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Ravelin Properties REIT Announces Extended Loan Forbearance Periods and Indebtedness Waiver
Toronto, Ontario--(Newsfile Corp. - December 17, 2025) - Ravelin Properties REIT (TSX: RPR.UN) ("...
About this update from Ravelin Properties Reit
[{"type":"text","content":"Ravelin Properties REIT Announces Extended Loan Forbearance Periods and Indebtedness WaiverToronto, Ontario--(Newsfile Corp. - December 17, 2025) - Ravelin Properties REIT (TSX: RPR.UN) (\"Ravelin\" or the \"REIT\"), an internally managed global owner and operator of well-located commercial real estate, announced today that G2S2 Capital Inc. (\"G2S2 Capital\") has, at the request of an independent committee of the board of trustees of the REIT, agreed to extend the forbearance period on certain loans of the REIT in the aggregate principal amount of approximately CAD$528.3 million and US$45.5 million (the \"Loans\") held by G2S2 Capital to March 31, 2026. The REIT also announced that the lender with respect to the REIT's 120 South LaSalle office property in Chicago, US (the \"120 South LaSalle Loan\") previously completed a sale and assignment of all the indebtedness and obligations under the 120 South LaSalle Loan to G2S2, in the aggregate principal amount of approximately US$84 million. At the request of an independent committee of the board of trustees of the REIT, G2S2 has agreed to a forbearance period with respect to the 120 South LaSalle Loan, which will expire on March 31, 2026, and aligns with the extended forbearance period in respect of the Loans.The extended forbearance period allows the REIT to continue to explore available alternatives to address its financial difficulties, including the current defaults on its existing indebtedness and its ongoing capital requirements, including to potentially raise additional debt or equity financing or to seek a restructuring of all or a portion of the REIT's outstanding indebtedness (a \"Recapitalization Plan\"). As part of that, the REIT, led by an independent committee of its trustees, is continuing discussions with G2S2 Capital and other lenders regarding the terms of an acceptable potential Recapitalization Plan. The REIT also expects to engage in discussions with significant holders of convertible debentures in connection with any Recapitalization Plan.As of the date hereof, no agreement has been reached with any of the REIT's stakeholders with respect to any potential Recapitalization Plan, and there can be no assurance that the REIT will be successful in negotiating a potential Recapitalization Plan, or in raising the additional funding needed for the REIT to continue as ...