liabilities have been reclassified and collated as a liability subject to compromise. The amounts currently classified as subject to compromise do not reflect the claimant value but reflects the best estimate as at the reporting date. When claims are received and reconciled, adjustments will be made prospectively. 7. Reservation of Rights. The Debtors hereby reserve all rights to dispute the validity, status, enforceability, or executory nature of any claim amount, representation, or other statement in the MORs. The Debtors reserve all rights to amend or supplement the MORs in all respects, as may be necessary or appropriate, but shall be under no obligation to do so. Nothing contained in the MORs shall constitute a waiver of any of the Debtors’ rights or an admission with respect to their Chapter 11 Cases. 8. Insiders and Affiliates. In the circumstances where the MORs require information regarding “insiders” or “affiliates,” the Debtors may include information with respect to the individuals and entities whom the Debtors believe may be argued to fall within the definition of “insider” set forth in section 101(31) of the Bankruptcy Code or “affiliate” set forth in section 101(2) of the Bankruptcy Code, as applicable, during the relevant time periods. The listing or omission of a party as an “insider” or “affiliate” for the purposes of the MOR is for informational purposes and is not intended to be nor should be construed as an admission that those parties are insiders or affiliates for purposes of section 101(31) or 101(2), as applicable, of the Bankruptcy Code. Information regarding the individuals or |
| 4 entities listed as insiders or affiliates in the MORs may not be used for: (a) the purposes of determining (i) control of the Debtors; (ii) the extent to which any individual or entity exercised management responsibilities or functions; (iii) corporate decision-making authority over the Debtors; or (iv) whether such individual or entity (or the Debtors) could successfully argue that they are not an insider or affiliate under applicable law, including the Bankruptcy Code and federal securities laws, or with respect to any theories of liability or (b) any other purpose. Furthermore, certain of the individuals or entities identified as insiders or affiliates may not have been insiders or affiliates for the entirety of the twelve-month period before the Petition Date, but the Debtors have included them herein out of an abundance of caution. The Debtors reserve all rights with respect thereto. For the avoidance of doubt, the Debtors do not employ any employees. 9. Specific MOR Disclosures. Notes to Part 1: Cash Receipts and Disbursements • The Debtors use a consolidated cash management system through which the Debtors pay substantially all liabilities and expenses. A more complete description of the Debtors’ Cash Management System is set forth in the Emergency Motion of Debtors for Entry of Interim and Final Orders (I) Authorizing Debtors to (A) Continue Existing Cash Management System, (B) Maintain Existing Business Forms and Intercompany Arrangements, and (C) Continue Intercompany Transactions; and (II) Granting Related Relief [Docket No. 21] (the “Cash Management Motion”) filed on October 31, 2025. • Receipts primarily consist of rental income collections, supplemented by cash inflows from asset sales and from proceeds from financing activity reflected on the MOR of Debtor Office Properties Income Trust. • The Debtors have endeavored to allocate receipts and disbursements to the appropriate legal entity based on the underlying transaction, even if the associated cash flow occurred through a different Debtor’s bank account. o Rent and other receipts are attributed to the appropriate Debtor entity receiving the rent and other receipts, regardless of the receiving bank account. o Similarly, disbursements are attributed to the invoiced entity, irrespective of the entity making the payment. • Receipts and disbursements processed through Sonesta-controlled bank accounts, as described in the Cash Management Motion, are included in the cash receipts and disbursements calculations. However, because these bank accounts are not controlled by Debtor 20 Mass Ave TRS Inc., the related ending cash balances are excluded to reconcile to the Debtor’s book ending cash balance. • Disbursements related to professional fees that are transferred into the professional fee reserve account are included in cash disbursements at the time the amounts are transferred to such account. Notwithstanding the foregoing, such amounts remain included in the ending cash balance until ultimately disbursed from the professional fee reserve account. • Receipts and disbursements from non-Debtor entities have been excluded, even if such transactions pass through Debtor bank accounts, as they are not attributable to the |
| 5 Debtors. However, receipts and disbursements related to the Non-Debtor Mortgages, as defined in the Declaration of John R. Castellano in Support of Chapter 11 Petitions and First Day Relief [Docket No. 26] (the “First Day Declaration”), are included in the Cash and Cash Equivalents of Office Properties Income Trust. • Based on guidance received from the Office of the United States Trustee, reported cash receipts and disbursements should exclude intercompany transactions. Therefore, for those Debtors with net intercompany cash outflows or inflows during the reporting period, the ending cash balances reported on Form 11 MOR Part 1 may not equal the ending cash balances per the Debtors’ bank statements or the Debtors’ books and records. Notes to Part 2: Asset and Liability Status • The amounts identified in Part 2 of this MOR are derived from the Debtors’ unaudited and estimated balance sheets. Please refer to the notes above for information regarding presentation and limitations that may exist in this MOR. • The funded secured and unsecured debt amounts identified in Part 2 of the MOR are derived from the Debtors’ unaudited and estimated balance sheets. Such amounts do not reflect the Debtors’ view as to the amount of any claim and the Debtors reserve all rights with respect to any asserted claim amounts. Accordingly, there may be differences between such amounts asserted in the MORs and any corresponding amounts stated in the Debtors’ statements of financial affairs and schedules of assets and liabilities. • While receipts and disbursements processed through Sonesta-controlled bank accounts are included in the cash activity for Debtor 20 Mass Ave TRS Inc., the balance sheet only includes the cumulative net income from the tenant hotel business once excess cash from the Sonesta-controlled bank accounts is transferred to Debtor 20 Mass Ave TRS Inc. as described in the Cash Management Motion pursuant to the Sonesta Management Agreement as defined in the First Day Declaration. • Amounts reported in “Liabilities Subject to Compromise” include intercompany balances. Intercompany balances have not been eliminated between Debtors for MOR reporting purposes. Notes to Part 4: Income Statement (Statement of Operations) • The income statement included in this MOR reflects month-to-date results. This clarification is provided for the avoidance of doubt. • While receipts and disbursements processed through Sonesta-controlled bank accounts are included in the cash activity for Debtor 20 Mass Ave TRS Inc., the income statement only includes the net gain/loss from the tenant hotel business once excess cash from the Sonesta-controlled bank accounts is transferred to Debtor 20 Mass Ave TRS Inc. as further described in the Cash Management Motion and the First Day Declaration. • Please refer to the notes above for information about presentation and limitations that may exist in the MOR. |
| 6 Notes to Part 5: Professional Fees • Debtor professional fees are recorded at the paying Debtor – Office Properties Income Trust - and are not further allocated to individual legal entities. Notes to Part 6: Postpetition Taxes • In the ordinary course of business, the Debtors are obligated to pay, among other taxes, sales and use, property, and income taxes, and various other governmental charges, fees, and assessments (collectively, the “Taxes and Fees”). • The Debtors believe that they are current with respect to any postpetition Taxes and Fees that have come due. Notes to Part 7: Questionnaire • 7a – Payments on Prepetition Debt: As further described above, all payments made by the Debtors during the period were authorized under First Day Orders granted by the Bankruptcy Court. • 7c – Payments to Insiders: The personnel and various services the Company requires to operate its business and properties are provided by The RMR Group LLC (“RMR”) pursuant to two agreements: a business management agreement (“RMR Management Agreement”) and a property management agreement (“RMR Property Management Agreement” and together, collectively, the “RMR Management Agreements”). As described in more detail in the First Day Declaration, the Debtors pay RMR for business management fees, property management fees, construction management fees, payroll reimbursement and accounts payable funding, regionwide expenses, and certain operating reimbursements. As discussed above, the Debtors reserve all rights with respect to the determination or status of RMR, and any other individual or entity listed herein, as an “insider” as defined in section 101(13) of the Bankruptcy Code or an affiliate as defined in section 101(2) of the Bankruptcy Code. To the extent RMR is listed in the Payments to Insiders attachment, such inclusion is for informational purposes only and is not intended to be nor should be construed as an admission that RMR is an Insider for purposes of section 101(31) or 101(2), as applicable, of the Bankruptcy Code. Additionally, as described in the First Day Declaration, the Debtors pay certain fees and reimbursements to Sonesta pursuant to the Sonesta Management Agreement. Accordingly, to the extent Sonesta is listed in the Payments to Insiders attachment, such inclusion is for informational purposes only and is not intended to be nor should be |
