SAN DIEGO, March 20 /PRNewswire-FirstCall/ -- Burnham Pacific Properties,
Inc. (NYSE: BPP) today announced that the shares of common stock of Developers
Diversified Realty Corporation (NYSE: DDR) that were distributed to the
Company's stockholders as part of the liquidating distribution made on
March 12, 2002, have a cost basis of $20.66 per share, which was the last
reported sale price of a share of DDR common stock on March 12, 2002 as
reported by the NYSE. In 2003, a Form 1099-DIV will be mailed to the
stockholders of record that received this distribution which will indicate
this cost basis. Stockholders should consult their individual tax advisors
with respect to their tax consequences as a result of this distribution.
Burnham Pacific Properties, Inc. is a real estate investment trust (REIT)
that focuses on retail real estate. More information on Burnham may be
obtained by visiting the Company's web site at http://www.burnhampacific.com .
SOURCE Burnham Pacific Properties, Inc.
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Related links:
http://www.burnhampacific.com
CONTACT:
Daniel B. Platt, Chief Financial Officer of
Burnham Pacific Properties, Inc., +1-619-652-4700, fax,
+1-619-652-4711, dbplatt@bpac.com
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