Item 1.02 Termination of a Material Definitive Agreement.

On March 29, 2020, Highlands REIT, Inc. (the "Company") repaid in full all of the remaining outstanding indebtedness under the secured revolving credit facility ("Revolving Credit Facility") pursuant to that certain Credit Agreement, dated as of February 15, 2019, by and among the Company, as borrower, and certain of its subsidiaries, as guarantors, The Huntington National Bank, individually and as administrative agent, issuing lender, lead arranger, book manager and syndication agent, and the other lenders thereunder (the "Credit Agreement"), consisting of approximately $15 million of principal plus accrued and unpaid interest thereon. The Credit Agreement and related security interests, and all commitments thereunder, were terminated in conjunction with such payment in full. The Revolving Credit Facility would have matured on February 15, 2022. No early termination penalties applied with respect to such voluntary prepayment in full prior to maturity.

The material terms of the Credit Agreement, and certain defaults of the Company thereunder, are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on March 17, 2021. The foregoing descriptions of the Credit Agreement do not purport to be complete and are subject to and qualified in their entirety by reference to the full text of the Credit Agreement, which was filed as Exhibit 10.1 to the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on February 21, 2019, the first amendment to the Credit Agreement, which was filed as Exhibit 10.15 to the Company's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on March 20, 2020, the second amendment to the Credit Agreement, which was filed as Exhibit 10.16 to the Company's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on March 20, 2020, and the third amendment to the Credit Agreement, which was filed as Exhibit 10.1 to the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on November 12, 2020, each of which is incorporated by reference herein.

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