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RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
The Company has entered into agreements with Pacific Oak Capital Advisors, LLC (“Pacific Oak Capital Advisors”), the Company’s advisor. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2025 and 2024, respectively, and any related amounts due to affiliate as of September 30, 2025 and December 31, 2024 (in thousands):
Incurred during the three months ended September 30,
Incurred during the nine months ended September 30,
Payable as of
2025202420252024September 30, 2025
December 31, 2024
Asset management fees$2,298 $3,901 $7,694 $11,875 $13,917 $12,006 
Related party loan and related interest (1)
253 — 581 — 10,581 — 
Disposition fees 391 418 391 454 — — 
Reimbursable offering costs— — — — 609 654 
Property management fees— 699 — 2,023 — — 
$2,942 $5,018 $8,666 $14,352 $25,107 $12,660 
_____________________
(1) During the nine months ended September 30, 2025, the Company entered into loan agreements with Pacific Oak Capital Advisors. As of September 30, 2025, the outstanding loan balance was $10.0 million, carried an annual interest rate of 10%, and matures to the earlier of June 30, 2028 or a triggering event, such as the sale of any or the closing date of any sale of any or all of the common shares of Pacific Oak Residential Trust, Inc. (“PORT”), the Company’s subsidiary, not meeting financial covenants, or an event of a default. The loan interest is recorded as interest expense, net in the accompanying consolidated statements of operations. Additionally, the loan is secured by equity of PORT.
During the nine months ended September 30, 2025, the Company provided $2.4 million of funding to the 110 William Joint Venture and a result, the Company recognized a due from affiliate of $2.4 million as of September 30, 2025. There were no distributions during the nine months ended September 30, 2024.