Pacific Oak Strategic Opportunity REIT, Inc’s Merger with POSOR II

Morrison & Foerster advised the special committee of the board of directors of Pacific Oak Strategic Opportunity REIT, Inc. (POSOR I) in its strategic merger with Pacific Oak Strategic Opportunity REIT II, Inc. (POSOR II).

The companies announced that they entered into a definitive agreement to merge in a stock-for-stock transaction, which will create a combined company with approximately $2.6 billion in gross real estate and real estate-related assets. The transaction is expected to close in the second half of 2020, after which the combined company will retain the name “Pacific Oak Strategic Opportunity REIT, Inc.”

POSOR I and POSOR II are public, non-traded corporations headquartered in Los Angeles, California, that qualify as real estate investment trusts and invest in opportunistic real estate and other real estate-related investments. Anticipated benefits of the merger include the diversification and risk reduction of the company’s portfolio, among other benefits.

The MoFo deal team was led by corporate and REIT partner Heath Linsky (Picture), corporate and REIT associate Mary Katherine Rawls, and corporate associate Fred Muna.

Involved fees earner: Heath Linsky – Morrison Foerster; Mary Katherine Rawls – Morrison Foerster;

Law Firms: Morrison Foerster;

Clients: Pacific Oak Strategic Opportunity REIT ;

Author: Ambrogio Visconti