As a result of the recently announced closing of eightproperties to a joint venture led by affiliates of PO'B Montgomery& Company and Apollo Real Estate Advisors, Burnham Pacificannounced it will make a liquidating distribution of $1.25 pershare to its common stockholders.
The distribution will be payable Jan. 8, 2002, to stockholdersof record as of the close of business on Dec. 31. In addition tothe liquidating distribution, proceeds from the sale of the eightproperties will be used toreduce outstanding indebtedness and tosatisfy other obligations.
Burnham Pacific Properties, Inc. is a real estate investmenttrust (REIT) that focuses on retail real estate.
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