| 7 construed as an admission that Sonesta is an Insider for purposes of section 101(31) or 101(2), as applicable, of the Bankruptcy Code. • 7g – Postpetition Borrowing: On November 5, 2025, the Bankruptcy Court entered the Interim Order Pursuant to Sections 105, 361, 362, 363, and 364 of the Bankruptcy Code and Rules 2002, 4001, 6004, and 9014 of the Federal Rules of Bankruptcy Procedure (I) Authorizing the Debtors to Use Cash Collateral and Obtain Secured Postpetition Financing; (II) Granting Liens and Superpriority Administrative Claims; (III) Providing Adequate Protection; (IV) Scheduling a Final Hearing; and (V) Granting Related Relief [Docket No. 150] (the “Interim DIP Order”) authorizing the Debtors to enter into the DIP Documents (as defined in the Interim DIP Order) and obtain post-petition borrowing thereunder. On November 6, 2025, in accordance with the Interim DIP Order, the Debtors drew $10 million under the DIP Facility, net any fees payable to the DIP Agent and the DIP Lenders (each as defined in the Interim DIP Order). The Debtors received $9.7 million on November 6, 2025 into their Segregated Account (as defined in the Interim DIP Order). The Bankruptcy Court held the Final Hearing (as defined in the Final DIP Order) on January 28, 2026 and January 29, 2026, and on February 4, 2026, entered the Final Order Pursuant to Sections 105, 361, 362, 363, and 364 of the Bankruptcy Code and Rules 2002, 4001, 6004, and 9014 of the Federal Rules of Bankruptcy Procedure (I) Authorizing the Debtors to Use Cash Collateral and Obtain Secured Postpetition Financing; (II) Granting Liens and Superpriority Administrative Claims; (III) Providing Adequate Protection; and (IV) Granting Related Relief (the “Final DIP Order”). By February 6, 2026, in accordance with the Final DIP Order, the Debtors drew $75 million under the DIP Facility. The Debtors received $64.3 million on February 6, 2026 into their Segregated Account, net any fees payable to the DIP Agent and the DIP Lenders and the amount of the Tranche A2 Term Loan (as defined in the Final DIP Order). |
| UST Form 11-MOR (12/01/2021) 1 UNITED STATES BANKRUPTCY COURT Southern DISTRICT OF Texas Houston In Re. Office Properties Income Trust Debtor(s) § § § § Case No. 25-90530 Lead Case No. 25-90530 Jointly Administered Monthly Operating Report Chapter 11 Reporting Period Ended: 01/31/2026 Petition Date: 10/30/2025 Months Pending: 3 Industry Classification: 5 3 1 1 Reporting Method: Accrual Basis Cash Basis Debtor's Full-Time Employees (current): 0 Debtor's Full-Time Employees (as of date of order for relief): 0 Supporting Documentation (check all that are attached): (For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor) Statement of cash receipts and disbursements Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit Statement of operations (profit or loss statement) Accounts receivable aging Postpetition liabilities aging Statement of capital assets Schedule of payments to professionals Schedule of payments to insiders All bank statements and bank reconciliations for the reporting period Description of the assets sold or transferred and the terms of the sale or transfer Signature of Responsible Party Printed Name of Responsible Party Date Address /s/ Timothy A. (“Tad”) Davidson II 03/02/2026 Timothy A. (“Tad”) Davidson II 600 Travis Street, Suite 4200, Houston, TX 77002 STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. § 1320.4(a)(2) applies. |
| UST Form 11-MOR (12/01/2021) 2 Debtor's Name Office Properties Income Trust Case No. 25-90530 Part 1: Cash Receipts and Disbursements Current Month Cumulative a. Cash balance beginning of month $26,616,275 b. Total receipts (net of transfers between accounts) $20,078 $10,137,729 c. Total disbursements (net of transfers between accounts) $5,092,711 $12,881,572 d. Cash balance end of month (a+b-c) $21,543,642 e. Disbursements made by third party for the benefit of the estate $0 $0 f. Total disbursements for quarterly fee calculation (c+e) $5,092,711 $12,881,572 Part 2: Asset and Liability Status Current Month (Not generally applicable to Individual Debtors. See Instructions.) a. Accounts receivable (total net of allowance) $0 b. Accounts receivable over 90 days outstanding (net of allowance) $0 c. Inventory (Book Market Other (attach explanation)) $0 d Total current assets $29,939,414 e. Total assets $3,524,689,495 f. Postpetition payables (excluding taxes) $63,226,417 g. Postpetition payables past due (excluding taxes) $2,288 h. Postpetition taxes payable $212,834 i. Postpetition taxes past due $0 j. Total postpetition debt (f+h) $63,439,251 k. Prepetition secured debt $1,309,358,645 l. Prepetition priority debt $0 m. Prepetition unsecured debt $2,768,535,132 n. Total liabilities (debt) (j+k+l+m) $4,141,333,028 o. Ending equity/net worth (e-n) $-616,643,533 Part 3: Assets Sold or Transferred Current Month Cumulative a. Total cash sales price for assets sold/transferred outside the ordinary course of business $0 $0 b. Total payments to third parties incident to assets being sold/transferred outside the ordinary course of business $0 $0 c. Net cash proceeds from assets sold/transferred outside the ordinary course of business (a-b) $0 $0 Part 4: Income Statement (Statement of Operations) Current Month Cumulative (Not generally applicable to Individual Debtors. See Instructions.) a. Gross income/sales (net of returns and allowances) $0 b. Cost of goods sold (inclusive of depreciation, if applicable) $0 c. Gross profit (a-b) $0 d. Selling expenses $0 e. General and administrative expenses $169,112 f. Other expenses $0 g. Depreciation and/or amortization (not included in 4b) $0 h. Interest $51,334 i. Taxes (local, state, and federal) $0 j. Reorganization items $8,237,547 k. Profit (loss) $-8,457,993 $-41,001,794 |
| UST Form 11-MOR (12/01/2021) 3 Debtor's Name Office Properties Income Trust Case No. 25-90530 Part 5: Professional Fees and Expenses Approved Current Month Approved Cumulative Paid Current Month Paid Cumulative a. Debtor's professional fees & expenses (bankruptcy) Aggregate Total $2,157,840 $4,770,456 $2,157,840 $4,770,456 Itemized Breakdown by Firm Firm Name Role i Latham & Watkins LLP Lead Counsel $0 $2,612,616 $0 $2,612,616 ii Hunton Andrews Kurth LLP Local Counsel $274,794 $274,794 $274,794 $274,794 iii AP Services, LLC Financial Professional $1,662,421 $1,662,421 $1,662,421 $1,662,421 iv Quinn Emanuel Urquhart & Su Special Counsel $220,625 $220,625 $220,625 $220,625 v vi vii viii ix x xi xii xiii xiv xv xvi xvii xviii xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi |
| UST Form 11-MOR (12/01/2021) 4 Debtor's Name Office Properties Income Trust Case No. 25-90530 xxxvii xxxvii xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxviii |
| UST Form 11-MOR (12/01/2021) 5 Debtor's Name Office Properties Income Trust Case No. 25-90530 lxxix lxxx lxxxi lxxxii lxxxiii lxxxiv lxxxv lxxxvi lxxxvi lxxxvi lxxxix xc xci xcii xciii xciv xcv xcvi xcvii xcviii xcix c ci Approved Current Month Approved Cumulative Paid Current Month Paid Cumulative b. Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total $7,313 $7,313 $7,313 $7,313 Itemized Breakdown by Firm Firm Name Role i Ryan, LLC Other $803 $803 $803 $803 ii Cox, Castle & Nicholson LLP Special Counsel $6,510 $6,510 $6,510 $6,510 iii iv v vi vii viii ix x xi xii xiii xiv |
| UST Form 11-MOR (12/01/2021) 6 Debtor's Name Office Properties Income Trust Case No. 25-90530 xv xvi xvii xviii xix xx xxi xxii xxiii xxiv xxv xxvi xxvii xxviii xxix xxx xxxi xxxii xxxiii xxxiv xxxv xxxvi xxxvii xxxvii xxxix xl xli xlii xliii xliv xlv xlvi xlvii xlviii xlix l li lii liii liv lv lvi |
| UST Form 11-MOR (12/01/2021) 7 Debtor's Name Office Properties Income Trust Case No. 25-90530 lvii lviii lix lx lxi lxii lxiii lxiv lxv lxvi lxvii lxviii lxix lxx lxxi lxxii lxxiii lxxiv lxxv lxxvi lxxvii lxxviii lxxix lxxx lxxxi lxxxii lxxxiii lxxxiv lxxxv lxxxvi lxxxvi lxxxvi lxxxix xc xci xcii xciii xciv xcv xcvi xcvii xcviii |
