July 24, 2020
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.
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