NEWPORT BEACH, Calif., June 17 /PRNewswire/ -- Pacific Gulf Properties
Inc. (NYSE: PAG) announced today that Glenn L. Carpenter, chairman of the
board and chief executive officer, was named Orange County Real Estate
Entrepreneur of the Year by Ernst & Young at ceremonies held in Irvine, Calif.
on June 16, 1999.
One of seven Orange County, California, executives to receive this year's
award, Carpenter was honored for his vision and leadership in taking a small
real estate investment trust public in 1993 and guiding that company to its
prominent market position today, boasting approximately $1 billion in real
estate assets.
The Entrepreneur of the Year Award, created in 1986 by Ernst & Young, is
sponsored nationally by USA Today, CNN and CNNfn, Nasdaq-Amex Market Group,
and the Kauffman Center for Entrepreneurial Leadership. Regional sponsors
include The Orange County Register, Citibank Private Bank, J&H Marsh &
McLennan, Sprint, and Stradling Yocca Carlson & Rauth.
Pacific Gulf Properties is a real estate investment trust that owns,
develops and manages a growing portfolio of industrial properties targeting
small to mid-size tenants in selected high-growth western markets. The
company's industrial portfolio includes 73 properties encompassing more than
15.5 million square feet of space. Pacific Gulf also maintains a smaller
multifamily portfolio that includes eight rental communities comprising almost
1,500 units designed for the burgeoning population of active seniors age 55
and older. The company is headquartered in Newport Beach, Calif.
SOURCE Pacific Gulf Properties Inc.
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CONTACT:
Cindy L. Smith, Investor Relations of Pacific
Gulf, 949-223-5000; or General, Virginia St. John-Needham,
310-442-0599, Analysts, Nan Teele, 415-986-1591, or Media,
Stephen Moore, 310-442-0599, all of The Financial Relations Board
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