Pacific Oak REIT Disposes of Assets
Ticker: PCOK · Form: 8-K · Filed: Oct 9, 2024 · CIK: 1452936
| Field | Detail |
|---|---|
| Company | Pacific Oak Strategic Opportunity Reit, Inc. (PCOK) |
| Form Type | 8-K |
| Filed Date | Oct 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $223.1 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: asset-disposition, real-estate, portfolio-management
TL;DR
Pacific Oak REIT just sold off some assets, signaling a portfolio change.
AI Summary
On October 3, 2024, Pacific Oak Strategic Opportunity REIT, Inc. completed the disposition of certain assets. The filing does not specify the buyer or the exact dollar amount of the transaction, but it marks a significant event for the company's portfolio management.
Why It Matters
This disposition indicates a strategic shift in Pacific Oak REIT's asset management, potentially impacting its future revenue streams and investment focus.
Risk Assessment
Risk Level: medium — Dispositions of assets can signal strategic changes or financial pressures, requiring investors to assess the implications for the REIT's future performance.
Key Players & Entities
- Pacific Oak Strategic Opportunity REIT, Inc. (company) — Registrant
- October 3, 2024 (date) — Date of earliest event reported
- Maryland (jurisdiction) — State of incorporation
- 11766 Wilshire Blvd., Suite 1670 (address) — Principal executive offices
- Los Angeles, California 90025 (address) — Principal executive offices
FAQ
What specific assets were disposed of by Pacific Oak Strategic Opportunity REIT, Inc.?
The filing states the disposition of "certain assets" but does not provide specific details about the nature or identity of these assets.
Who was the buyer of the disposed assets?
The filing does not disclose the identity of the purchaser of the assets.
What was the financial impact of this asset disposition on Pacific Oak REIT?
The filing does not provide specific financial figures, such as the sale price or net proceeds, related to the disposition.
When did the disposition of assets occur?
The earliest event reported in the filing, related to the disposition, occurred on October 3, 2024.
Is this disposition part of a larger strategic plan for Pacific Oak REIT?
While the filing indicates a completion of asset disposition, it does not explicitly detail the broader strategic implications or plans.
Filing Stats: 450 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-10-09 17:26:06
Key Financial Figures
- $223.1 m — , for aggregate gross sales proceeds of $223.1 million, before closing costs, taxes, rei
Filing Documents
- pacoaksor-20241003.htm (8-K) — 26KB
- 0001452936-24-000135.txt ( ) — 138KB
- pacoaksor-20241003.xsd (EX-101.SCH) — 2KB
- pacoaksor-20241003_lab.xml (EX-101.LAB) — 20KB
- pacoaksor-20241003_pre.xml (EX-101.PRE) — 11KB
- pacoaksor-20241003_htm.xml (XML) — 3KB
01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS Park Highlands Sales On October 3, 2024, Pacific Oak Strategic Opportunity REIT, Inc. (the "Company"), through a wholly owned subsidiary, closed on the final phase of three transactions to sell a total of 501 developable acres of land in North Las Vegas, Nevada to buyers unaffiliated with the Company or the Company's advisor, Forestar (USA) Real Estate Group Inc., through itself and/or a wholly owned subsidiary, and D.R. Horton, Inc., for aggregate gross sales proceeds of $223.1 million, before closing costs, taxes, reimbursements and credits. 1
SIGNATURES
SIGNATURES 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. PACIFIC OAK STRATEGIC OPPORTUNITY REIT, INC. Dated: October 9, 2024 BY: /s/ Michael A. Bender Michael A. Bender Chief Financial Officer, Treasurer and Secretary