ITEM 8.01 OTHER EVENTS.
Estimated Value Per Share
On January 26, 2022, the board of directors of Pacific Oak Strategic Opportunity
REIT, Inc. (the "Company") approved an updated estimated value per share of
$9.51. The updated estimated value per share is based on the previous estimated
value per share of $10.68, which was approved on December 2, 2021 less the
special dividend of $1.17, which was approved on December 28, 2021.
Share Redemption Program
In accordance with the Company's share redemption program, except for
redemptions made upon a stockholder's death, "qualifying disability" or
"determination of incompetence" (each as defined in the share redemption
program), the price at which the Company will redeem shares is 95% of the
Company's most recent estimated value per share as of the applicable redemption
date. Upon the death, "qualifying disability" or "determination of incompetence"
of a stockholder, the redemption price will continue to be equal to the
Company's most recent estimated value per share.
Generally, the Company redeems all shares in connection with a stockholder's
death, "qualifying disability" or "determination of incompetence" on the last
business day of each month and redeems all other shares on the last business day
of the quarter.
The redemption price based on the updated estimated value per share of $9.51
will be effective for the January 2022 redemption date, which is January 31,
2022. Excluding redemption requests made upon a stockholder's death, "qualifying
disability" or "determination of incompetence," the redemption price is $9.03
per share. For a stockholder's shares to be eligible for redemption in a given
month or to withdraw a redemption request, the Company must receive a written
notice from the stockholder or from an authorized representative of the
stockholder in good order and on a form approved by the Company at least five
business days before the redemption date.
Dividend Reinvestment Plan
In accordance with its dividend reinvestment plan, at such time as the Company
announces an updated estimated value per share, participants in the dividend
reinvestment plan will acquire shares of common stock under the plan at a price
equal to the updated estimated value per share of the Company's common stock.
The updated estimated value per share of the Company's common stock is $9.51 and
commencing on the next purchase date, which the Company expects to be during the
first quarter of 2022, participants will acquire shares under the dividend
reinvestment plan at $9.51 per share.
If a participant wishes to terminate participation in the dividend reinvestment
plan effective as of the next purchase date, participants must notify the
Company in writing of such decision, and the Company must receive the notice at
least four business days prior to the last business day prior to the next
purchase date.
Share Redemption Program Suspension
On January 26, 2022, the board of directors of the Company approved the
temporary suspension of processing redemptions under the share redemption
program. The temporary suspension will be in effect for January 2022 redemptions
and will resume at the end of February 2022. The temporary suspension will allow
stockholders an opportunity to review the updated estimated value per share.
This will impact redemption requests made in connection with a stockholder's
death, disability or determination of incompetence, but has no impact on
ordinary redemption requests, which are typically made only at quarter end.

                                       1

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses