VISTA, CA-Pan Pacific Retail Properties Inc., which is attempting to complete a giant merger with Western Properties Trust, has approved a special dividend of $0.28 per share, payable Nov. 15, 2000 to stockholders of record as of Nov. 3, 2000.

However, the special dividend, approved by the Vista-based shopping REIT’s board of directors, won’t be paid unless the proposed merger closes before the payment date. Pan Pacific Retail Properties’ portfolio currently totals 61 properties, with a total of 9.5 million sf of retail space that is 98% leased to more than 1,400 retailers. The portfolio includes properties throughout California, Washington, Oregon and Nevada.

Pan Pacific announced in August that it is acquiring Emeryville-based Western Properties in a $440-million cash-and-stock deal, making it the West Coast’s largest neighborhood retail REIT.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.