Pacific Oak Strategic Opportunity REIT, Inc.: debt financing — Pacific Oak Strategic Opportunity REIT enters $80M credit agreement; refinances Series C bonds

Pacific Oak Strategic Opportunity REIT, Inc.

Loan of $80M secured by three properties; SOFR+6.5% per annum with 3.5% floor, interest-only monthly payments.
Approximately $44.8M used to fully repay and delist Series C bonds from Tel Aviv Stock Exchange.
Partial principal repayments: min $45M upon second phase of Park Highlands sale (Dec 2026), min $35M upon third phase.
Credit Agreement termination Dec 1, 2027 (or Mar 1, 2028 if Park Highlands sale not completed); 4% voluntary prepayment exit fee.
Guarantors provide full recourse until Series B/D bonds extended; thereafter limited to bad-boy guarantees.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Pacific Oak Strategic Opportunity REIT, Inc. incurred credit facility of $80.0 million with Whitehawk Capital Partners LP at SOFR + 6.5% per annum, with a floor of 3.5% on the SOFR rate maturing the earlier of (a) December 1, 2027, or, if the sale of the third and final phase of the Park Highlands land has not been completed by such time (the “Park High.

Instrument: credit facility
Principal: $80.0 million
Counterparty: Whitehawk Capital Partners LP
Rate: SOFR + 6.5% per annum, with a floor of 3.5% on the SOFR rate
Maturity: the earlier of (a) December 1, 2027, or, if the sale of the third and final phase of the Park Highlands land has not been completed by such time (the “Park High
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a loan in the aggregate principal amount of $80.0 million (the “Loan”), secured by the Borrowers’ ownership interests in three properties

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Source: SEC EDGAR

accession 0001452936-25-000080

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