Pacific Oak Strategic Opportunity REIT Inc., a publicly registered non-traded real estate investment trust formerly known as KBS Strategic Opportunity REIT Inc., has declared an estimated net asset value per share of $10.68 for its common stock as of September 30, 2021.
The new NAV per share reflects a 10.33 percent increase compared to last year’s valuation of $9.68 that the board approved in December 2020.
The NAV per share is based on the estimated value of the company’s assets, less the estimated value of its liabilities, divided by the number of outstanding shares, all as of September 30, 2021.
“Our diverse portfolio of well-located, well-managed assets continue to demonstrate resilience and contribute to our strong track record of performance,” said Keith Hall, chief executive officer. “We continue to be optimistic about each of the asset classes the REIT has exposure to and believe 2022 will provide additional opportunities to create value for shareholders.”
The REIT’s conflicts committee, composed of independent directors, engaged Kroll LLC for the appraisals of company’s commercial assets, Colliers International Valuation & Advisory Services LLC for undeveloped land holdings, and HouseCanary Inc. for the valuation of the single-family rental portfolio.
Pacific Oak Capital Advisors LLC, the REIT’s external advisor, performed valuations of the REIT’s other assets and liabilities.
Pacific Oak Strategic Opportunity REIT invests in opportunistic real estate and other real estate-related investments and manages a portfolio valued in excess of $2 billion comprised primarily of office, land, apartment, single-family rental and hotel assets.