Pan Pacific, a fully integrated equity REIT that owns and manages 109 predominantly grocery-anchored neighborhood and community shopping centers, recently acquired Western Properties Trust, bringing the company's portfolio to 15.5 million sf.
The integration of these two geographically complimentary portfolios has proceeded smoothly and Pan Pacific has been able to leverage its improved market position and expanded tenant relationships to improve occupancy in the acquired portfolio by 300 basis points to 96%.
Pan Pacific's Northern California market is currently the leader in producing rental income for the firm, pulling in 38% of rental income.
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