(888) 637-5510

Written by 6:50 pm Blog, Current Investigations

Pacific Oak Strategic Opportunity REIT Suspends Share Redemption Program

Pacific Oak Strategic Opportunity REIT Decrease in Net Asset Value, featured by top securities fraud attorneys, The White Law Group

Concerned about your investment in Pacific Oak Strategic Opportunity REIT? 

The White Law Group continues to investigate potential securities claims involving Pacific Oak Strategic Opportunity REIT. 

Pacific Oak Strategic Opportunity REIT (formerly KBS Strategic Opportunity REIT II), is a non-traded Real Estate Investment Trust (REIT), focused on “dislocation, lack of liquidity, and government intervention” that exists in the commercial real estate markets by acquiring “opportunistic investments” in discounted debt and distressed equity assets.

According to filings with the SEC on January 28, 2022, Pacific Oak announced an estimated NAV per share of $9.51. This reflects a reduction from the previously estimated NAV per share of $10.68 as of September 30, 2021. The company reportedly paid a special dividend of $1.17 on December 28, 2021. Shares were originally sold for $10 per share.  

The company noted that on January 26, 2022, its board of directors approved the temporary suspension of its share redemption program for the month of January 2022 with redemptions anticipated to resume at the end of February 2022. The temporary suspension is to “allow stockholders an opportunity to review the updated estimated value per share.” 

Last year the REIT had 13.9 million shares totaling $128.0 million that were validly tendered for redemption that had gone unredeemed due to limitations of its current share redemption program.  

Outstanding redemption requests represent approximately 15% of total outstanding common stock.  

Non- traded REITs are high risk, complex investments. Lack of liquidity is often problematic for many investors.  Investors looking to sell often have difficulty finding a buyer, and can suffer significant losses on the sale. 

According to Central Trade and Transfer and secondary market for Non-traded REITs, shares of Pacific Oak Strategic Opportunity REIT recently sold for $7.00 per share, which could signify losses for investors.  

How to Recover Investment Losses 

Broker dealers are required to inform clients of the risks associated with investment recommendations and to ensure that those recommendations are suitable for the investor in light of the investor’s age, risk tolerance, net worth, and investment experience. Firms that fail to do so may be held responsible for any losses. 

Filing a Complaint against your Brokerage Firm 

If you have suffered losses investing in Pacific Oak Strategic Opportunity REIT, please contact The White Law Group at 888-637-5510 for a free consultation. 

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. For more information on the firm, visit www.WhiteSecuritiesLaw.com. 

Tags: , , , , , , , , , , , , Last modified: February 11, 2022