secwatch.observer — SEC 8-K summary
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Issuer:     Pacific Oak Strategic Opportunity REIT, Inc. (—)
CIK:        0001452936
Form:       8-K
Filed at:   2023-09-01T23:59:59+00:00
Accession:  0001452936-23-000074
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Pacific Oak SOR REIT refinances four properties into $188M secured facility with Bank of America
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- Aggregate principal $188.0M; replaces four existing loans; no net proceeds (used to repay prior debt).
- Interest at 1-month BSBY + 275 bps; initial maturity Sept 1, 2026 with two 1-year extension options.
- Monthly amortization $0.7M; required paydowns of $10M each due Dec 2023 and Dec 2024; $10M paydown at closing.
- Loan secured by properties in Newark, Minneapolis, Oakland, and Austin; cross-collateralized with customary covenants.
- Guarantor (Pacific Oak SOR Properties, LLC) backs specified paydowns, event-of-default principal, and environmental indemnity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1452936/000145293623000074/0001452936-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1452936/000145293623000074/pacoaksor-20230828.htm
  HTML page:      https://secwatch.observer/filing/0001452936-23-000074

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