Pacific Oak Expands Executive Team with Latest Hires
Pacific Oak Capital Advisors LLC, a sponsor of commercial real estate-focused alternative investments programs, has expanded its executive management team.
Pacific Oak Capital Advisors LLC, a sponsor of commercial real estate-focused alternative investments programs, has expanded its executive management team to include Brian Ragsdale, executive vice president of transaction management; Jeff Rader, executive vice president of asset management; Michael Potter, senior vice president; and Jason Espiritu, vice president. Each of the new executive hires joined Pacific Oak from KBS Capital Advisors.
During 2019, its first year of operations, the company grew assets under management to approximately $3.2 billion. As previously reported, last year Pacific Oak was named sponsor and advisor of Pacific Oak Strategic Opportunity REIT Inc. and Pacific Oak Strategic Opportunity REIT II Inc., formerly known as KBS Strategic Opportunity REIT Inc. and KBS Strategic Opportunity REIT II Inc., respectively.
Pacific Oak was also named external manager of Keppel Pacific Oak US REIT, which trades on the Singapore Exchange Securities Trading Limits as “KepPacOakREITUSD,” and Pacific Oak Residential Trust, formerly known as Reven Housing REIT, which became a wholly-owned subsidiary of Pacific Oak Strategic Opportunity REIT in November.
Additionally, other affiliates of the company have launched a number of private investment programs that have acquired hundreds of millions of dollars worth of commercial real estate assets throughout the United States.
As executive vice president of transaction management, Ragsdale is responsible for all origination and underwriting of loans, both by Pacific Oak Capital Advisors and those purchased from third parties. He has more than 22 years of experience in originating and negotiating commercial real estate mortgage loans and identifying equity acquisition opportunities.
Prior to joining Pacific Oak Capital Advisors, he was vice president of mortgage lending and real estate at AIG Global Investment Corp. where he was responsible for the supervision of the investment management department associated with AIG’s $13 billion, 1,500-square-foot loan portfolio. Previously, Ragsdale was senior vice president of client portfolio management for Trammell Crow Company, and he was vice president of asset and portfolio management for PM Realty Advisors.
As executive vice president of asset management, Rader is responsible for the acquisition, asset management and disposition of numerous Pacific Oak investments located across the United States for Pacific Oak Strategic Opportunity REIT I and Pacific Oak Strategic Opportunity REIT II. Previously at KBS, Rader underwrote, originated, purchased and managed debt investments for KBS REIT I, KBS REIT II and KBS REIT III.
As senior vice president, Potter oversees and directs the origination, underwriting, financing and closing activities for acquisitions and joint venture opportunities. Prior to joining the firm, he served as vice president for KBS Capital Advisors for more than seven years, where he was responsible for the origination and underwriting of direct acquisitions, joint ventures and loans in KBS Strategic Opportunity REIT I and II.
Prior to joining Pacific Oak, Espiritu served as associate vice president for KBS Capital Advisors for five years, and prior to that, he served as an acquisitions analyst for the Bascom Group, a buyer and operator of multifamily communities in the United States. Espiritu began his career as a civil engineer, working for AECOM, a Fortune 500, multinational engineering firm and Stantec, a $4.3 billion revenue, Canada-based engineering company.
Pacific Oak and its affiliates facilitate the acquisition, disposition and management of commercial real estate and commercial real estate-related investment products. The firm’s investment offerings include tax-advantaged Delaware statutory trusts and qualified opportunity zone funds, real estate investment trusts, as well as other value-add alternative investment products.
