Alexanders Inc. Enters Material Definitive Agreement
Ticker: ALX · Form: 8-K · Filed: Jun 12, 2024 · CIK: 3499
Sentiment: neutral
Topics: material-agreement, financial-obligation, real-estate
TL;DR
ALEX enters new material agreement, creating financial obligation.
AI Summary
Alexanders Inc. entered into a material definitive agreement on June 11, 2024. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Alexanders Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement and creating a direct financial obligation can introduce new financial risks and uncertainties for the company.
Key Players & Entities
- Alexanders Inc. (company) — Registrant
- June 11, 2024 (date) — Date of earliest event reported
- 201-587-8541 (phone_number) — Registrant's telephone number
FAQ
What type of material definitive agreement did Alexanders Inc. enter into?
The filing states that Alexanders Inc. entered into a material definitive agreement on June 11, 2024, but does not specify the exact nature of the agreement.
What is the nature of the direct financial obligation created by this agreement?
The filing confirms the creation of a direct financial obligation but does not provide specific details about its terms or amount.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on June 11, 2024.
What is the principal executive office address for Alexanders Inc.?
The principal executive offices of Alexanders Inc. are located at 210 Route 4 East, Paramus, New Jersey 07652.
What is the SIC code for Alexanders Inc.?
The Standard Industrial Classification (SIC) code for Alexanders Inc. is 6798, which corresponds to Real Estate Investment Trusts.
Filing Stats: 798 words · 3 min read · ~3 pages · Grade level 13.2 · Accepted 2024-06-11 17:42:01
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value per share ALX New York Stoc
- $500,000,000 m — ent dated June 1, 2017, relating to the $500,000,000 mortgage loan secured by the office porti
- $10,000,000 — rincipal amount of the Mortgage Loan by $10,000,000. Borrower expects to complete a refin
Filing Documents
- alx-20240611.htm (8-K) — 36KB
- a731lexington-extensionand.htm (EX-99.1) — 92KB
- 0000003499-24-000025.txt ( ) — 268KB
- alx-20240611.xsd (EX-101.SCH) — 2KB
- alx-20240611_lab.xml (EX-101.LAB) — 21KB
- alx-20240611_pre.xml (EX-101.PRE) — 12KB
- alx-20240611_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On June 11, 2024, 731 Office One LLC ("Borrower"), a wholly-owned subsidiary of Alexander's, Inc., and Wilmington Trust, National Association, as Trustee, for the Benefit of the Holders of DBCG 2017-BBG Mortgage Trust Commercial Mortgage Pass-Through Certificates, entered into an amendment (the "Amendment") to the Loan Agreement dated June 1, 2017, relating to the $500,000,000 mortgage loan secured by the office portion of the 731 Lexington Avenue property. Pursuant to the Amendment, the maturity of the loan was extended from June 11, 2024 to October 11, 2024 and the interest rate remains at the Prime Rate plus 0.00%. In connection with the Amendment, the Borrower paid down the principal amount of the Mortgage Loan by $10,000,000. Borrower expects to complete a refinancing before the extended maturity date. This disclosure summarizes the material provisions of the Amendment to the Loan Agreement. This summary is qualified in its entirety by reference to the full text of the Amendment, which is filed as an exhibit to this Form 8-K, and the full text of the Loan Agreement dated June 1, 2017, which has been previously filed. Item 2.03 Creation of a Direct Financial Obligations or an Obligation under and Off-Balance Sheet Arrangement of A Registrant The information set forth under Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference to this Item 2.03 Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of factors that could materially affect the outcom
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit No. Description 99.1 Loan Extension and Modification Agreement, dated June 11, 2024, between 731 Office One LLC, as Borrower, and among Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBCG 2017-BBG Mortgage Trust Commercial Mortgage Pass-Through Certificates (together with its successors and assigns), as Lender. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE 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. ALEXANDER'S, INC. (Registrant) By: /s/ Gary Hansen Name: Gary Hansen Title: Chief Financial Officer (duly authorized officer and principal financial and accounting officer) Date: June 11, 2024 3