SAN DIEGO, April 10 /PRNewswire-FirstCall/ -- Burnham Pacific Properties,
Inc. (NYSE: BPP) today announced that it has closed on the sale of
Bell Gardens Marketplace, a 160,000 square foot community center located in
Bell Gardens, California, to Pacific Retail, L.P. (a joint venture led by
affiliates of PO'B Montgomery & Company and Apollo Real Estate Advisors) for a
purchase price of approximately $10.5 million. This sale represents the final
transaction with the joint venture under a previously announced Purchase and
Sale Agreement, as amended, with Pacific Retail, L.P.
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, or fax,
+1-619-652-4711, dbplatt@bpac.com
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