SAN DIEGO-Billionaire investor Warren E. Buffet has acquired a nearly 5.1% stake in locally based shopping center company Burnham Pacific Properties Inc., according to a Securities and Exchange Commission filing.

The head of Berkshire Hathaway Inc. disclosed in documents that the 5.06% passive investment in the San Diego-based real estate investment trust is equal to more than 1.6 million common shares.

Details about when the shares were purchased or at what prices were not revealed in the filing. But the revelation had an effect on the company¹s stock price: Burnham Pacific shares closed up 30 cents to $5.23 Wednesday on the New York Stock Exchange.

The company announced last week that it will make a distribution of $1.25 per share to its common stockholders as a result of the liquidation and sale of eight properties to a joint venture led by affiliates of PO’B Montgomery & Co. and Apollo Real Estate Advisors.

The sale of the eight properties will also be used to reduce outstanding debt and pay other obligations.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.