Before this latest withdrawal, one other industrial property hadbeen deleted from the sale to CalWest and two others had beenwithheld for possible additional remediation. Those two propertiesmay eventually be sold to CalWest or also deleted from thesale.
Additionally, the REIT has sold one of its two remainingtraditional multifamily apartment properties. Located in WestCovina, the 250-unit complex had been producing $9.5 million in netcash proceeds to the company after repayment of debt andexpenses.
Late last month Pacific Gulf announced the closing of its saleof 66 industrial properties to CalWest for an estimated $853million. The REIT still has six active senior multifamilyproperties in its portfolio to be sold off. Those propertiesconsist of a combined 1,294 units with another 1,202 unitscurrently under development.
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