California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KBS Transitions Funds to Focus Solely on Core Assets
Newport Beach, CA-based KBS plans to transfer the management of Strategic Opportunity REIT I, Strategic Opportunity REIT II and Keppel Pacific Oak US REIT, three REITs comprising 40 investments to Pacific Oak Capital Advisors LLC. The decision allows KBS to focus on its core asset portfolios, while Pacific Oak focuses primarily on the opportunistic portfolios.
“When we launched the first opportunistic REIT in 2009, there was a clear and distinct opportunity to capitalize on the dislocation, lack of liquidity, and government intervention that existed in the commercial real estate markets at the time,” says KBS CEO Chuck J. Schreiber, Jr. “The Strategic Opportunity REIT continues to execute on its business plan focusing on opportunistic investments and adding value for its shareholders.”
The transition of advisory services for the REITs will be effective October 31, 2019. The opportunistic portfolios’ asset management team will transition to Pacific Oak Capital Advisors LLC and continue to manage the same portfolios.
For comments, questions or concerns, please contact Dennis Kaiser


