KBS has announced the transfer of the management of Strategic Opportunity REIT I, Strategic Opportunity REIT II and Keppel Pacific Oak U.S. REIT, three real estate investment trusts (REITs) comprising 40 investments, to Pacific Oak Capital Advisors.
The decision allows KBS to focus on its core asset portfolios, while Pacific Oak focuses primarily on the opportunistic portfolios, according to Chuck J. Schreiber Jr., KBS CEO.
“When we launched the first opportunistic REIT in 2009, there was a clear and distinct opportunity to capitalize on the dislocation, lack of liquidity and government intervention that existed in the commercial real estate markets at the time,” said Schreiber. “The Strategic Opportunity REIT continues to execute on its business plan focusing on opportunistic investments and adding value for its shareholders.”
KBS invests and manages commercial real estate assets on behalf of large institutions, such as public and private pension plans,
