NEWPORT BEACH, Calif., Dec. 29 /PRNewswire/ -- Pacific Gulf Properties
Inc. (NYSE: PAG) announced today that it has acquired the 273-unit Tyler
Springs Senior Apartments in Riverside, California from Spruce Grove, Inc. for
a total purchase price of $13,400,000.
Tyler Springs, a community designed for active seniors age 55 and older,
offers garden-style and two-story walk-up apartments which range in size from
670 square feet for a one bedroom/one bath, to 870 square feet for a two
bedroom/one bath. At close of escrow, the property was 100% occupied.
Pacific Gulf Properties Inc., a self-administered and self-managed equity
real estate investment trust, owns, operates, leases, acquires, rehabilitates
and develops industrial and multifamily properties located in selected markets
within the western United States.
SOURCE Pacific Gulf Properties, Inc.
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CONTACT:
Glenn L. Carpenter, Chief Executive Officer
of Pacific Gulf Properties, Inc., 714-223-5000
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