NEWPORT BEACH, Calif., Dec. 15 /PRNewswire/ -- Pacific Gulf Properties
Inc. (NYSE: PAG) announced today the appointment of Christine Garvey to its
Board of Directors.
"Christine brings to Pacific Gulf a strong background in real estate,"
said Glenn L. Carpenter, chairman of the board and chief executive officer.
"As the company's portfolios continue to grow, we believe her wealth of
experience will complement the expertise of our existing board."
Named Real Estate Executive of the Year 1997 by the National Association
of Corporate Real Estate Executives, Ms. Garvey has nearly 20 years of
experience in commercial real estate management and financing. She is
currently president of Cadspec, a Novato, Calif.-based software company that
specializes in the management of real estate portfolios. Previously, Ms.
Garvey served in a variety of capacities with Bank of America in San
Francisco, most recently as group executive vice president in charge of
commercial real estate services where she directed a department that managed
$12 billion in commitments, providing credit and other financial services to
various segments of the real estate industry including developers, investors,
pension fund advisors, mortgage brokers and real estate investment trusts.
Over the course of her career, Ms. Garvey has managed real estate
portfolios ranging in size from 5.5 million square feet to 40 million square
feet for a number of banks, including Security Pacific Bank, Wells Fargo Bank
and First Interstate Bank of California.
Prior to her experience in the real estate banking industry, Ms. Garvey
was a practicing attorney specializing in real estate, corporate and probate
law.
In addition to her responsibilities with Cadspec, Ms. Garvey also serves
on the boards of directors of Catellus Development Corporation, Timberland
Growth Corporation, San Francisco Heritage Foundation, and the Philharmonia
Baroque Orchestra. She is a member of Urban Land Institute, National
Association of Real Estate Investment Trusts, International Association of
Corporate Real Estate Executives, National Realty Committee, and the
Industrial Development Research Council. Additionally, Ms. Garvey belongs to
the Massachusetts, Vermont and Federal Bar Associations.
Ms. Garvey was graduated magna cum laude from Immaculate Heart College in
Los Angeles with a bachelor of arts. She earned a juris doctor from Suffolk
University Law School in Boston.
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 67 properties encompassing more than
14 million square feet of space. Pacific Gulf also maintains a smaller
multifamily portfolio that includes eight rental communities comprising 1,438
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
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CONTACT: Cindy L. Smith, Investor Relations of Pacific Gulf Properties, 949-223-5000; Virginia St. John-Needham, General Information, 310-442-0599, Nan Teele, Analysts, 415-986-1591, or Stephen Moore, Media, 310-442-0599, all of The Financial Relations Board
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