Pacific Oak Strategic Opportunity REIT, Inc.: debt financing — Pacific Oak Strategic Opportunity REIT secures $216M loan on SFR portfolio; CEO & advisor compensation cut

Pacific Oak Strategic Opportunity REIT, Inc.

$216M floating-rate loan secured by single-family rental properties; SOFR+4.75%, floor 7.75%, interest-only, matures Aug 2027 with two 6-month extensions.
Mandatory sale of at least 150 properties within first 6 months, then 100 per quarter; loan-to-value covenant ≤65%.
CEO Brian Ragsdale's compensation reduced to $5,000/month from prior $60,000 quarterly rate; catch-up payment of $15,000.
R2 Advisors management fee cut to $10,000/month from $15,000/month; month-to-month term.
Loan proceeds refinanced existing debt, funded $10M interest reserve, $4M distribution to PORT at closing with additional $4M in six months.

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 loan of up to $216 million with KM PORT US Financing US LP, PORT 2026-04 Lender, LLC and other co-lenders at one-month SOFR plus 4.75% per annum, subject to a floor rate of 7.75% per annum maturing August 8, 2027.

Instrument: loan
Principal: up to $216 million
Counterparty: KM PORT US Financing US LP, PORT 2026-04 Lender, LLC and other co-lenders
Rate: one-month SOFR plus 4.75% per annum, subject to a floor rate of 7.75% per annum
Maturity: August 8, 2027
Event: incurrence

Exact text from the filing

The Loan Agreement provides for a loan in the maximum aggregate principal amount of up to $216 million (the “Loan”), secured by a portfolio of single-family residential rental properties (the “Properties”) owned by the Borrowers, which was fully funded on May 8, 2026 (the “Closing Date”).

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

Pacific Oak Strategic Opportunity REIT, Inc. entered into Loan Agreement with KM PORT US Financing US LP, PORT 2026-04 Lender, LLC and other co-lenders valued at up to $216 million (effective 2026-05-08).

Action: entry
Agreement: credit facility
Counterparty: KM PORT US Financing US LP, PORT 2026-04 Lender, LLC and other co-lenders
Value: up to $216 million
Effective: 2026-05-08

Exact text from the filing

On May 8, 2026, Reven Housing Funding 1, LLC, Reven Housing Funding 2, LLC, BPDM Properties 2018-1 LLC and PORTII Properties 2020-1 LLC (together, the “Borrowers”) and Pacific Oak Residential Trust Inc. (“PORT”), entered into a loan agreement (the “Loan Agreement”) with KM PORT US Financing US LP, PORT 2026-04 Lender, LLC and other co-lenders (collectively, the “Lenders”) as lenders and KM PORT US Financing US LP (“Administrative Agent”), as administrative agent.

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Source: SEC EDGAR

accession 0001452936-26-000026

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