SAN DIEGO, Calif., Sept. 27 /PRNewswire/ -- Burnham Pacific Properties,
Inc. (NYSE: BPP) today announced that it has closed on the sale of Keizer
Creekside shopping center located in Salem, Oregon. The Company sold its
approximate 62,000 square foot interest in the center to the principals of
Powell Development Group, Lloyd and Peter Powell, for an aggregate sales price
of approximately $5.9 million. Proceeds from the sale were used to reduce
outstanding indebtedness and satisfy other obligations.
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:
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, or dbplatt@bpac.com
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