Second quarter total funds from operations rose 8.2% to $13.6million, or 61 cents per fully diluted share, up from theyear-earlier's $12.6 million, or 57 cents per share. Net incomerose to $8.4 million from $8.1 million, while revenue jumped 12.4%to $27.4 million from $24.3 million a year earlier.
The real estate investment trust's portfolio consists of 59shopping centers totaling 9.3 million sf in California, Washington,Oregon and Nevada. Occupancy at those properties in the secondquarter was a strong 97.8%, up from 97.7% a year earlier.
The REIT says it added one property to its portfolio in thequarter, the 118,500-sf Encinitas Marketplace in San Diego County.The company says it paid about $11.8 million for the complex, whichis fully leased.
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