Every 8-K that PACIFIC OAK STRATEGIC OPP (PCOK) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow PCOK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PCOK filings page.
Pacific Oak Strategic Opportunity REIT, Inc. (PCOK), through wholly owned subsidiary Pacific Oak SOR (BVI) Holdings, Ltd., reported IFRS interim results for the three and six months ended June 30, 2026 showing severe financial stress. The BVI group generated $51.6 million in total revenues for the first half of 2026 but recorded a net loss of $118.8 million, after large fair value write-downs on investment properties of $41.6 million and equity losses from joint ventures of $25.8 million.
Total assets were $905.8 million and total liabilities $943.8 million, resulting in a shareholders’ deficit of $38.0 million. Management disclosed a $553.2 million working capital shortfall at the operating group, driven by $327.5 million of Series B and D bonds and other loans maturing within 12 months, and stated there are significant doubts about the Company’s ability to continue as a going concern. The Series Bonds’ covenants are breached, with Net Adjusted Debt to Net Adjusted Cap at 103% versus a 75% limit, and the group is operating under a standstill agreement while a court-approved Debt Arrangement awaits final conditions.
During 2026 the group completed a $216.0 million refinancing of the PORT single-family rental portfolio and a lender-directed sale of the Lincoln Court property, producing a $9.4 million gain on extinguishment of debt, but also received default notices from creditors and disclosed multiple ongoing negotiations and legal matters, including a class action petition and bondholder and lender claim letters, for which outcomes and potential losses cannot currently be estimated.
Pacific Oak Strategic Opportunity REIT, Inc. reported major leadership changes. On June 15, 2026, four directors — Laurent Degryse, William Petak, Keith Hall and Peter McMillan III — resigned from the board, and on June 18, 2026, Kenneth Yee appointed Bradley E. Scher as Chairman, director, President and Chief Executive Officer, after which Mr. Yee also resigned from the board. The company states that none of the resignations involved a disagreement with the company.
Mr. Scher, age 65, is the founder and managing member of Ocean Ridge Capital Advisors, with extensive experience leading and advising companies facing financial challenges and serving on numerous boards. The company entered into an engagement letter with Ocean Ridge under which it will pay $5,000 per month for Mr. Scher’s service as President and Chief Executive Officer and $7,500 per month for his service as Chairman and director, plus reimbursement of reasonable out-of-pocket expenses, and has provided an indemnification agreement. The company also notified Chief Financial Officer Brian Ragsdale that his contract will not be renewed and will terminate effective August 11, 2026; he will remain CFO until then.
Pacific Oak Strategic Opportunity REIT, Inc. reports court approval of a comprehensive debt arrangement for its indirect subsidiary, Pacific Oak SOR (BVI) Holdings, Ltd., and a related funding framework called the Second Loan. The Tel Aviv–Jaffa District Court approved amendments to the BVI’s Series B and Series D bonds, keeping principal amounts unchanged but restructuring maturity, interest rates, security and enforcement terms.
The bonds now bear interest of 11.0% annually until the Completion Date, then 11.5%, with principal and interest due in a single payment on June 30, 2028. The arrangement adds first-priority security over most unencumbered BVI assets, a minimum liquidity reserve and strict limits on new debt, distributions and general and administrative expenses. A separate Second Loan permits, but does not require, the BVI to advance up to a budgeted amount of operational funding to the REIT and its operating partnership, subject to BVI board discretion and bondholder oversight.
Pacific Oak Strategic Opportunity REIT has dismissed Ernst & Young as its independent auditor, with the board stating there were no disagreements or adverse opinions in recent years. Ernst & Young’s response letter is attached as an exhibit.
The company’s Israeli subsidiary BVI is pursuing a court-supervised debt arrangement for its Series B and Series D bonds, with a creditor meeting ordered but not yet scheduled. The board has dissolved the audit committee and no longer plans to file Form 10‑K or Form 10‑Q, instead providing quarterly financial statements of BVI under IFRS. The board will not currently seek stockholder approval of a liquidation plan or update its estimated net asset value per share, and independent directors have waived all accrued and future fees to reduce expenses.
