Strategic Additions Reinforce Pacific Oak’s Drive for Long-Term Value

Pacific Oak Capital Advisors LLC recently acquired two fully leased office properties in Nashville and Denver. The properties were acquired for $105.1 million in two separate transactions and bring the REIT’s portfolio to 15 office buildings and business campuses across nine key growth markets.

“Nashville and Denver are key growth markets with positive economic and office fundamentals as well as significant tech investments,” said Jeff Rader, executive vice president of Pacific Oak Capital Advisors. “The strategic addition of two quality assets in some of the country’s strongest markets reinforces our approach and drive to pursue long-term value that will support KORE’s growth and strengthen distributions to unitholders.”

105 Edgeview is a class-A 186,231-square-foot office building located at the southeast entrance of the technology-centric Interlocken Business Park in Denver. The $59.1 million property is LEED Platinum and serves as the headquarters for Gogo Business Aviation, the inflight internet and entertainment provider.

The second property, Bridge Crossing, is a three-story class-A office building located in Brentwood, TN purchased for $46 million. The fully leased 199,194-square-foot building recently underwent a multi-million-dollar renovation of the lobby, elevators and common areas.