Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Pacific Oak Acquires 196 SFRs in Chicago Metro
Pacific Oak Residential Trust, Inc., a wholly owned subsidiary of Pacific Oak Strategic Opportunity REIT, said it had acquired a portfolio of 196 single-family rental homes in Illinois. The Jacksonville, FL-based company didn’t specify locations, but its website lists the Chicago metro area as one of its target markets.
The announcement comes on the heels of the company’s July 1 merger with Battery Point Trust, Inc. Following the Battery Point merger and Illinois asset acquisition, Pacific Oak Residential Trust now owns and manages a portfolio of approximately 1,750 SFR homes throughout the U.S.
“This acquisition marks another step forward in the continued development of Pacific Oak’s single-family residential investment business,” said Jeremy Healy, president of Pacific Oak Residential Trust. “We have already acquired an attractive portfolio of single-family homes and continue to identify potential additions to our rapidly growing asset base.”
Deal terms weren’t disclosed.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
