|
Pacific Office Properties Trust, Inc. is a real estate investment trust that acquires, owns, and operates office properties in the western U.S., focusing initially on the long term growth markets of Honolulu, San Diego, Los Angeles, and Phoenix. The Company is managed by Pacific Office Management, Inc., an entity affiliated with and owned by the Company’s founder, The Shidler Group.
The Company acquires, in partnership with institutional co-investors, value-added office buildings whose potential can be maximized through improvements, repositioning, and superior leasing and management. The Company continues The Shidler Group’s highly successful institutional joint-venture operations, which focus on acquiring opportunistic and value-added commercial real estate in partnership with institutional co-investors.
As of March 31, 2009, the Company’s total market capitalization exceeded $674 million. This includes approximately $424 million in consolidated debt and approximately $250 million in equity. The Company’s equity value is based on the market price of its common stock and assumes the exchange, for additional common stock, of all of the limited partnership interests in the Company’s operating partnership. |