| UST Form 11-MOR (12/01/2021) 8 Debtor's Name Office Properties Income Trust Case No. 25-90530 xcix c c. All professional fees and expenses (debtor & committees) $2,165,153 $4,777,769 $2,165,153 $4,777,769 Part 6: Postpetition Taxes Current Month Cumulative a. Postpetition income taxes accrued (local, state, and federal) $0 $0 b. Postpetition income taxes paid (local, state, and federal) $0 $0 c. Postpetition employer payroll taxes accrued $0 $0 d. Postpetition employer payroll taxes paid $0 $0 e. Postpetition property taxes paid $0 $0 f. Postpetition other taxes accrued (local, state, and federal) $0 $0 g. Postpetition other taxes paid (local, state, and federal) $0 $0 Part 7: Questionnaire - During this reporting period: a. Were any payments made on prepetition debt? (if yes, see Instructions) Yes No b. Were any payments made outside the ordinary course of business Yes No without court approval? (if yes, see Instructions) c. Were any payments made to or on behalf of insiders? Yes No d. Are you current on postpetition tax return filings? Yes No e. Are you current on postpetition estimated tax payments? Yes No f. Were all trust fund taxes remitted on a current basis? Yes No g. Was there any postpetition borrowing, other than trade credit? Yes No (if yes, see Instructions) h. Were all payments made to or on behalf of professionals approved by the court? Yes No N/A i. Do you have: Worker's compensation insurance? Yes No If yes, are your premiums current? Yes No N/A (if no, see Instructions) Casualty/property insurance? Yes No If yes, are your premiums current? Yes No N/A (if no, see Instructions) General liability insurance? Yes No If yes, are your premiums current? Yes No N/A (if no, see Instructions) j. Has a plan of reorganization been filed with the court? Yes No k. Has a disclosure statement been filed with the court? Yes No l. Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. § 1930? Yes No |
| UST Form 11-MOR (12/01/2021) 9 Debtor's Name Office Properties Income Trust Case No. 25-90530 Part 8: Individual Chapter 11 Debtors (Only) a. Gross income (receipts) from salary and wages $0 b. Gross income (receipts) from self-employment $0 c. Gross income from all other sources $0 d. Total income in the reporting period (a+b+c) $0 e. Payroll deductions $0 f. Self-employment related expenses $0 g. Living expenses $0 h. All other expenses $0 i. Total expenses in the reporting period (e+f+g+h) $0 j. Difference between total income and total expenses (d-i) $0 k. List the total amount of all postpetition debts that are past due $0 l. Are you required to pay any Domestic Support Obligations as defined by 11 U.S.C § 101(14A)? Yes No m. If yes, have you made all Domestic Support Obligation payments? Yes No N/A Privacy Act Statement 28 U.S.C. § 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. §§ 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progress through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or foreign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee's systems of records notice, UST-001, "Bankruptcy Case Files and Associated Records." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http://www.justice.gov/ust/ eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F). I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate. /s/ John R. Castellano Signature of Responsible Party Chief Restructuring Officer Printed Name of Responsible Party 03/02/2026 Title Date John R. Castellano |
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| UST Form 11-MOR (12/01/2021) 11 Debtor's Name Office Properties Income Trust Case No. 25-90530 Bankruptcy51to100 NonBankruptcy1to50 NonBankruptcy51to100 Bankruptcy1to50 |
| UST Form 11-MOR (12/01/2021) 12 Debtor's Name Office Properties Income Trust Case No. 25-90530 PageFour PageThree |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Office Properties Income Trust Government Properties Income Trust LLC 112 Ave Miami LLC 20 Mass Ave TRS Inc. 3400 Plano TX LLC 440 First Street LLC ACP East LLC Bayside Pkwy Fremont 2 LLC Burt Street Omaha LLC Clay Holdco LLC Case No. 25-90530 Case No. 25-90536 Case No. 25-90551 Case No. 25-90565 Case No. 25-90555 Case No. 25-90570 Case No. 25-90573 Case No. 25-90532 Case No. 25-90556 Case No. 25-90576 Rent and Other Receipts 20,078 377,290 826,091 2,904,019 136,693 637,886 13,725 117,523 - - Operating Disbursements Payroll & Benefits - - - - - - - - - - Property and Other Taxes - - - - - - 5,445 - - - Property Management Fees (4,209) - - - - - - - - - Business Management Fee - - - - - - - - - - Insurance (3,964) (6,514) (4,598) - (14) (2,213) (751) (2,085) (902) - Utilities - (47,424) (19,726) - - (109,615) (813) - - - Maintenance & Other Expenses - (63,419) (20,899) - (424) (49,574) (4,745) (1,551) (16,016) - Corporate G&A 2,870 (4,201) (394) - (434) (1,216) (120) (202) (250) - Total Operating Disbursements (5,303) (121,559) (45,617) - (873) (162,618) (984) (3,839) (17,167) - Total Capex - - - - - (16,092) - - - - Total Hotel Disbursements - - - (1,713,937) - - - - - - Net Cash Flow From Operations 14,775 255,730 780,474 1,190,082 135,820 459,176 12,741 113,685 (17,167) - Non-Operating Disbursements Debt Service - - - - - - - - - - Professional Fees (5,085,418) - - - - - - - - - Utility Deposits - - - - - - - - - - First Day Motions - Taxes (1,990) - - - - - - - - - First Day Motions - Vendors - (7,906) (3,950) - - - (245) - - - First Day Motions - Return of Tenant Deposits - (88,712) - - - - - - - - Total Non-Operating Disbursements (5,087,408) (96,618) (3,950) - - - (245) - - - Asset Sales - - - - - - - - - - Net Cash Flow (5,072,633) 159,112 776,524 1,190,082 135,820 459,176 12,496 113,685 (17,167) - DIP Proceeds - - - - - - - - - - Net Cash Flow After Financing (5,072,633) 159,112 776,524 1,190,082 135,820 459,176 12,496 113,685 (17,167) - Beg. Cash Balance 26,616,275 12,728,918 - 798,909 - 1,987,734 - - - - (+/-) Net Cash Flow After Financing (5,072,633) 159,112 776,524 1,190,082 135,820 459,176 12,496 113,685 (17,167) - MOR Part 1 d. Cash Balance $ 21,543,642 $ 12,888,030 $ 776,524 $ 1,988,991 $ 135,820 $ 2,446,910 $ 12,496 $ 113,685 $ (17,167) $ - (+/-) Net Cash Flow from/to CMBS (529,113) - - - - - - - - - (+/-) Sonesta Controlled Accounts Net Activity - - - (1,035,255) - - - - - - (+/-) Professional Fee Reserve Net Activity 7,947,866 - - - - - - - - - (+/-) Utility Disbursement Reserve Net Activity 549,382 - - - - - - - - - (+/-) Intercompany Transactions, net and Cash In Transit 427,637 (3,950,504) (776,524) - (135,820) (2,202) (12,496) (113,685) 17,167 - Cash Balance End of Period, Book $ 29,939,414 $ 8,937,526 $ - $ 953,736 $ - $ 2,444,708 $ - $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 Clay Road Houston LLC CRI SIR LLC Elliott Ave Seattle LLC Ewing Holdco LLC First Potomac DC Holdings, LLC FP 11 Dupont Circle, LLC FP 1211 Connecticut Avenue, LLC FP 1401 K, LLC FP 1775 Wiehle Avenue, LLC FP 540 Gaither, LLC Case No. 25-90557 Case No. 25-90578 Case No. 25-90558 Case No. 25-90581 Case No. 25-90584 Case No. 25-90534 Case No. 25-90590 Case No. 25-90540 Case No. 25-90593 Case No. 25-90537 204,725 - 585,942 - - 419,743 81,511 280,270 88,411 200,540 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (14) - (5,783) - - (2,491) (2,082) (1,930) (1,654) (1,991) - - (58,251) - - (107,626) (77,089) (52,217) (33,069) (83,160) (20,613) - (85,050) - - (57,548) (31,170) (41,666) (35,131) (27,567) (429) - (3,928) - - (1,428) (904) (1,101) (552) (514) (21,056) - (153,012) - - (169,093) (111,244) (96,914) (70,406) (113,232) - - - - - - - (476) - (25,690) - - - - - - - - - - 183,669 - 432,930 - - 250,650 (29,733) 182,880 18,005 61,618 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (8,946) - - (5,601) (5,365) (5,759) - (3,929) - - - - - - (1,356) - - - - - (8,946) - - (5,601) (6,721) (5,759) - (3,929) - - - - - - - - - - 183,669 - 423,984 - - 245,049 (36,454) 177,121 18,005 57,689 - - - - - - - - - - 183,669 - 423,984 - - 245,049 (36,454) 177,121 18,005 57,689 - - - - - - - - - - 183,669 - 423,984 - - 245,049 (36,454) 177,121 18,005 57,689 $ 183,669 $ - $ 423,984 $ - $ - $ 245,049 $ (36,454) $ 177,121 $ 18,005 $ 57,689 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (183,669) - (423,984) - - (245,049) 36,454 (177,121) (18,005) (57,689) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 FP 6310 Hillside Center, LLC FP 6315 Hillside Center, LLC FP 840 First Street, LLC FP Atlantic Corporate Park, LLC FP Patuxent Parkway, LLC FP Redland Technology Center LLC FP Sterling Park Land, LLC GOV Lake Fairfax Inc. GOV Lakewood Properties Trust GOV NEW OPPTY LP Case No. 25-90594 Case No. 25-90543 Case No. 25-90587 Case No. 25-90531 Case No. 25-90546 Case No. 25-90533 Case No. 25-90596 Case No. 25-90599 Case No. 25-90560 Case No. 25-90564 32,529 7,747 192,522 188,904 97,957 675,524 - - - - - - - - (382) - - - - - - - - - 661 - - (237) - - - - - - - - - - - - - - - - - - - - - - (649) (638) (3,961) (2,809) (2,060) (5,193) (1) (3,497) (3,740) - (32,367) (8,269) (149,544) (46,731) (41,918) (121,181) - (1,712) (5,355) - (7,658) (7,837) (25,874) (60,648) (26,644) (33,517) (11) (4,610) (5,852) - (73) (78) (1,922) (706) (424) (1,404) (16) (1,042) (391) - (40,747) (16,822) (181,301) (110,894) (70,766) (161,295) (28) (11,097) (15,339) - - - - (52,009) - (29,855) - (24,231) - - - - - - - - - - - - (8,219) (9,076) 11,222 26,001 27,191 484,373 (28) (35,328) (15,339) - - - - - - - - - - - - - - - - - - - - - - - - (2,635) - - - - - - - - - - - - - - - - - - - - (17) (2,066) - (27,553) - - - - - - - - - - - - - - - (2,635) (17) (2,066) - (27,553) - - - - - - - - - - - - (8,219) (9,076) 11,222 23,366 27,173 482,307 (28) (62,880) (15,339) - - - - - - - - - - - (8,219) (9,076) 11,222 23,366 27,173 482,307 (28) (62,880) (15,339) - - - - - - - - - - - (8,219) (9,076) 11,222 23,366 27,173 482,307 (28) (62,880) (15,339) - $ (8,219) $ (9,076) $ 11,222 $ 23,366 $ 27,173 $ 482,307 $ (28) $ (62,880) $ (15,339) $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 8,219 9,076 (11,222) (23,366) (27,173) (482,307) 28 62,880 15,339 - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 GOV NEW OPPTY LP REIT GOV NEW OPPTY REIT GPT Properties LLC GPT Properties Trust Grand Oak Circle