Pacific Oak Strategic Opportunity REIT, Inc. reported that it and its operating partnership received a default notice from former advisor Pacific Oak Capital Advisors, LLC regarding a $10.0 million related party loan dated July 14, 2025. The advisor’s notice alleges no interest has been paid, claims the loan is in default with all principal and interest now due, and states that default interest is accruing and more collateral is required under a pledge agreement. The company is reviewing payments made to the advisor since the loan was issued and expressly reserves its rights to dispute that any default has occurred.
Pacific Oak Strategic Opportunity REIT, Inc. is moving toward a wind-down. A special committee of independent directors has unanimously agreed to pursue a plan of liquidation, subject to board and stockholder approval. The company cites a difficult financial situation, a prior standstill with bondholders of its BVI subsidiary and ongoing Israeli bondholder negotiations.
Under a new agreement with its BVI subsidiary, the advisory contract with Pacific Oak Capital Advisors will end on January 31, 2026, and the BVI will instead engage Westdale Asset Management to manage assets and R2 Advisors to provide accounting and reporting support. The BVI has agreed to provide the company with up to $905,000 over three months to cover working capital, regulatory compliance and costs tied to pursuing liquidation.
The board has also overhauled leadership. Brian Ragsdale has been appointed President, Chief Executive Officer and Chief Financial Officer for total compensation of $60,000 through the filing of the March 31, 2026 Form 10‑Q, while prior leaders Peter McMillan and Keith D. Hall have been removed from their executive roles and asked to resign from the board.
Pacific Oak Strategic Opportunity REIT, Inc. reports that its board’s special committee is continuing to explore strategic alternatives with the help of financial advisor Robert A. Stanger & Co., Inc., amid a difficult liquidity situation and negotiations with Israeli bondholders.
The company, which is in default on its Series B and D bonds issued by its BVI subsidiary and on the majority of its other loans, has decided not to publish its customary December estimate of per share net asset value while this review is underway. It explains that custodians may show little or no value, such as $0.01 per share, on account statements and cautions that, depending on the outcome of lender negotiations and other factors, stockholders may ultimately not realize any future value from their shares.
Pacific Oak Strategic Opportunity REIT, Inc. reported that its wholly owned subsidiary, Pacific Oak SOR (BVI) Holdings, Ltd., has filed interim financial statements in Israel related to bonds offered there since February 2020. Because those Series B and D bonds were registered with the Israel Securities Authority, the BVI subsidiary must prepare financial statements under International Financial Reporting Standards (IFRS).
On November 30, 2025, the BVI subsidiary filed IFRS consolidated and separate interim financial statements for the three and nine months ended September 30, 2025. English translations of these consolidated and separate statements are being made available as Exhibits 99.1 and 99.2. The company notes that this information is being furnished, not filed, to the SEC, which limits how it is treated under U.S. securities laws.
Pacific Oak Strategic Opportunity REIT, Inc. announced governance steps tied to its difficult financial situation. On October 14, 2025, the board formed a Special Committee of all independent directors to explore strategic alternatives. On November 3, 2025, the Special Committee engaged Robert A. Stanger & Co., Inc. as financial advisor to assist with this process.
The actions follow a standstill agreement entered in August 2025 with the trustee for holders of bonds issued by subsidiary Pacific Oak SOR (BVI) Holdings, Ltd., and ongoing negotiations with Israeli bondholders.
Pacific Oak Strategic Opportunity REIT, Inc. renewed its advisory agreement with Pacific Oak Capital Advisors, LLC effective November 1, 2025. The agreement runs for an initial one-month term and automatically renews for successive one-month periods until November 1, 2026, consistent with exceptions to payment restrictions in the August 2025 standstill agreement tied to bonds issued by subsidiary Pacific Oak SOR (BVI) Holdings, Ltd.
Either party may terminate the agreement without cause or penalty at the end of any monthly term by providing notice, with the Company acting through its conflicts committee. The agreement will also end on the date the Company ceases to be subject to the August 2025 standstill, if that occurs before November 1, 2026. Other terms remain consistent with the prior advisory agreement.