NEWPORT BEACH, Calif., Dec. 19 /PRNewswire/ -- Pacific Gulf Properties
Inc. (NYSE: PAG) has sold its 279-unit apartment property in Beaverton, Oregon
to Bay Apartment Communities, for a total sales price of $15,475,000.
The Company elected to sell Waterhouse Place Apartments as it was the
only property owned by Pacific Gulf in the Portland market, and the Company
had no immediate plans to expand its portfolio of family-style apartment
communities in the Portland market.
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:
Cindy L. Smith, Investor Relations,
714-223-5000
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