Tampa LLC Jan Davis Huntsville LLC OPI 25 Exchange LLC OPI AL Properties LLC OPI BND Holdings Trust OPI BND Properties LLC Case No. 25-90562 Case No. 25-90567 Case No. 25-90538 Case No. 25-90541 Case No. 25-90544 Case No. 25-90552 Case No. 25-90547 Case No. 25-90569 Case No. 25-90572 Case No. 25-90574 - - 16,400 1,771,735 106,598 - 410,689 - - 2,073,382 - - - (12,585) - - - - - (25,111) - - (35,684) (298,849) - - (169,108) - - (146,441) - - - - - - - - - - - - - - - - - - - - - - (470) (22,328) (2,525) (4) (5,594) (1,392) - (32,334) - - (1,075) (161,961) (346) - (121,439) (31,014) - (178,539) - - (2,607) (122,325) (7,525) (265) (82,106) (12,690) - (381,974) - - (153) (2,354) (201) (132) (1,327) (373) - (6,036) - - (39,988) (620,403) (10,597) (402) (379,574) (45,469) - (770,435) - - - (37,798) (45,025) - - - - (51,657) - - - - - - - - - - - - (23,588) 1,113,533 50,977 (402) 31,115 (45,469) - 1,251,290 - - - - - - - - - - - - - - - - (1,680,407) - - (1,078,707) - - - - - - - - - - - - - - - - - - - (396,249) - - (1,517) (5,530) (6,992) - (245) (1,234) - (8,543) - - - - - - - - - - - - (1,517) (5,530) (6,992) - (1,680,652) (1,234) - (1,483,499) - - - - - - - - - - - - (25,105) 1,108,004 43,985 (402) (1,649,537) (46,703) - (232,209) - - - - - - - - - - - - (25,105) 1,108,004 43,985 (402) (1,649,537) (46,703) - (232,209) - - - - - - 164,130 - - 2,870,370 - - (25,105) 1,108,004 43,985 (402) (1,649,537) (46,703) - (232,209) $ - $ - $ (25,105) $ 1,108,004 $ 43,985 $ (402) $ (1,485,407) $ (46,703) $ - $ 2,638,160 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 25,105 (1,108,004) (43,985) 402 1,485,878 46,703 - 3,344,426 $ - $ - $ - $ - $ - $ - $ 472 $ - $ - $ 5,982,587 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 OPI Notex Holdings Trust OPI Notex Properties LLC OPI TRS Inc. OPI WF Borrower LLC OPI WF Holding LLC OPI WF Owner LLC Primerica Holdco LLC Santa Clara (Walsh) LLC SC Merger Sub LLC Schrock Road Columbus LLC Case No. 25-90554 Case No. 25-90550 Case No. 25-90529 Case No. 25-90577 Case No. 25-90580 Case No. 25-90583 Case No. 25-90586 Case No. 25-90589 Case No. 25-90591 Case No. 25-90553 - 2,529,475 - - - 7,566,346 - 228,803 - 41,286 - - - - - (192,961) - - - - - (610,169) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (42,135) - - - (53,055) - (1,024) - (333) - (448,237) - - - (598,389) - - - - - (290,797) (15,481) - - (683,789) - (3,486) - (73) - (220,850) - - - (15,549) - (391) - (91) - (1,612,189) (15,481) - - (1,543,744) - (4,901) - (496) - (664,643) - - - (265,451) - - - - - - - - - - - - - - - 252,643 (15,481) - - 5,757,151 - 223,902 - 40,790 - - - - - - - - - - - (2,362,243) - - - (1,433,932) - - - - - - - - - (4,877) - - - - - (1,525,674) - - - - - - - - - (1,786,160) - - - (627,904) - - - - - (22,747) - - - - - - - - - (5,696,824) - - - (2,066,713) - - - - - - - - - - - - - - - (5,444,181) (15,481) - - 3,690,438 - 223,902 - 40,790 - - - - - - - - - - - (5,444,181) (15,481) - - 3,690,438 - 223,902 - 40,790 - 926,563 - - - 11,055,341 - - - - - (5,444,181) (15,481) - - 3,690,438 - 223,902 - 40,790 $ - $ (4,517,618) $ (15,481) $ - $ - $ 14,745,779 $ - $ 223,902 $ - $ 40,790 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5,236,755 15,481 - - (2,518,726) - (223,902) - (40,790) $ - $ 719,138 $ - $ - $ - $ 12,227,053 $ - $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Campbell Place Inc. SIR Centennial LLC SIR Colorado Springs LLC SIR Fort Mill LLC SIR GP Redwood City LLC SIR Holdings Corporation SIR Irving (Freeport) LLC SIR Johnston LLC SIR Omaha LLC SIR Operating Partnership LP Case No. 25-90535 Case No. 25-90595 Case No. 25-90598 Case No. 25-90559 Case No. 25-90561 Case No. 25-90563 Case No. 25-90539 Case No. 25-90566 Case No. 25-90568 Case No. 25-90571 102,236 54,386 9,084 193,539 - - - 280,255 - - - - - - - - - - - - - - - - - - (223,611) - - - - - - - - - - - - - - - - - - - - - - - (9) (3,771) - (1,353) - - (5,378) (19) (952) - (1,128) (35,744) - - - - (85,265) - (15,610) - (7,831) (53,941) - (8,343) - - (6,542) (391) (40,609) - (275) (564) - (137) - - (1,321) (572) (620) - (9,243) (94,021) - (9,833) - - (322,117) (982) (57,791) - - (3,930) - - - - - - (100,386) - - - - - - - - - - - 92,993 (43,565) 9,084 183,706 - - (322,117) 279,273 (158,177) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (663,541) - - - (6,051) (82) - (3,430) - - (1,638) - (963) - - - - - - - - - - - (6,051) (82) - (3,430) - - (665,179) - (963) - - - - - - - - - - - 86,942 (43,647) 9,084 180,276 - - (987,297) 279,273 (159,140) - - - - - - - - - - - 86,942 (43,647) 9,084 180,276 - - (987,297) 279,273 (159,140) - - - 15,742,974 - - - - - - - 86,942 (43,647) 9,084 180,276 - - (987,297) 279,273 (159,140) - $ 86,942 $ (43,647) $ 15,752,058 $ 180,276 $ - $ - $ (987,297) $ 279,273 $ (159,140) $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (86,942) 43,647 1,033,979 (180,276) - - 987,297 (279,273) 159,140 - $ - $ - $ 16,786,036 $ - $ - $ - $ - $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Parsippany (Jefferson) LLC SIR Philadelphia LLC SIR Properties REIT LLC SIR Properties Trust SIR Redwood City LP SIR REIT New Braunfels LLC SIR REIT Plano LLC SIR Rocklin (Office) LLC SIR San Jose LLC SIR Santa Clara LP Case No. 25-90542 Case No. 25-90549 Case No. 25-90575 Case No. 25-90579 Case No. 25-90582 Case No. 25-90545 Case No. 25-90585 Case No. 25-90588 Case No. 25-90548 Case No. 25-90592 - - 1,559,869 271,372 - - 336,401 - 330,425 - - - - - - - - - - - (76,951) - (23,255) (78,511) - (53,653) (83,178) - - - - - - - - - - - - - - - - - - - - - - - (10,821) (44,479) (11,936) (2,413) (964) (540) (1,625) - (1,510) - (8,729) (12,312) (109,237) (15,466) (15,316) (1,260) - - (1,583) - (21,831) (13,766) (30,876) (14,655) (11,913) (6,524) (91,379) - (1,944) - (518) (1,173) (1,305) (860) (520) (230) (368) - (515) - (118,850) (71,728) (176,610) (111,905) (28,713) (62,207) (176,550) - (5,552) - - - (17,648) - - - (288,515) - - - - - - - - - - - - - (118,850) (71,728) 1,365,611 159,467 (28,713) (62,207) (128,664) - 324,872 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (232,973) - (159,209) (246,823) - - - - (3,148) (188,160) (641) - - (15,005) - - - - - - - - - - - - - - (3,148) (188,160) (233,615) - (159,209) (261,827) - - - - - - - - - - - - - (118,850) (74,876) 1,177,451 (74,148) (28,713) (221,415) (390,491) - 324,872 - - - - - - - - - - - (118,850) (74,876) 1,177,451 (74,148) (28,713) (221,415) (390,491) - 324,872 - - - - - - - - - - - (118,850) (74,876) 1,177,451 (74,148) (28,713) (221,415) (390,491) - 324,872 - $ (118,850) $ (74,876) $ 1,177,451 $ (74,148) $ (28,713) $ (221,415) $ (390,491) $ - $ 324,872 $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 118,850 74,876 (1,177,451) 74,148 28,713 221,415 390,491 - (324,872) - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 1 Cash Receipts and Disbursements by Legal Entity For the period 1/1/2026 through 1/31/2026 (See Global Notes for Additional Details) Rent and Other Receipts Operating Disbursements Payroll & Benefits Property and Other Taxes Property Management Fees Business Management Fee Insurance Utilities Maintenance & Other Expenses Corporate G&A Total Operating Disbursements Total Capex Total Hotel Disbursements Net Cash Flow From Operations Non-Operating Disbursements Debt Service Professional Fees Utility Deposits First Day Motions - Taxes First Day Motions - Vendors First Day Motions - Return of Tenant Deposits Total Non-Operating Disbursements Asset Sales Net Cash Flow DIP Proceeds Net Cash Flow After Financing Beg. Cash Balance (+/-) Net Cash Flow After Financing MOR Part 1 d. Cash Balance (+/-) Net Cash Flow from/to CMBS (+/-) Sonesta Controlled Accounts Net Activity (+/-) Professional Fee Reserve Net Activity (+/-) Utility Disbursement Reserve Net Activity (+/-) Intercompany Transactions, net and Cash In Transit Cash Balance End of Period, Book Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Westford LLC Twelve24 Atlanta LLC West Java Sunnyvale LLC Case No. 25-90597 Case No. 25-90600 Case No. 25-90601 - 1,504,216 385,009 - - - - - - - - - - - - - (10,618) (3,352) - (6,669) (39) - (64,354) (12,218) - (2,479) (406) - (84,120) (16,014) - - - - - - - 1,420,096 368,995 - - - - - - - - - - - - - (13,428) - - - - - (13,428) - - - - - 1,406,668 368,995 - - - - 1,406,668 368,995 - - - - 1,406,668 368,995 $ - $ 1,406,668 $ 368,995 - - - - - - - - - - - - - (1,406,668) (368,995) $ - $ - $ - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Office Properties Income Trust Government Properties Income Trust LLC 112 Ave Miami LLC 20 Mass Ave TRS Inc. 3400 Plano TX LLC 440 First Street LLC ACP East LLC Bayside Pkwy Fremont 2 LLC Burt Street Omaha LLC Clay Holdco LLC Case No. 25-90530 Case No. 25-90536 Case No. 25-90551 Case No. 25-90565 Case No. 25-90555 Case No. 25-90570 Case No. 25-90573 Case No. 25-90532 Case No. 25-90556 Case No. 25-90576 Cash and cash equivalents 7,284,653 8,910,462 - 953,736 - - - - - - Restricted cash 22,654,761 27,064 - - - 2,444,708 - - - - Rents receivable - 295,244 1,059,411 150,467 279,371 3,775,570 139,270 2,466,328 1,916,510 - Total Current Assets 29,939,414 9,232,770 1,059,411 1,104,203 279,371 6,220,278 139,270 2,466,328 1,916,510 - Land - 14,589,447 4,798,130 - 4,543,015 27,903,162 2,477,233 10,783,527 2,819,172 - Buildings and improvements - 293,504,693 5,170,147 - 16,285,485 42,213,762 5,037,689 2,125,461 10,897,668 - Accumulated depreciation - (84,686,225) (1,375,828) - (3,241,495) (8,947,540) (1,433,030) (325,347) (1,675,198) - Real estate properties (net) - 223,407,915 8,592,449 - 17,587,004 61,169,383 6,081,892 12,583,640 12,041,642 - Due from related parties 8,879,024 609,010,776 11,120,487 181,198 8,568,858 27,576,864 180,493 7,986,544 292,569 - Deferred leasing costs (net) - - - - 921,359 3,870,537 115,462 2,353,039 1,344,852 - Acquired real estate leases - net - - 159,308 - 1,884,209 2,594,708 - 1,169,814 - - Other assets (net) 3,485,871,057 (139,221,649) (16,763,029) 548,000 (25,291,512) (88,424,138) (8,141,458) (16,207,323) 6,494 - Total Assets 3,524,689,495 702,429,812 4,168,627 1,833,401 3,949,288 13,007,632 (1,624,341) 10,352,042 15,602,068 - Accounts payable and other liabilities 53,214,250 657,042 108,014 4,017,161 2,251 3,317,494 54,287 889,826 373,389 - Due to related parties - 4,016,809 - - - 174,012 - - - - Assumed real estate lease obligations (net) - - - - 971,660 - - - - - Secured debt (net) 291,590,645 - - - - - - - - - Liabilities subject to compromise 3,796,528,132 257,574 4,671 - 165 145,267 860 3,981 13,391,133 - Total Liabilities 4,141,333,027 4,931,425 112,685 4,017,161 974,076 3,636,773 55,148 893,808 13,764,522 - Common shares of beneficial interest 739,411 - - - - - - - - - Additional paid in capital 2,658,470,886 - - - - - - - - - Cumulative net income (1,805,938,032) 697,398,387 4,055,942 (2,183,760) 2,975,212 9,370,859 (1,679,489) 9,458,234 1,837,546 - Cumulative common distributions (1,469,915,797) 100,000 - - - - - - - - Total Shareholders' Equity (616,643,532) 697,498,387 4,055,942 (2,183,760) 2,975,212 9,370,859 (1,679,489) 9,458,234 1,837,546 - Total Liabilities and Shareholders' Equity 3,524,689,495 702,429,812 4,168,627 1,833,401 3,949,288 13,007,632 (1,624,341) 10,352,042 15,602,068 - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 Clay Road Houston LLC CRI SIR LLC Elliott Ave Seattle LLC Ewing Holdco LLC First Potomac DC Holdings, LLC FP 11 Dupont Circle, LLC FP 1211 Connecticut Avenue, LLC FP 1401 K, LLC FP 1775 Wiehle Avenue, LLC FP 540 Gaither, LLC Case No. 25-90557 Case No. 25-90578 Case No. 25-90558 Case No. 25-90581 Case No. 25-90584 Case No. 25-90534 Case No. 25-90590 Case No. 25-90540 Case No. 25-90593 Case No. 25-90537 - - - - - - - - - - - - - - - - - - - - 676,988 - 4,140,081 - - 6,292,707 1,882,253 2,575,485 752,088 (6,965) 676,988 - 4,140,081 - - 6,292,707 1,882,253 2,575,485 752,088 (6,965) 5,494,791 - 26,639,923 - - 28,254,691 30,387,895 29,215,662 4,137,884 10,740,463 12,686,047 - 204,925,914 - - 69,259,317 28,254,580 43,179,605 32,144,579 20,788,668 (3,215,517) - (26,876,770) - - (19,411,874) (7,646,296) (13,079,476) (8,201,725) (4,796,004) 14,965,321 - 204,689,067 - - 78,102,134 50,996,180 59,315,791 28,080,737 26,733,127 11,602,640 - 1,100,915 - - 1,013,940 - 566,997 6,681,120 4,078,007 262,073 - 1,663,878 - - 3,128,171 725,661 824,657 225,315 427,281 - - - - - 826,163 513,870 894,004 658,876 289,415 (20,951,639) - (27,635,558) - - (19,152,733) (37,374,519) (40,739,662) (36,326,397) (30,766,782) 6,555,383 - 183,958,383 - - 70,210,382 16,743,445 23,437,273 71,739 754,084 207,144 - 372,693 - - 1,158,429 682,260 781,612 183,893 271,039 - - - - - - 43,545 - - 35,482 - - - - - - - 472 - - - - - - - - - - - - 38 - 207,153,321 - 5,734,868 79,749,347 25,426,711 35,774,691 2,210 35,167 207,182 - 207,526,014 - 5,734,868 80,907,776 26,152,516 36,556,775 186,104 341,689 - - - - - - - - - - - - - - - - - - - - 6,348,200 - (23,567,631) - (5,734,868) (10,697,393) (9,409,071) (13,119,502) (114,365) 412,396 - - - - - - - - - - 6,348,200 - (23,567,631) - (5,734,868) (10,697,393) (9,409,071) (13,119,502) (114,365) 412,396 6,555,383 - 183,958,383 - - 70,210,382 16,743,445 23,437,273 71,739 754,084 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 FP 6310 Hillside Center, LLC FP 6315 Hillside Center, LLC FP 840 First Street, LLC FP Atlantic Corporate Park, LLC FP Patuxent Parkway, LLC FP Redland Technology Center LLC FP Sterling Park Land, LLC GOV Lake Fairfax Inc. GOV Lakewood Properties Trust GOV NEW OPPTY LP Case No. 25-90594 Case No. 25-90543 Case No. 25-90587 Case No. 25-90531 Case No. 25-90546 Case No. 25-90533 Case No. 25-90596 Case No. 25-90599 Case No. 25-90560 Case No. 25-90564 - - - - - - - - - - - - - - - - - - - - 463,774 30,298 1,759,372 1,528,340 573,103 4,619,182 - 2,593 (13,184) - 463,774 30,298 1,759,372 1,528,340 573,103 4,619,182 - 2,593 (13,184) - 1,423,645 2,012,902 42,726,334 5,750,957 3,125,956 12,714,223 1,267,184 5,033,407 584,662 - 2,533,910 2,674,630 76,172,621 34,037,609 21,527,438 69,944,891 - 56,851,043 3,620,425 - (756,664) (790,795) (16,791,221) (7,749,462) (5,039,151) (15,311,754) - (16,930,989) (202,768) - 3,200,891 3,896,738 102,107,735 32,039,104 19,614,242 67,347,360 1,267,184 44,953,461 4,002,319 - 4,308,800 2,576,658 8,976,670 20,455,913 5,028,015 38,904,196 - - 26,371,503 7,888,530 28,048 12,129 753,596 1,355,913 356,299 4,287,929 - - - - 652,526 - - - 218,845 750,889 - - - - (5,135,689) (5,410,014) (111,212,156) (49,149,652) (26,261,463) (97,725,605) 4,752 (75,605,745) (18,766,221) (7,752,402) 3,518,350 1,105,808 2,385,218 6,229,618 (470,957) 18,183,952 1,271,937 (30,649,691) 11,594,417 136,128 24,189 14,182 328,884 341,406 337,108 2,441,889 1,327 62,096 137,226 (8,884) - 9,562 6,037 - - - 820 316,624 109,129 - 226,836 - - - - - - - - - - - - - - - - - - - 5,236 3,076 180,110 51,762 23,735 9,273 1,504,525 41,214,298 416,533 - 256,262 26,820 515,031 393,168 360,843 2,451,163 1,506,672 41,593,017 662,887 (8,884) - - - - - - - - - - - - - - - - - - - - 3,262,088 1,078,988 1,870,187 5,836,450 (831,800) 15,732,789 (234,735) (72,242,709) 10,931,529 145,012 - - - - - - - - - - 3,262,088 1,078,988 1,870,187 5,836,450 (831,800) 15,732,789 (234,735) (72,242,709) 10,931,529 145,012 3,518,350 1,105,808 2,385,218 6,229,618 (470,957) 18,183,952 1,271,937 (30,649,691) 11,594,417 136,128 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 GOV NEW OPPTY LP REIT GOV NEW OPPTY REIT GPT Properties LLC GPT Properties Trust Grand Oak Circle Tampa LLC Jan Davis Huntsville LLC OPI 25 Exchange LLC OPI AL Properties LLC OPI BND Holdings Trust OPI BND Properties LLC Case No. 25-90562 Case No. 25-90567 Case No. 25-90538 Case No. 25-90541 Case No. 25-90544 Case No. 25-90552 Case No. 25-90547 Case No. 25-90569 Case No. 25-90572 Case No. 25-90574 - - - - - - 472 - - 5,982,587 - - - - - - - - - - - - 28,861 5,829,478 522,776 475,571 3,624,840 73,940 - 20,100,241 - - 28,861 5,829,478 522,776 475,571 3,625,312 73,940 - 26,082,828 - - 2,618,281 41,704,569 1,100,000 1,501,255 26,025,942 2,293,870 - 41,059,701 - - 9,246,016 126,693,756 13,592,998 1,491,443 45,649,641 21,883,584 - 277,260,201 - - (1,374,060) (39,707,346) (5,128,406) (281,137) (12,753,999) (7,356,458) - (83,108,176) - - 10,490,237 128,690,979 9,564,592 2,711,561 58,921,584 16,820,996 - 235,211,726 - - 491,032 161,978,251 389,637 5,765,350 38,680,033 27,184,639 - 133,182,203 - - - 2,164,218 194,914 - 1,889,119 - - 14,487,918 - - - 4,279,326 - 1,680,267 686,331 793,266 - 3,683,525 - - (11,777,514) (119,958,874) (3,977,171) (6,880,000) (73,001,786) (27,589,394) - (283,980,559) - - (767,384) 182,983,378 6,694,747 3,752,750 30,800,592 17,283,447 - 128,667,641 - - 46,311 1,361,358 95,247 25,566 9,610,875 62,661 - 13,817,286 - - 42,594 - - - 8,466,967 - - 5,205,521 - - - - - - - 164,583 - - - - - - - - - - - 477,804 - - 375 247,854 4,015 7,529 26,297 18,049 - 420,867 - - 89,280 1,609,212 99,263 33,095 18,104,139 245,293 - 19,921,479 - - - - - - - - - - - - - - - - - - - - - - (856,664) 181,374,166 6,595,485 3,719,655 12,696,453 17,038,154 - 108,746,163 - - - - - - - - - - - - (856,664) 181,374,166 6,595,485 3,719,655 12,696,453 17,038,154 - 108,746,163 - - (767,384) 182,983,378 6,694,747 3,752,750 30,800,592 17,283,447 - 128,667,641 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 OPI Notex Holdings Trust OPI Notex Properties LLC OPI TRS Inc. OPI WF Borrower LLC OPI WF Holding LLC OPI WF Owner LLC Primerica Holdco LLC Santa Clara (Walsh) LLC SC Merger Sub LLC Schrock Road Columbus LLC Case No. 25-90554 Case No. 25-90550 Case No. 25-90529 Case No. 25-90577 Case No. 25-90580 Case No. 25-90583 Case No. 25-90586 Case No. 25-90589 Case No. 25-90591 Case No. 25-90553 - 719,138 - - - - - - - - - - - - - 12,227,053 - - - - - 26,473,162 - - - 38,577,236 - 1,398,651 - 166,844 - 27,192,300 - - - 50,804,289 - 1,398,651 - 166,844 - 36,462,190 - - - 98,527,272 - 6,686,964 - 716,285 - 213,818,973 - - - 638,946,336 - 11,815,914 - 794,543 - (53,646,547) - - - (159,619,589) - (1,961,994) - (299,886) - 196,634,616 - - - 577,854,019 - 16,540,884 - 1,210,942 - 120,445,440 - - - 709,183,604 - 28,976,983 - 1,762,718 - 20,162,625 - - - 14,670,820 - 1,622,136 - 357,918 - 12,224,090 - - - 53,364,668 - 773,653 - - - (302,608,682) - - - (788,580,923) - (38,696,131) - (2,774,770) - 74,050,389 - - - 617,296,477 - 10,616,176 - 723,653 - 29,726,655 20,970 - - 17,862,515 - 344,020 - 67,260 - 7,958,210 15,954 - - 2,078,830 - - - - - 118,852 - - - 6,217,742 - - - - - - - - - 424,193,835 - - - - - 256,688 271,415 - - 7,266,753 - 756 - 110 - 38,060,405 308,339 - - 457,619,676 - 344,776 - 67,370 - - - - - - - - - - - - - - - - - - - - - 35,989,984 (308,339) - - 159,676,801 - 10,271,400 - 656,283 - - - - - - - - - - - 35,989,984 (308,339) - - 159,676,801 - 10,271,400 - 656,283 - 74,050,389 - - - 617,296,477 - 10,616,176 - 723,653 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Campbell Place