Pacific Realty Trust

CommonWealth Partners and the California Public Employees' Retirement System have acquired the 801 Tower building in downtown Los Angeles from Pacific Realty Trust in a deal valued at more than $87 million. Los Angeles-based CommonWealth and CalPERS, doing business as Fifth Street Properties, paid about $200 per square foot for the 24-story, 436,000-square-foot office building at 801 S. Figueroa St., which was completed in 1992.

CommonWealth Partners and the California Public Employees' Retirement System have acquired the 801 Tower building in downtown Los Angeles from Pacific Realty Trust in a deal valued at more than $87 million. Los Angeles-based CommonWealth and CalPERS, doing business as Fifth Street Properties, paid about $200 per square foot for the 24-story, 436,000-square-foot office building at 801 S. Figueroa St., which was completed in 1992.

A San Diego-based investor is expected today to close its purchase of a $265-million real estate portfolio in California and Texas that includes the 24-story 801 Figueroa Tower in downtown Los Angeles and the Pasadena Hilton. A partnership of Pacific Realty Trust (an affiliate of Shidler Group) and New York investment bank Angelo Gordon & Co.

Regency Realty Corp. said Thursday that it has agreed to buy closely held Pacific Retail Trust for about $1.04 billion in stock and assumed debt, expanding its strip shopping-center holdings from the Southeast and Midwest to the West. The purchase would boost Jacksonville, Fla.-based Regency's holdings by more than 50% to 192 properties--most of which are anchored by grocery stores--with 22.2 million square feet of space in 22 states.

Regency Realty Corp. said Thursday that it has agreed to buy closely held Pacific Retail Trust for about $1.04 billion in stock and assumed debt, expanding its strip shopping-center holdings from the Southeast and Midwest to the West. The purchase would boost Jacksonville, Fla.-based Regency's holdings by more than 50% to 192 properties--most of which are anchored by grocery stores--with 22.2 million square feet of space in 22 states.

It's not the kind of property that developers usually daydream about: an old 265-acre oil refinery in Santa Fe Springs, badly polluted with petrochemical waste and littered with dozens of rusting oil tanks. Yet a creative deal between owner Golden West Refining Co. and city officials is helping transform a contaminated site into an economic engine. The owner is removing the refinery equipment and cleaning the tainted soil.

A San Diego-based investor is expected today to close its purchase of a $265-million real estate portfolio in California and Texas that includes the 24-story 801 Figueroa Tower in downtown Los Angeles and the Pasadena Hilton. A partnership of Pacific Realty Trust (an affiliate of Shidler Group) and New York investment bank Angelo Gordon & Co.