Two of the founders and former executives of KBS Capital Advisors, Keith Hall and Peter McMillan III, have formed Pacific Oak Companies, a group comprising Pacific Oak Capital Advisors LLC, Pacific Oak Capital Markets Group LLC, and Pacific Oak Holdings LLC, according to a release from a representative of Pacific Oak Companies.
The release says as a group, the companies plan to work together to facilitate the acquisition, disposition, and management of commercial real estate and commercial real estate–related investment products, as well as the distribution of financial products designed to provide individual investors with the benefits that can accrue from the ownership of commercial real estate. Investment offerings may include a perpetual life real estate investment trust, private placements including tax-advantaged Delaware statutory trusts (DSTs), a single-family rental housing REIT, qualified opportunity-zone funds (QOZFs), private equity, and other value-add alternative investment products.
According to the statement, Hall and McMillan will be joined at Pacific Oak by the core executive team that previously led KBS Capital Markets Group, including Michael “Mick” Manning, who will serve as president and CEO; Hans Henselman, COO; Jeff Kremin, national sales manager; and Lee Bastidas and Emily Gallagher, who will oversee key accounts throughout the independent broker-dealer and registered investment advisor channels.
Hall is quoted in the release as saying, “There are a host of exciting opportunities in the thriving alternative investments arena. Pacific Oak will leverage our well-established relationships and industry expertise to continue to deliver these opportunities to financial advisors and their clients throughout the United States. Pacific Oak is dedicated to the independent broker-dealer channel, and when an advisor is in need of value-add products, we want to provide the solution.”
McMillan adds, “We are in the process of staffing Pacific Oak Capital Markets Group, and we are fortunate to welcome an exceptionally talented and experienced group of executives upon which we will quickly build.”
The firm reports that prior to co-founding KBS Capital Advisors in 2005, Hall served as a managing director with Credit Suisse First Boston, where he managed distribution strategy and business development for the Principal Transaction Group’s real estate securities portfolio. In this capacity, his two primary business unit responsibilities were mezzanine lending and commercial real estate development.
The release also says McMillan previously served as the EVP and chief investment officer of SunAmerica Investments, Inc., which was later acquired by AIG. As CIO, he was responsible for more than $75 billion in assets, including residential and commercial mortgage-backed securities, public and private investment-grade and non-investment-grade corporate bonds and commercial mortgage loans and real estate investments.