Inc. SIR Centennial LLC SIR Colorado Springs LLC SIR Fort Mill LLC SIR GP Redwood City LLC SIR Holdings Corporation SIR Irving (Freeport) LLC SIR Johnston LLC SIR Omaha LLC SIR Operating Partnership LP Case No. 25-90535 Case No. 25-90595 Case No. 25-90598 Case No. 25-90559 Case No. 25-90561 Case No. 25-90563 Case No. 25-90539 Case No. 25-90566 Case No. 25-90568 Case No. 25-90571 - - 6,031,865 - - - - - - - - - 10,754,171 - - - - - - - 750,579 606,190 - 91,281 - - 314,566 73,964 665,392 - 750,579 606,190 16,786,036 91,281 - - 314,566 73,964 665,392 - 2,687,482 6,682,058 - 834,031 - - 12,970,268 2,649,274 4,157,250 - 3,409,718 10,700,891 - 3,034,769 - - 32,416,907 7,996,883 8,686,400 - (1,167,031) (2,133,713) - (622,752) - - (6,197,517) (1,570,088) (1,274,212) - 4,930,169 15,249,236 - 3,246,048 - - 39,189,658 9,076,069 11,569,438 - 2,160,230 - 12,005,500 4,566,556 - - 36,884,894 21,936,444 27,056,105 - 407,637 1,106,167 - 135,104 - - - - 719,828 - - - - - - - - 1,883,063 - - (5,515,554) (20,233,774) (10,065,676) (6,224,660) - - (62,646,902) (26,360,156) (30,656,119) - 2,733,061 (3,272,182) 18,725,860 1,814,329 - - 13,742,216 6,609,384 9,354,644 - 285,347 767,178 15,220 195,928 - - 122,309 282,631 214,565 - - 33,752 5,591,012 - - - 1,226,670 - 676,654 - - - - - - - - - - - - - - - - - - - - - 5,811 1,286,729 109,881 30 - - 133,451 84 247,979 - 291,157 2,087,660 5,716,112 195,958 - - 1,482,431 282,715 1,139,197 - - - - - - - - - - - - - - - - - - - - - 2,441,903 (5,359,841) 13,009,748 1,618,371 - - 12,259,785 6,326,669 8,215,447 - - - - - - - - - - - 2,441,903 (5,359,841) 13,009,748 1,618,371 - - 12,259,785 6,326,669 8,215,447 - 2,733,061 (3,272,182) 18,725,860 1,814,329 - - 13,742,216 6,609,384 9,354,644 - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Parsippany (Jefferson) LLC SIR Philadelphia LLC SIR Properties REIT LLC SIR Properties Trust SIR Redwood City LP SIR REIT New Braunfels LLC SIR REIT Plano LLC SIR Rocklin (Office) LLC SIR San Jose LLC SIR Santa Clara LP Case No. 25-90542 Case No. 25-90549 Case No. 25-90575 Case No. 25-90579 Case No. 25-90582 Case No. 25-90545 Case No. 25-90585 Case No. 25-90588 Case No. 25-90548 Case No. 25-90592 - - - - - - - - - - - - - - - - - - - - - - 3,232,857 456,362 182,696 172,082 1,106,624 - 4,107 17,968 - - 3,232,857 456,362 182,696 172,082 1,106,624 - 4,107 17,968 4,543,015 5,573,288 9,318,246 14,038,798 14,453,262 4,964,936 6,819,428 - 12,304,407 - 4,599,749 29,808,862 60,758,431 17,312,437 7,722,143 2,375,284 12,829,055 - 5,448,273 - (1,075,611) (5,573,069) (15,637,104) (4,551,967) (1,516,147) (271,425) (1,774,502) - (1,139,441) - 8,067,152 29,809,081 54,439,573 26,799,269 20,659,259 7,068,795 17,873,981 - 16,613,238 - 8,314,251 - 77,167,528 55,067,403 17,519,127 4,821,878 6,726,469 917,628 17,725,669 24,960,565 - - 803,444 - 158,805 404,758 3,756,043 - 1,325,978 - - - 3,806,656 1,507,005 - - - - 752,288 - (17,756,713) (7,118,236) (95,482,448) (43,657,168) (27,517,425) (9,029,449) (20,891,518) - (23,117,520) - (1,375,310) 22,690,845 43,967,609 40,172,871 11,002,461 3,438,065 8,571,598 917,628 13,303,762 24,978,533 53,867 121,881 2,093,674 559,999 287,511 145,990 5,721,460 - 897,329 (0) 219,574 287,578 - - 242,367 37,133 58,430 - 713,079 - - - 185,856 - - - - - - - - - - - - - - - - - 15,587 18,993,095 705,276 234,114 346 547 383 - 1,361 - 289,028 19,402,554 2,984,806 794,113 530,225 183,669 5,780,273 - 1,611,768 (0) - - - - - - - - - - - - - - - - - - - - (1,664,338) 3,288,291 40,982,803 39,378,758 10,472,236 3,254,396 2,791,325 917,628 11,691,994 24,978,533 - - - - - - - - - - (1,664,338) 3,288,291 40,982,803 39,378,758 10,472,236 3,254,396 2,791,325 917,628 11,691,994 24,978,533 (1,375,310) 22,690,845 43,967,609 40,172,871 11,002,461 3,438,065 8,571,598 917,628 13,303,762 24,978,533 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 2 Balance Sheet by Legal Entity For the period ended 1/31/2026 Cash and cash equivalents Restricted cash Rents receivable Total Current Assets Land Buildings and improvements Accumulated depreciation Real estate properties (net) Due from related parties Deferred leasing costs (net) Acquired real estate leases - net Other assets (net) Total Assets Accounts payable and other liabilities Due to related parties Assumed real estate lease obligations (net) Secured debt (net) Liabilities subject to compromise Total Liabilities Common shares of beneficial interest Additional paid in capital Cumulative net income Cumulative common distributions Total Shareholders' Equity Total Liabilities and Shareholders' Equity Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Westford LLC Twelve24 Atlanta LLC West Java Sunnyvale LLC Case No. 25-90597 Case No. 25-90600 Case No. 25-90601 - - - - - - - 5,140,871 3,306,010 - 5,140,871 3,306,010 - 13,040,272 24,608,813 - 145,947,638 3,757,541 - (20,426,925) (773,933) - 138,560,985 27,592,421 17,137,960 36,990,150 13,033,880 - 124,314 1,944,859 - 21,556,365 822,203 - (179,877,188) (28,907,604) 17,137,960 22,495,497 17,791,770 - 982,175 421,641 - - - - - - - - - - 46,176 1,424 - 1,028,351 423,064 - - - - - - 17,137,960 21,467,146 17,368,705 - - - 17,137,960 21,467,146 17,368,705 17,137,960 22,495,497 17,791,770 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Office Properties Income Trust Government Properties Income Trust LLC 112 Ave Miami LLC 20 Mass Ave TRS Inc. 3400 Plano TX LLC 440 First Street LLC ACP East LLC Bayside Pkwy Fremont 2 LLC Burt Street Omaha LLC Clay Holdco LLC Case No. 25-90530 Case No. 25-90536 Case No. 25-90551 Case No. 25-90565 Case No. 25-90555 Case No. 25-90570 Case No. 25-90573 Case No. 25-90532 Case No. 25-90556 Case No. 25-90576 Rental Income - 798,756 302,627 1,173,527 158,030 655,993 44,915 254,457 190,052 - Real estate taxes - (147,562) (40,252) - - (108,021) 335 (20,147) (21,471) - Utility expenses - (22,768) (16,456) - - (102,179) (7,483) - - - Other operating expenses - (195,902) (50,840) (2,134,956) (9,911) (129,677) (9,803) (23,968) (33,212) - Depreciation and amortization - (1,138,701) (42,195) - (82,948) (208,002) (25,355) (33,195) (62,960) - Transaction related costs - - - - - - - - - - General and administrative (169,112) (70,955) (6,648) - (7,316) (20,505) (2,023) (3,402) (4,219) - Total Expenses (169,112) (1,575,888) (156,392) (2,134,956) (100,175) (568,383) (44,329) (80,712) (121,860) - Operating Income (169,112) (777,132) 146,235 (961,430) 57,855 87,610 586 173,745 68,191 - Gain/loss on sale of real estate - - - - - - - - - - Interest and other income 52,877 16,870 - 1,044 - 3,226 - - - - Interest expense (104,211) - - - - - - - - - Reorganization Items, net (8,237,547) - - - - - - - - - Income tax (expense) benefit - - - - - - - - - - Equity in net losses of investees - - - - - - - - - - Net income (loss) available for common shareholders (8,457,993) (760,262) 146,235 (960,385) 57,855 90,836 586 173,745 68,191 - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 Clay Road Houston LLC CRI SIR LLC Elliott Ave Seattle LLC Ewing Holdco LLC First Potomac DC Holdings, LLC FP 11 Dupont Circle, LLC FP 1211 Connecticut Avenue, LLC FP 1401 K, LLC FP 1775 Wiehle Avenue, LLC FP 540 Gaither, LLC Case No. 25-90557 Case No. 25-90578 Case No. 25-90558 Case No. 25-90581 Case No. 25-90584 Case No. 25-90534 Case No. 25-90590 Case No. 25-90540 Case No. 25-90593 Case No. 25-90537 192,703 - 558,681 - - 896,655 200,348 325,592 237,226 201,735 - - (141,278) - - (76,257) (60,773) (71,899) (24,183) (36,071) - - 21,083 - - (41,084) (50,055) (73,078) (24,564) (50,938) (31,220) - (164,827) - - (246,282) (38,426) (110,736) (36,024) (57,287) (62,968) - (866,606) - - (349,346) (104,174) (197,155) (154,809) (104,150) - - - - - - - - - - (7,240) - (66,225) - - (24,079) (15,241) (18,561) (9,306) (8,669) (101,428) - (1,217,854) - - (737,048) (268,670) (471,430) (248,886) (257,115) 91,275 - (659,174) - - 159,608 (68,321) (145,838) (11,661) (55,380) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 91,275 - (659,174) - - 159,608 (68,321) (145,838) (11,661) (55,380) |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 FP 6310 Hillside Center, LLC FP 6315 Hillside Center, LLC FP 840 First Street, LLC FP Atlantic Corporate Park, LLC FP Patuxent Parkway, LLC FP Redland Technology Center LLC FP Sterling Park Land, LLC GOV Lake Fairfax Inc. GOV Lakewood Properties Trust GOV NEW OPPTY LP Case No. 25-90594 Case No. 25-90543 Case No. 25-90587 Case No. 25-90531 Case No. 25-90546 Case No. 25-90533 Case No. 25-90596 Case No. 25-90599 Case No. 25-90560 Case No. 25-90564 103,486 18,107 166,710 433,307 174,930 924,724 - - - - (7,914) (5,873) (102,719) (25,711) (19,583) (105,840) (1,341) (15,007) (41,051) - (9,038) (8,287) (42,048) (50,235) (8,304) (56,527) - (29,012) 14,672 - (30,724) (18,570) (63,710) (88,439) (57,576) (111,667) (1) (11,478) (21,636) - (23,589) (9,293) (186,656) (113,117) (91,306) (438,616) - (134,417) (12,647) - - - - - - - - - - - (1,233) (1,313) (32,403) (11,911) (7,145) (23,672) (275) (17,566) (6,597) - (72,497) (43,335) (427,535) (289,412) (183,915) (736,323) (1,616) (207,479) (67,258) - 30,989 (25,228) (260,825) 143,895 (8,985) 188,401 (1,616) (207,479) (67,258) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30,989 (25,228) (260,825) 143,895 (8,985) 188,401 (1,616) (207,479) (67,258) - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 GOV NEW OPPTY LP REIT GOV NEW OPPTY REIT GPT Properties LLC GPT Properties Trust Grand Oak Circle Tampa LLC Jan Davis Huntsville LLC