Pacific Oak REIT to pursue liquidation; gets $905k funding, ousts CEO and Chairman

Pacific Oak Strategic Opportunity REIT, Inc.

Special committee unanimously agreed Jan 12 to pursue plan of liquidation; expects board and stockholder approval soon.
BVI subsidiary to provide up to $905k in funding over three months for working capital and liquidation process.
Advisory agreement with POCA terminated effective Jan 31, 2026; transition period of at least six weeks.
Brian Ragsdale appointed President, CEO, and CFO; Peter McMillan and Keith D. Hall removed and asked to resign from board.
Westdale Asset Management engaged by BVI to manage assets; monthly fee of greater of 2% gross income or $10,000 per property.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Pacific Oak Strategic Opportunity REIT, Inc. entered into BVI Agreement with Pacific Oak SOR (BVI) Holdings, Ltd. valued at up to $905,000 in funding over the next three months (effective 2026-01-23).

Action: entry
Counterparty: Pacific Oak SOR (BVI) Holdings, Ltd.
Value: up to $905,000 in funding over the next three months
Effective: 2026-01-23

Exact text from the filing

the Special Committee approved an agreement between the Company and the BVI, which was entered into on January 23, 2026 (the “BVI Agreement”).

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Source: SEC EDGAR

accession 0001452936-26-000007

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