July 27, 1999 |
Burnham Pacific Properties Inc., the largest strip shopping center real estate investment trust on the West Coast, rejected an unsolicited $1.2-billion buyout offer from retailer and property investor Jay Schottenstein. The rejection comes two weeks after Schottenstein, the chairman and majority owner of Value City Department Stores Inc., raised his bid for the San Diego-based company to $13.50 a share from $13. He also would assume debt.
December 30, 1997 |
Burnham Pacific Properties in San Diego has signed a purchase agreement for Simi Valley Plaza, a 219,775-square-foot entertainment and promotional center, for about $24.5 million. The company expects initially to acquire a 49% minority interest in the Simi Valley center and has the right to acquire the remaining interest by December 1998. Simi Valley Plaza is anchored by Home Base and Edwards Theatres. Other major tenants include Boston Market and Payless Shoes.
October 6, 1993 |
A San Diego-based real estate investment trust said Tuesday that it has agreed to purchase from an Orange County developer a La Puente shopping center for $58 million in cash--one of the largest single-property purchases made by an REIT. Dicker Warmington Properties of Fullerton built the 775,000-square-foot Plaza at Puente Hills shopping center in 1986. Its tenants include an Ikea furniture store, AMC Theaters and a Miller's Outpost.
January 6, 1998 |
Burnham Pacific Properties Inc., a San Diego-based real estate investment trust, on Monday purchased 20 community shopping centers across California for $302.4 million, making the firm one of the state's largest owners and managers of retail space. The deal also makes Burnham Pacific the largest publicly traded West Coast retail REIT and could help the firm attract the backing of larger institutional investors, according to Eric Lohmeier, who follows retail REITs for Everen Securities.
August 1, 2000 |
At a time publicly traded real estate investment trusts are bouncing back on Wall Street, one of the oldest REITs--which shares its name with one of San Diego's best-known real estate dynasties--appears to be fading fast.