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Real Estate Investment Trusts Orange County

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BUSINESS
December 24, 1998 | Bloomberg News
Irvine Apartment Communities Inc. said Wednesday that its board has hired Morgan Stanley Dean Witter & Co. to evaluate a $540-million offer from its chairman, billionaire developer Donald Bren, to take the company private. Bren, through his closely held Irvine Co., offered $32.50 a share for 83% of IAC's common shares earlier this month. At the time, the offer represented a 19% premium. IAC, a real estate investment trust based in Newport Beach, has since risen 16%. It closed Wednesday at $31.
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BUSINESS
December 24, 1998 | Bloomberg News
Irvine Apartment Communities Inc. said Wednesday that its board has hired Morgan Stanley Dean Witter & Co. to evaluate a $540-million offer from its chairman, billionaire developer Donald Bren, to take the company private. Bren, through his closely held Irvine Co., offered $32.50 a share for 83% of IAC's common shares earlier this month. At the time, the offer represented a 19% premium. IAC, a real estate investment trust based in Newport Beach, has since risen 16%. It closed Wednesday at $31.
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BUSINESS
February 20, 1998 | James S. Granelli
Pacific National Bank said Thursday that a mortgage-based real estate investment trust it helped create last summer will start providing financing for home loans next week. The REIT, called Alta Residential Mortgage Inc., will buy mortgages from the Newport Beach bank and other lenders, said Allen Barbieri, the bank's president. Barbieri also serves as chairman and chief executive of Alta.
BUSINESS
February 20, 1998 | James S. Granelli
Pacific National Bank said Thursday that a mortgage-based real estate investment trust it helped create last summer will start providing financing for home loans next week. The REIT, called Alta Residential Mortgage Inc., will buy mortgages from the Newport Beach bank and other lenders, said Allen Barbieri, the bank's president. Barbieri also serves as chairman and chief executive of Alta.
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