The distribution will be payable June 20, 2001 to shareholders of record on June 18, 2001. In November 2000, the shareholders had voted to sell off the REIT's remaining assets and liquidate and dissolve the firm.
Late last year, Pacific Gulf sold off more than 60 industrial properties to CalWest Industrial Properties for an estimated $853 million. In March of this year, the REIT announced that Prudential Real Estate Investors would acquire it for $143 million, pending approval from Pacific Gulf Shareholders. The company also announced its decision to place all of its remaining properties in a liquidating trust. The funds reaped from the sale of these assets will be split among the shareholders.
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