Pacific Oak Residential Trust, a wholly owned subsidiary of Pacific Oak Strategic Opportunity REIT, has acquired a portfolio of 196 single-family rental homes in Illinois.
The announcement comes on the heels of the company’s July 1 merger with Battery Point Trust. Following the Battery Point merger and Illinois asset acquisition, Pacific Oak Residential Trust now owns and manages a portfolio of approximately 1,750 single-family rental homes located throughout the United States.
“This acquisition marks another step forward in the continued development of Pacific Oak’s single-family residential investment business,” said Jeremy Healy, president of Pacific Oak Residential Trust. “We have already acquired an attractive portfolio of single-family homes and continue to identify potential additions to our rapidly growing asset base.”
Peter McMillan, president and chairman of Pacific Oak Strategic Opportunity REIT, added, “The single-family rental home sec