Pacific Oak Grows Assets Under Management to $3.2 Billion During 2019, Expands Executive Team
January 27, 2020 | Pacific Oak Capital Advisors | Prnewswire.com
LOS ANGELES, Jan. 27, 2020 /PRNewswire/ — Pacific Oak Capital Advisors LLC, a sponsor of commercial real estate-focused alternative investments programs, announced today that the company grew assets under management to approximately $3.2 billion during 2019, its first year of operations. As a result of its rapid growth, the company has expanded its executive management team to include: Brian Ragsdale, executive vice president, transaction management; Jeff Rader, executive vice president, asset management; Michael Potter, senior vice president; and Jason Espiritu, vice president.
As previously announced, during 2019 Pacific Oak was named sponsor and advisor of Pacific Oak Strategic Opportunity REIT, Inc. and Pacific Oak Strategic Opportunity REIT II, Inc. (formerly known as KBS Strategic Opportunity REIT, Inc. and KBS Strategic Opportunity REIT II, Inc.). The company was also named external manager of Keppel Pacific Oak US REIT, which trades on the Singapore Exchange Securities Trading Limits as “KepPacOakREITUSD,” and Pacific Oak Residential Trust, formerly known as Reven Housing REIT, which became a wholly owned subsidiary of Pacific Oak Strategic Opportunity REIT in November. Additionally, other affiliates of the company have successfully launched a number of private investment programs that have acquired hundreds of millions of dollars worth of commercial real estate assets throughout the United States.
“Pacific Oak enjoyed tremendous success in 2019, our first year of operations, and remains on an aggressive growth trajectory heading into 2020,” said Peter McMillan, co-founder of Pacific Oak. “Fortunately, we have longstanding relationships with some of the most experienced professionals in the commercial real estate world and have been able to seamlessly expand our management team to match the exceptional growth of our assets under management.”
