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Second Avenue acquires Jacksonville-based Pacific Oak Residential
Transactions - DECEMBER 20, 2024

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Second Avenue acquires Jacksonville-based Pacific Oak Residential

by Released

Second Avenue has acquired Pacific Oak Residential, Inc., a Jacksonville-based property management company overseeing 2,110 single-family homes valued at approximately $400 million. This acquisition expands Second Avenue’s portfolio to 5,300 homes under management and increases its assets under management to $1.5 billion.

The acquisition also extends Second Avenue’s footprint into six additional Midwest states, bringing its total operating presence to 21 states across the United States. The Pacific Oak portfolio complements Second Avenue’s existing properties and further highlights the company’s ability to deliver institutional-quality management and yield optimization.

“This transaction builds on a trusted partnership,” said Michael Gough, president of Pacific Oak Residential, Inc. “In our earlier collaboration managing a 255-home portfolio, Second Avenue increased NOI [net operating income] by approximately 30 percent within seven months,

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