Richard Kincaid, Equity Office's president and chief executiveofficer, says the company continues to attract strong demand forits office assets. "As a result, we have increased our pipeline andextended the timeframe of our previously planned dispositions,"Kincaid says. "We will continue to leverage market conditions, andour level of sales may fluctuate in response to changingopportunities."
Following the reduction in the intended holding period on theseproperties, EOP will recognize a non-cash impairment charge on nineassets of approximately $185 million, or 46 cents per dilutedshare. Approximately 65% of this impairment charge relates to onebuilding in the Atlanta market--a market the company isexiting.
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