secwatch.observer — SEC 8-K summary
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Issuer:     Pacific Oak Strategic Opportunity REIT, Inc. (—)
CIK:        0001452936
Form:       8-K
Filed at:   2026-05-14T21:26:25+00:00
Accession:  0001452936-26-000026
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pacific Oak Strategic Opportunity REIT secures $216M loan on SFR portfolio; CEO & advisor compensation cut
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1452936/000145293626000026/0001452936-26-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1452936/000145293626000026/pacoaksor-20260508.htm
  HTML page:      https://secwatch.observer/filing/0001452936-26-000026

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