The Village East at 2301 Lancaster Drive NE and Keizer Creeksideat 5452 River Road North are the affected properties. The VillageEast is the largest neighborhood retail center in Salem. The220,926-sf center is anchored by an Albertson's, Ross Dress forLess, Borders Books and Bi-Mart. It is 5.8% vacant. KeizerCreekside is a 104,000-sf center anchored by Albertson's and RiteAid. It was built in 1989 and is fully leased.

Burnham Pacific sold its interest in the properties along with12 others for $355 million. Prudential Real Estate Investors saysit is making its investment on behalf of PRISA II, a $1.5 billionopen-end, commingled real estate equity fund it operates forinstitutional investors.

The 14 properties, which together total 2.9 million square feet,consist of a mix of grocery anchors, power centers and a factoryoutlet center. Ten of the properties are located in California, andtwo are in with two each in Washington State.