City Office REIT, Inc. (NYSE:CIO) Q4 2022 Earnings Call Transcript

Craig Kucera: Right. And just one more for me. Tony, you’ve got the third, fourth quarter debt maturities. I think they’re priced just over 3%. I guess, kind of what are you seeing currently as far as comparable mortgage debt and kind of how are you thinking about dealing with those two debt maturities?

Tony Maretic: Yes, sure Craig. So both of those mature later this year, September and October expirations. Both of those are with a regional bank. And so, we have started preliminary conversations with them on renewable as well as starting to canvas whether — there might be other lenders of interest. Today, you’re looking at probably refinancing those, I would say, in the low 6s, if you’re looking at a rate, probably 250 basis points whatever the index that you choose. But given both of those assets are pretty buttoned up in terms of occupancy and significant lease term, not anticipating any problems with refinancing those two properties.

Craig Kucera: Okay. Thanks for your time guys.

Tony Maretic: Thanks Craig.

Jamie Farrar: Thanks Craig.

Operator: Thank you. As there are no additional questions, I will turn the call back over to Mr. Farrar to conclude.

Jamie Farrar: Thanks for joining today. We look forward to updating you on our progress next quarter. Goodbye.

Operator: Thank you for joining today’s call. You may now disconnect your lines.