OPI 25 Exchange LLC OPI AL Properties LLC OPI BND Holdings Trust OPI BND Properties LLC Case No. 25-90562 Case No. 25-90567 Case No. 25-90538 Case No. 25-90541 Case No. 25-90544 Case No. 25-90552 Case No. 25-90547 Case No. 25-90569 Case No. 25-90572 Case No. 25-90574 - - 27,750 1,530,811 185,260 80,340 620,823 283,882 - 3,431,978 - - (5,897) (230,474) (18,684) (22,936) (88,536) (10,967) - (378,388) - - (1,131) (202,262) (7,347) - (118,242) (4,573) - (87,235) - - (18,858) (310,665) (39,356) (7,517) (200,051) (61,973) - (453,026) - - (19,263) (532,096) (40,323) (28,794) (229,536) (72,770) - (1,244,098) - - - - - - - - - - - - (2,573) (39,693) (3,381) (2,230) (22,368) (6,284) - (86,956) - - (47,721) (1,315,190) (109,092) (61,478) (658,733) (156,567) - (2,249,704) - - (19,971) 215,621 76,169 18,862 (37,909) 127,315 - 1,182,275 - - - - - - - - - - - - - - - - 472 - - 7,856 - - - - - - (1,132,067) - - (2,727,804) - - - - - - (6,926,159) - - (1,171,352) - - - - - - - - - - - - - - - - - - - - - - (19,971) 215,621 76,169 18,862 (8,095,663) 127,315 - (2,709,026) |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 OPI Notex Holdings Trust OPI Notex Properties LLC OPI TRS Inc. OPI WF Borrower LLC OPI WF Holding LLC OPI WF Owner LLC Primerica Holdco LLC Santa Clara (Walsh) LLC SC Merger Sub LLC Schrock Road Columbus LLC Case No. 25-90554 Case No. 25-90550 Case No. 25-90529 Case No. 25-90577 Case No. 25-90580 Case No. 25-90583 Case No. 25-90586 Case No. 25-90589 Case No. 25-90591 Case No. 25-90553 - 4,048,886 - - - 8,124,743 - 235,282 - 42,681 - (378,215) - - - (1,144,588) - (29,755) - - - (400,015) - - - (54,319) - - - - - (781,908) (5,489) - - (1,390,294) - (22,010) - (7,656) - (1,303,218) - - - (3,697,743) - (64,413) - (10,071) - - - - - - - - - - - (108,274) - - - (237,379) - (6,595) - (1,531) - (2,971,630) (5,489) - - (6,524,323) - (122,772) - (19,259) - 1,077,256 (5,489) - - 1,600,420 - 112,510 - 23,422 - - - - - - - - - - - 842 - - - 18,163 - - - - - (4,574,992) - - - (3,637,233) - - - - - (4,426,032) - - - (1,195,473) - - - - - - - - - - - - - - - - - - - - - - - - - (7,922,927) (5,489) - - (3,214,123) - 112,510 - 23,422 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Campbell Place Inc. SIR Centennial LLC SIR Colorado Springs LLC SIR Fort Mill LLC SIR GP Redwood City LLC SIR Holdings Corporation SIR Irving (Freeport) LLC SIR Johnston LLC SIR Omaha LLC SIR Operating Partnership LP Case No. 25-90535 Case No. 25-90595 Case No. 25-90598 Case No. 25-90559 Case No. 25-90561 Case No. 25-90563 Case No. 25-90539 Case No. 25-90566 Case No. 25-90568 Case No. 25-90571 104,923 110,853 - 75,366 - - - 238,058 93,582 - (14,796) (197,589) - - - - (136,686) - (23,307) - (2,569) (5,522) - - - - (21,409) - 6,779 - (38,962) (45,949) - (20,013) - - (13,062) (14,240) (59,611) - (22,928) (50,800) - (11,824) - - (72,912) (151,559) (36,500) - - - - - - - - - - - (4,642) (9,510) - (2,303) - - (22,278) (9,648) (10,452) - (83,896) (309,369) - (34,140) - - (266,346) (175,447) (123,091) - 21,026 (198,516) - 41,226 - - (266,346) 62,611 (29,509) - - - - - - - - - - - - - 38,174 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 21,026 (198,516) 38,174 41,226 - - (266,346) 62,611 (29,509) - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Parsippany (Jefferson) LLC SIR Philadelphia LLC SIR Properties REIT LLC SIR Properties Trust SIR Redwood City LP SIR REIT New Braunfels LLC SIR REIT Plano LLC SIR Rocklin (Office) LLC SIR San Jose LLC SIR Santa Clara LP Case No. 25-90542 Case No. 25-90549 Case No. 25-90575 Case No. 25-90579 Case No. 25-90582 Case No. 25-90545 Case No. 25-90585 Case No. 25-90588 Case No. 25-90548 Case No. 25-90592 - - 1,127,136 444,741 48,494 153,431 289,527 - 234,448 - (25,601) (81,673) (117,151) (51,980) (42,577) (17,688) (27,450) - (43,966) - (4,663) 11,010 (92,788) (22,645) (1,335) (5,046) - - (1,638) - (46,490) (36,082) (177,138) (72,047) (23,555) (47,049) (112,428) - (19,830) - (14,124) (76,616) (386,857) (131,026) (26,456) (19,687) (82,244) - (37,156) - - - - - - - - - - - (8,730) (19,770) (22,005) (14,507) (8,760) (3,878) (6,209) - (8,683) - (99,608) (203,131) (795,939) (292,204) (102,684) (93,348) (228,331) - (111,273) - (99,608) (203,131) 331,197 152,536 (54,190) 60,083 61,196 - 123,176 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (99,608) (203,131) 331,197 152,536 (54,190) 60,083 61,196 - 123,176 - |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Office Properties Income Trust, et al. Debtors Support Documentation to MOR - 3 Income Statement by Legal Entity For the period 1/1/2026 through 1/31/2026 Rental Income Real estate taxes Utility expenses Other operating expenses Depreciation and amortization Transaction related costs General and administrative Total Expenses Operating Income Gain/loss on sale of real estate Interest and other income Interest expense Reorganization Items, net Income tax (expense) benefit Equity in net losses of investees Net income (loss) available for common shareholders Case No. 25-90530 (CML) Reporting Period: January 1, 2026 through January 31, 2026 SIR Westford LLC Twelve24 Atlanta LLC West Java Sunnyvale LLC Case No. 25-90597 Case No. 25-90600 Case No. 25-90601 - 1,299,220 371,579 - (176,185) (34,080) - 5,332 (680) - (103,325) (39,403) - (1,598,199) (60,073) - - - - (41,804) (6,839) - (1,914,182) (141,075) - (614,962) 230,504 - - - - - - - - - - - - - - - - - - - (614,962) 230,504 |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 4 Schedule of Prepetition Payments For the period 1/1/2026 through 1/31/2026 The Debtors hereby submit this attestation regarding prepetition payments payments during the period of January 1, 2026 through January 31, 2026. /s/ John R. Castellano March 2, 2026 Signature of Authorized Individual Date John R. Castellano Chief Restructuring Officer Printed Name of Authorized Individual Title of Authorized Individual All payments made by the Debtors on account of prepetition claims during the period of January 1, 2026 through January 31, 2026 were authorized under First Day Orders granted by the Bankruptcy Court. |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 5 Schedule of Payments to Insiders For the period 1/1/2026 through 1/31/2026 Legal Entity Party Name Description Date Amount 112 Ave Miami LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 239 20 Mass Ave TRS Inc. Sonesta International Hotel Management Fees 1/30/2026 201,920 3400 Plano TX LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 123 440 First Street LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 219 440 First Street LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 98 ACP East LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 54 ACP East LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 87 Bayside Pkwy Fremont 2 LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 19 Burt Street Omaha LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 401 Clay Road Houston LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 120 Elliott Ave Seattle LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 291 FP 11 Dupont Circle, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 219 FP 11 Dupont Circle, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 528 FP 1211 Connecticut Avenue, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 259 FP 1211 Connecticut Avenue, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 98 FP 1401 K, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 444 FP 1401 K, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 98 FP 1775 Wiehle Avenue, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 10 FP 540 Gaither, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 29 FP 540 Gaither, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 4,472 FP 6310 Hillside Center, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 54 FP 6310 Hillside Center, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 87 FP 6315 Hillside Center, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 54 FP 6315 Hillside Center, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 87 FP 840 First Street, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 365 FP 840 First Street, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 98 FP Atlantic Corporate Park, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 20 FP Patuxent Parkway, LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 74 FP Patuxent Parkway, LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 87 FP Patuxent Parkway, LLC The RMR Group LLC Payroll & Benefits 1/23/2026 382 FP Redland Technology Center LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 213 FP Redland Technology Center LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 1,243 GOV Lakewood Properties Trust The RMR Group LLC Maintenance & Other Expenses 1/23/2026 12 Government Properties Income Trust LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 695 Government Properties Income Trust LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 236 GPT Properties LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 609 GPT Properties Trust The RMR Group LLC Maintenance & Other Expenses 1/9/2026 1,844 GPT Properties Trust The RMR Group LLC Maintenance & Other Expenses 1/23/2026 1,368 GPT Properties Trust The RMR Group LLC Payroll & Benefits 1/9/2026 12,585 Grand Oak Circle Tampa LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 152 Jan Davis Huntsville LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 172 Non-Debtors (CMBS) The RMR Group LLC Maintenance & Other Expenses 1/16/2026 927 Non-Debtors (CMBS) The RMR Group LLC Maintenance & Other Expenses 1/23/2026 1,108 Office Properties Income Trust Redan Advisors LLC Independent Director Fees 1/9/2026 7,659 Office Properties Income Trust The RMR Group LLC Property Management & Construction Fees 1/30/2026 4,209 Office Properties Income Trust TRP Advisors LLC Independent Director Fees 1/16/2026 10,942 Office Properties Income Trust Wildrose Partners LLC Independent Director Fees 1/9/2026 7,659 OPI 25 Exchange LLC Redan Advisors LLC Independent Director Fees 1/9/2026 6,519 OPI 25 Exchange LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 110 OPI 25 Exchange LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 215 OPI 25 Exchange LLC TRP Advisors LLC Independent Director Fees 1/16/2026 9,313 OPI 25 Exchange LLC Wildrose Partners LLC Independent Director Fees 1/9/2026 6,519 OPI AL Properties LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 337 OPI BND Properties LLC Redan Advisors LLC Independent Director Fees 1/9/2026 4,679 OPI BND Properties LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 8,739 OPI BND Properties LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 156 OPI BND Properties LLC The RMR Group LLC Payroll & Benefits 1/23/2026 25,111 OPI BND Properties LLC TRP Advisors LLC Independent Director Fees 1/16/2026 6,684 OPI BND Properties LLC Wildrose Partners LLC Independent Director Fees 1/9/2026 4,679 OPI Notex Properties LLC Redan Advisors LLC Independent Director Fees 1/9/2026 9,514 OPI Notex Properties LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 5,008 The Debtors hereby submit this attestation regarding insider payments payments during the period of January 1, 2026 through January 31, 2026. For additional information regarding the applicable reporting period and insider payment details, please refer to the Global Notes. |
| Legal Entity Party Name Description Date Amount OPI Notex Properties LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 2,883 OPI Notex Properties LLC TRP Advisors LLC Independent Director Fees 1/16/2026 13,591 OPI Notex Properties LLC Wildrose Partners LLC Independent Director Fees 1/9/2026 9,514 OPI WF Owner LLC Redan Advisors LLC Independent Director Fees 1/9/2026 6,629 OPI WF Owner LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 17,018 OPI WF Owner LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 4,755 OPI WF Owner LLC The RMR Group LLC Payroll & Benefits 1/9/2026 63,547 OPI WF Owner LLC The RMR Group LLC Payroll & Benefits 1/16/2026 25,379 OPI WF Owner LLC The RMR Group LLC Payroll & Benefits 1/23/2026 129,414 OPI WF Owner LLC TRP Advisors LLC Independent Director Fees 1/16/2026 9,469 OPI WF Owner LLC Wildrose Partners LLC Independent Director Fees 1/9/2026 6,629 Santa Clara (Walsh) LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 19 Schrock Road Columbus LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 11 SIR Campbell Place Inc. The RMR Group LLC Maintenance & Other Expenses 1/9/2026 1,802 SIR Centennial LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 86 SIR Centennial LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 164 SIR Irving (Freeport) LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 23 SIR Irving (Freeport) LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 22 SIR Omaha LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 401 SIR Parsippany (Jefferson) LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 47 SIR Philadelphia LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 434 SIR Properties REIT LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 1,802 SIR Properties REIT LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 3,515 SIR Properties Trust The RMR Group LLC Maintenance & Other Expenses 1/9/2026 1,859 SIR Properties Trust The RMR Group LLC Maintenance & Other Expenses 1/23/2026 1,269 SIR Redwood City LP The RMR Group LLC Maintenance & Other Expenses 1/9/2026 1,433 SIR REIT New Braunfels LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 427 SIR REIT Plano LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 561 SIR REIT Plano LLC The RMR Group LLC Maintenance & Other Expenses 1/23/2026 756 SIR San Jose LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 19 Twelve24 Atlanta LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 1,301 West Java Sunnyvale LLC The RMR Group LLC Maintenance & Other Expenses 1/9/2026 19 /s/ John R. Castellano March 2, 2026 Signature of Authorized Individual Date John R. Castellano Chief Restructuring Officer Printed Name of Authorized Individual Title of Authorized Individual |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 6 Schedule of Post-Petition Tax Payments For the period 1/1/2026 through 1/31/2026 The Debtors hereby submit this attestation regarding postpetition tax payments during the period of January 1, 2026 through January 31, 2026. The Debtors believe that they are current with respect to any postpetition Taxes and Fees that have come due. /s/ John R. Castellano March 2, 2026 Signature of Authorized Individual Date John R. Castellano Chief Restructuring Officer Printed Name of Authorized Individual Title of Authorized Individual |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 7 Schedule of Post-Petition Borrowing For the period 1/1/2026 through 1/31/2026 The Debtors hereby submit this attestation regarding postpetition borrowing during the period of January 1, 2026 through January 31, 2026. /s/ John R. Castellano March 2, 2026 Signature of Authorized Individual Date John R. Castellano Chief Restructuring Officer Printed Name of Authorized Individual Title of Authorized Individual On November 5, 2025, the Bankruptcy Court entered the Interim Order Pursuant to Sections 105, 361, 362, 363, and 364 of the Bankruptcy Code and Rules 2002, 4001, 6004, and 9014 of the Federal Rules of Bankruptcy Procedure (I) Authorizing the Debtors to Use Cash Collateral and Obtain Secured Postpetition Financing; (II) Granting Liens and Superpriority Administrative Claims; (III) Providing Adequate Protection; (IV) Scheduling a Final Hearing; and (V) Granting Related Relief [Docket No. 150] (the “Interim DIP Order”) authorizing the Debtors to enter into the DIP Documents (as defined in the Interim DIP Order) and obtain post-petition borrowing thereunder. On November 6, 2025, in accordance with the Interim DIP Order, the Debtors drew $10 million under the DIP Facility, net any fees payable to the DIP Agent and the DIP Lenders (each as defined in the Interim DIP Order). The Debtors received $9.7 million on November 6, 2025 into their Segregated Account (as defined in the Interim DIP Order). The Bankruptcy Court held the Final Hearing (as defined in the Final DIP Order) on January 28, 2026, and on February 4, 2026, entered the Final Order Pursuant to Sections 105, 361, 362, 363, and 364 of the Bankruptcy Code and Rules 2002, 4001, 6004, and 9014 of the Federal Rules of Bankruptcy Procedure (I) Authorizing the Debtors to Use Cash Collateral and Obtain Secured Postpetition Financing; (II) Granting Liens and Superpriority Administrative Claims; (III) Providing Adequate Protection; and (IV) Granting Related Relief (the “Final DIP Order”). By February 6, 2026, in accordance with the Final DIP Order, the Debtors drew $75 million under the DIP Facility. The Debtors received $64.3 million on February 6, 2026 into their Segregated Account, net any fees payable to the DIP Agent and the DIP Lenders and the amount of the Tranche A2 Term Loan (as defined in the Final DIP Order). |
| United States Bankruptcy Court Southern District of Texas Houston Division In re: Case No. 25-90530 (CML) Office Properties Income Trust, et al. Reporting Period: January 1, 2026 through January 31, 2026 Debtors Support Documentation to MOR - 8 Bank Statements and Bank Reconciliations For the period 1/1/2026 through 1/31/2026 The Debtors hereby submit this attestation regarding bank account reconciliations in lieu of providing copies of bank reconciliations and journal entries. /s/ John R. Castellano March 2, 2026 Signature of Authorized Individual Date John R. Castellano Chief Restructuring Officer Printed Name of Authorized Individual Title of Authorized Individual The Debtors’ standard practice is to ensure that bank reconciliations are completed as part of the month end close each reporting period. I attest that each of the Debtors’ bank accounts has been reconciled in accordance with their standard practices. The Debtors have seperately submitted bank statements for the Debtors' bank accounts covering the periods of January 1, 2026 through January 31, 2026 to the US Trustee. |
FAQ
What did Office Properties Income Trust (OPINL) announce about its chapter 11 progress?
How will unsecured noteholders of OPINL be treated under the proposed plan settlements?
What happens to Office Properties Income Trust’s existing common shares under the plan?
What are the key terms of the new promissory note for OPINL’s 2027 Senior Secured Notes?
Will OPINL’s trade and vendor creditors be paid in full in the restructuring?
When is the effective date of Office Properties Income Trust’s reorganization plan targeted?
What is the equity rights offering described for OPINL and who can participate?
Filing Exhibits & Attachments
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