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Pacific Oak Capital Advisors Buys Portfolio of Seven Single-Family Homes

Pacific Oak Capital Advisors LLC, a sponsor of alternative investment programs, has purchased seven single-family homes in the Memphis suburb of Southaven, Mississippi for approximately $1.1 million.

Pacific Oak Capital Advisors LLC, a sponsor of alternative investment programs, has purchased seven single-family homes in the Memphis suburb of Southaven, Mississippi for approximately $1.1 million. With this latest portfolio acquisition, Pacific Oak and its affiliates now own and manage approximately 1,800 homes throughout suburban centers in the Midwest and Southeast.

The built-to-rent homes were completed in 2020 and are 10 minutes south of downtown Memphis. The company said that the homes were constructed by a Tennessee homebuilder that is its strategic partner in the submarket and represents an extension of its prior investments in both Southaven and the broader Memphis submarket.

“Our single-family strategy is focused on identifying vibrant markets with a diversified economy, strong job market and a population that favors renting,” said Ben Aitkenhead, managing director of Pacific Oak Capital Advisors. “Nearly 40 percent of the people living in and around Memphis are between the ages of 20 and 49 years of age, which is a prime demographic for rental property, and we see strong demand from aging millennials with a preference for newly constructed homes.”

Pacific Oak and its affiliates focus their single-family investment efforts on housing for median-income families who prefer to rent their homes, rather than own. These homes typically include three bedrooms and two bathrooms with more than 1,000 square feet of living space.

Pacific Oak Capital Advisors is an alternative investment company that sponsors and manages real estate-based investment opportunities for clients of financial advisors and registered investment advisors as well as institutional investors.

Formed in 2018, the company is advisor to Pacific Oak Strategic Opportunity REIT and Keppel-Pacific Oak REIT, and sponsor to numerous private real estate investment programs. In total, Pacific Oak Capital Advisors and its affiliated companies currently manage a diverse portfolio of real estate valued in excess of $3.5 billion.

For more Pacific Oak news, click here to visit their directory sponsor page.