Pacific Oak REIT pursues liquidation with major leadership shakeup

An update from Pacific Oak Strategic Opportunity REIT ( (PCOK) ) is now available.

On January 12, 2026, amid a difficult financial situation and ongoing negotiations with Israeli bondholders, Pacific Oak Strategic Opportunity REIT’s independent directors unanimously decided to pursue a plan of liquidation, subject to board and stockholder approval, and subsequently entered into a series of agreements to restructure management, funding, and governance. Under a January 23, 2026 agreement with its subsidiary Pacific Oak SOR (BVI) Holdings, the REIT will terminate its advisory agreement with Pacific Oak Capital Advisors effective January 31, 2026, while the BVI unit will directly engage Westdale Asset Management to manage most of its assets and R2 Advisors, a firm controlled by the company’s chief accounting officer, to provide accounting, reporting, and corporate support services, with the BVI also committing up to $905,000 in near-term funding to keep the REIT compliant and to support the liquidation process; concurrently, the company hired Brian Ragsdale as president, CEO and CFO, removed Peter McMillan and Keith D. Hall from their executive roles and sought their board resignations, signaling a significant leadership overhaul as it prepares for asset sales and potential bond restructuring.

More about Pacific Oak Strategic Opportunity REIT

Pacific Oak Strategic Opportunity REIT, Inc. is a real estate investment trust that invests in and manages a portfolio of real estate assets, including properties held through subsidiaries such as Pacific Oak SOR (BVI) Holdings, Ltd., with a focus on income-generating and opportunistic real estate investments for its stockholders and bondholders.

Average Trading Volume: 5,378

Technical Sentiment Signal: Sell

Current Market Cap: $142.4M

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