Pacific Oak Capital's Sawtelle headquarters.

Pacific Oak Capital's Sawtelle headquarters.

Sawtelle-based Pacific Oak Capital Advisors has closed two credit facilities that will allow the investment company to provide up to $120 million in financing for single-family rental properties.

An affiliate of MetLife Investment Management was the lead lender for both credit facilities.

“The team at MetLife Investment Management helped us finance our business for the next five years while providing critical flexibility to help manage our business,” Ben Aitkenhead, Pacific Oak Capital Advisors’ managing director, said in a statement. “We are pleased to be partner(ed) with such a highly regarded financial institution and look forward to working with them again.”

Amherst Pierpont Securities provided structuring and advisory services to Pacific Oak Capital Advisors. Hunton Andrews Kurth was legal counsel for the company. Morgan Lewis & Bockius was legal counsel for MetLife Investment Management.

Pacific Oak Capital Advisors has had a busy few months. In April, the company acquired seven single-family homes in Southaven, Miss., for $1.11 million.

The homes were built in 2020 and are 10 minutes from downtown Memphis. They were built by a Tennessee-based builder.

With the acquisition, Pacific Oak now owns and manages roughly 1,800 single-family homes in suburban areas in the Midwest and Southeast. It has other types of real estate as well.

The company and its affiliates manage $4 billion worth of real estate.

Its founders, Keith Hall and Peter McMillan, were also co-founders of Newport Beach-based real estate management company KBS Capital Advisors and Westwood-based asset management company Willowbrook Capital Group.

In 2019, Pacific Oak Capital was named sponsor and adviser of Pacific Oak Strategic Opportunity REIT Inc. and Pacific Oak Strategic Opportunity REIT II, Inc. It was also named the external manager of Keppel Pacific Oak US REIT.

Pacific Oak Strategic Opportunity REIT Inc. and Pacific Oak Strategic Opportunity REIT II merged in 2020.

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