{"url_path":"/sec/dea/8-k/2026-06-30/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-30","source_url":"https://www.sec.gov/Archives/edgar/data/1622194/0001193125-26-289476-index.html","accession_number":"0001193125-26-289476","cik":"0001622194","ticker":"DEA","issuer_name":"Easterly Government Properties, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1622194/0001193125-26-289476-index.html","primary_entity_key":"0001622194","primary_entity_name":"Easterly Government Properties, Inc."},"word_count":603,"has_tables":true,"body_markdown":"## Item 1.01 Entry into a Material Definitive Agreement.\n\n2026 Term Loan Agreement\n\n \n\nOn June 25, 2026, Easterly Government Properties, Inc. (the “Company”), its operating partnership, Easterly Government Properties LP (the “Operating Partnership”), and certain subsidiaries of the Operating Partnership entered into a term loan agreement (the “2026 Term Loan Agreement”) with PNC Bank, National Association, as administrative agent, U.S. Bank National Association and Truist Bank, as syndication agents, U.S. Bank National Association, PNC Capital Markets LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC, as joint lead arrangers, and U.S. Bank National Association, PNC Capital Markets LLC and Truist Securities, Inc., as joint bookrunners, and the initial lenders named therein (collectively, the “Lenders”).\n\n \n\nThe 2026 Term Loan Agreement provides for a $200.0 million senior unsecured term loan, which includes an accordion feature that provides the Company with additional capacity, subject to the satisfaction of customary terms and conditions, of up to $50.0 million for a total facility size of $250.0 million (the “2026 Term Loan”). The 2026 Term Loan will mature in June 2031.\n\n \n\nBorrowings under the 2026 Term Loan will, at the Operating Partnership’s option, bear interest at floating rates equal to either (i) a fluctuating rate equal to the sum of (a) the highest of (x) PNC Bank’s base rate, (y) the federal funds effective rate plus 0.50% and (z) the one-month adjusted term secured overnight financing (“SOFR”) rate plus 1.00%, plus, in each case, (b) a margin ranging from 0.20% to 0.70% based on the Company’s leverage ratio, (ii) the daily simple SOFR (the “DSS”), or (iii) the term SOFR (the “Term SOFR”), plus, in the case of borrowings bearing interest at DSS or Term SOFR, a margin ranging from 1.20% to 1.70% based on the Company’s leverage ratio.\n\n \n\nThe 2026 Term Loan Agreement also contains certain customary covenants, including but not limited to financial covenants that require the Company to maintain maximum ratios of consolidated total indebtedness, consolidated secured indebtedness and consolidated secured recourse indebtedness to total asset value, and a minimum consolidated fixed charge ratio.\n\n \n\nThe Operating Partnership’s obligations under the 2026 Term Loan Agreement are initially fully and unconditionally guaranteed by the Company and certain of their subsidiaries.\n\n \n\nEleventh Amendment to 2016 Term Loan Agreement\n\n \n\nOn June 25, 2026, the Company, the Operating Partnership, and certain subsidiaries of the Operating Partnership entered into an eleventh amendment (the “Eleventh Amendment”) to its senior unsecured term loan agreement, dated as of September 29, 2016 (as amended, the “2016 Term Loan Agreement”), with PNC Bank, National Association, as administrative agent and a lender, and U.S. Bank National Association and Truist Bank, as lenders.\n\nThe Eleventh Amendment removes the credit spread adjustment applicable to SOFR-based borrowings under the 2016 Term Loan Agreement, consistent with the 2026 Term Loan Agreement. Other than the foregoing, the material terms of the 2016 Term Loan Agreement remain unchanged.\n\nCertain of the banks and financial institutions that are parties to the 2026 Term Loan Agreement and/or the Eleventh Amendment and their respective affiliates have in the past provided, are currently providing, and in the future may continue to provide investment banking, commercial banking and other financial services to the Company and its affiliates in the ordinary course of business for which they have received and will receive customary compensation.\n\nThe foregoing description of the 2026 Term Loan Agreement and the Eleventh Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the 2026 Term Loan Agreement and the Eleventh Amendment, which are filed as Exhibits 10.1 and 10.2 hereto, respectively, and are incorporated herein by reference."}