LOS ANGELES — Los Angeles-based Pacific Oak Strategic Opportunity REIT has completed its previously announced merger with Pacific Oak Strategic Opportunity REIT II in a stock-for-stock transaction, creating a combined company with more than $2 billion in gross real estate and real estate-related assets.
The new company has retained the name Pacific Oak Strategic Opportunity REIT.
“We believe the merger creates a stronger and more robust company, and provides significant benefits to stockholders, including improved access to capital markets and reduced operating costs,” says Keith Hall, CEO and a director of Pacific Oak Strategic Opportunity REIT.
Houlihan Lokey acted as financial advisor to Pacific Oak Strategic Opportunity REIT’s special committee of the board of directors and SunTrust Robinson Humphrey acted as financial advisor to Pacific Oak Strategic Opportunity REIT II’s special committee of board of directors. Morrison & Foerster LLP, Rogers & Hardin LLP and DLA Piper LLP (US) served as legal counsel in the transaction.