Pacific Oak Strategic Opportunity REIT Enters Definitive Agreement
Ticker: PCOK · Form: 8-K · Filed: Dec 20, 2024 · CIK: 1452936
| Field | Detail |
|---|---|
| Company | Pacific Oak Strategic Opportunity Reit, Inc. (PCOK) |
| Form Type | 8-K |
| Filed Date | Dec 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
TL;DR
Pacific Oak REIT signed a big deal, details TBD.
AI Summary
On December 19, 2024, Pacific Oak Strategic Opportunity REIT, Inc. entered into a Material Definitive Agreement. The filing does not disclose specific details of the agreement, the counterparty, or any associated financial figures.
Why It Matters
This filing indicates a significant new contract or partnership for the REIT, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- Pacific Oak Strategic Opportunity REIT, Inc. (company) — Registrant
FAQ
What is the nature of the Material Definitive Agreement entered into by Pacific Oak Strategic Opportunity REIT, Inc.?
The filing states that Pacific Oak Strategic Opportunity REIT, Inc. entered into a Material Definitive Agreement on December 19, 2024, but does not provide specific details about its nature.
Who is the counterparty to this Material Definitive Agreement?
The filing does not disclose the name of the other party involved in the Material Definitive Agreement.
Are there any financial terms or dollar amounts associated with this agreement disclosed in the filing?
No, the filing does not specify any financial terms or dollar amounts related to the Material Definitive Agreement.
When was the Material Definitive Agreement entered into?
The Material Definitive Agreement was entered into on December 19, 2024.
What is the filing date for this 8-K report?
The 8-K report was filed as of December 20, 2024.
Filing Stats: 605 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-12-19 18:54:59
Filing Documents
- pacoaksor-20241219.htm (8-K) — 27KB
- 0001452936-24-000159.txt ( ) — 140KB
- pacoaksor-20241219.xsd (EX-101.SCH) — 2KB
- pacoaksor-20241219_lab.xml (EX-101.LAB) — 20KB
- pacoaksor-20241219_pre.xml (EX-101.PRE) — 11KB
- pacoaksor-20241219_htm.xml (XML) — 3KB
01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT Pacific Oak Strategic Opportunity REIT, Inc. (the "Company") is externally advised by Pacific Oak Capital Advisors, LLC (the "Advisor"). The Advisor manages the Company's day-to-day operations and its portfolio of investments, except for the Company's residential home portfolio. Investment management of the Company's residential home portfolio, held through its subsidiary Pacific Oak Residential Trust, Inc. ("PORT"), is provided by Pacific Oak Residential Advisors, LLC ("PORA"). Property management of the Company's residential home portfolio held through PORT is managed by DMH Realty, LLC ("DMH Realty"). PORA and DMH Realty are wholly owned by Pacific Oak Residential, Inc. ("PORI") which, prior to December 19, 2024, was wholly owned by BPT Holdings LLC ("BPT"), an affiliate of the Advisor. On December 19, 2024, BPT sold all of the equity interests in PORI to Residential Homes For Rent LLC (d/b/a Second Avenue), a Tampa-based full-service single-family rental platform. In connection with the sale, PORT amended the advisory agreement with PORA to extend the term through December 19, 2026 (with one-year renewals available upon the agreement of both parties thereafter) and amended the property management agreement with DMH Realty to amend the term through December 19, 2026 (with automatic one-year renewals thereafter). Other ministerial changes and clarifications were also made in the amendments. In addition, on December 19, 2024, the Company and the Advisor amended the advisory agreement between the Company and the Advisor to no longer refer to PORA as an affiliate of the Advisor. 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: December 19, 2024 BY: /s/ Michael A. Bender Michael A. Bender Chief Financial Officer, Treasurer and Secretary