The acquisition was financed through Wells Fargo Bank, whichprovided a loan of $12.6 million. Don Mitchell and Paul LaFrenz ofCB Richard Ellis represented both sides in the transaction.

"This is the second major acquisition our company has made inSan Diego in the first half of 2001 and the third overall, with thetotal value of the purchases approximately $85 million," says MattRoot, a partner with Shidler. "With interest rates remaining lowand the environment for transactions remaining favorable, we areseeing opportunities in a number of our target markets. We plan toinvest up to an additional $150 million in high-potentialcommercial properties in Southern California by the end of thisyear."

Shidler owns a large and growing portfolio of commercial realestate investments in California, Arizona and Texas. Its westernregional headquarters is in San Diego.

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