SAN DIEGO, Dec. 20 /PRNewswire/ -- As a result of the recently announced
closing of eight properties to a joint venture led by affiliates of PO'B
Montgomery & Company and Apollo Real Estate Advisors, Burnham Pacific
Properties, Inc. (NYSE: BPP) today announced it will make a liquidating
distribution of $1.25 per share to its common stockholders.
The distribution will be payable January 8, 2002 to stockholders of record
as of the close of business on December 31, 2001. In addition to the
liquidating distribution, proceeds from the sale of the eight properties will
be used to reduce outstanding indebtedness and to 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:
http://www.burnhampacific.com
CONTACT:
Daniel B. Platt, Chief Financial Officer of
Burnham Pacific Properties, Inc., +1-619-652-4700, Fax:
619-652-4711, dbplatt@bpac.com
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