Pacific Oak Capital Advisors Completes DST Offering of Multifamily Property in the Permian Basin

LOS ANGELES, Jan. 16, 2020 /PRNewswire/ -- Pacific Oak Capital Advisors, a national sponsor of value-add alternative investments, including tax-advantaged Delaware statutory trust offerings, announced today that its first DST offering, Meridian Apartment Homes, DST has been fully subscribed by 108 Section 1031 exchange investors. The DST offering raised approximately $28.3 million to acquire the 280-unit, garden-style multifamily community in Midland, Texas.

"Meridian Apartment Homes is an example of the high-quality properties we intend to offer at Pacific Oak," said Keith Hall, co-founder of Pacific Oak. "Located in the midst of the Permian Basin, Midland, Texas is a modern-day oil boomtown experiencing significant population growth and housing demand. As a result, Meridian Apartment Homes is one of the area's most popular multifamily rental communities, which enjoys high occupancy and attractive cash flow.

"Building on the market rent growth of 25.5 percent that occurred between the second quarter 2017 and the second quarter 2018, according to CBRE, the nation's leading commercial real estate services firm, the community enjoyed the stability of 95.4 percent occupancy at the time of acquisition.

Located at 4400 North Holiday Hill Road, Meridian Apartments was built in 1983. Its one- and two-bedroom units range in size from 718 square feet to 1,073 square feet. Community amenities include a swimming pool, hot tub, business center with internet access, playground, clubhouse, laundry facility and fitness center. Each unit features a full Whirlpool appliance package, private patios or balconies and most units also have fireplaces.

 About Pacific Oak Capital Advisors Pacific Oak Capital Advisors is an alternative investment asset management company that focuses on sponsoring and distributing financial products that provide quality investment opportunities to financial advisors, registered investment advisors, institutional investors and high net-worth clients. Pacific Oak is driven by its mission to pursue opportunity through a broad range of real estate investments and to develop and manage these investment opportunities for the benefit of our clients, including our investors, joint venture partners, tenants, associates and communities. Our investment professionals are dedicated to matching capital with opportunities that produce above-market results and growth through real estate, private equity, and other alternative investment product offerings. Pacific Oak and its affiliated companies currently manage a portfolio of real estate valued in excess of $3.X billion.

About Pacific Oak Capital Advisors

Pacific Oak Capital Advisors is an alternative investment asset management company that focuses on sponsoring and distributing financial products that provide quality investment opportunities to financial advisors, registered investment advisors, institutional investors and high net-worth clients.

Pacific Oak is driven by its mission to pursue opportunity through a broad range of real estate investments and to develop and manage these investment opportunities for the benefit of our clients, including our investors, joint venture partners, tenants, associates and communities. Our investment professionals are dedicated to matching capital with opportunities that produce above-market results and growth through real estate, private equity, and other alternative investment product offerings. Pacific Oak and its affiliated companies currently manage a portfolio of real estate valued in excess of $3.X billion.


Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act.  These forward-looking statements include, but are not limited to, statements regarding SOR's intention to consolidation of the residential investment business within PORT, and statements containing words such as "anticipate," "approximate," "believe," "plan," "estimate," "expect," "project," "could," "would," "should," "will," "intend," "may," "potential," "upside," and other similar expressions.  All statements in this Current Report that are not historical facts are forward-looking statements that reflect the best judgment of the Company based upon currently available information.

Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from the Company's expectations as a result of a variety of factors, including, without limitation, those discussed below.  Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause its actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These statements involve risks, uncertainties and other factors discussed below and detailed from time to time in the Company's filings with the SEC.

Risks and uncertainties related to the proposed consolidation of the of the residential investment business within PORT include, but are not limited to, adverse effects on the Company's stock price resulting from the announcement of the proposed consolidation, competitive responses to the announcement of the proposed consolidation, and any changes in general economic and/or industry-specific conditions.

In addition to the factors set forth above, other factors that may affect the Company's plans, results or stock price are set forth in its most recent Annual Report on Form 10-K and in its subsequently filed reports on Forms 10-Q and 8-K.

Many of these factors are beyond the Company's control.  The Company cautions investors that any forward-looking statements made by it are not guarantees of future performance.  The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.

About Pacific Oak Companies

Pacific Oak Companies is comprised of Pacific Oak Capital Advisors LLC, Pacific Oak Capital Markets Group LLC, and Pacific Oak Holdings LLC. Collectively, Pacific Oak will create, advise and distribute commercial real estate investment opportunities to individual investors via the independent broker-dealer and registered investment advisor channels. Pacific Oak was founded by Keith Hall and Peter McMillan III, two of the co-founders of KBS Capital Advisors LLC.  Over the course of their careers, they have collectively participated in the acquisition and disposition of more than $175 Billion in transactions. For more information regarding Pacific Oak Companies, please visit www.pac-oak.com.

Please contact Pacific Oak Investor Relations:   

Mark Koshan
Due Diligence Manager

(866) 722-6257

[email protected]

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