"We are pleased to increase our dividend for the fourth consecutive year," says Stuart A. Tanz, president and chief executive officer. "Our ability to continue providing increased dividends to our shareholders is a result of the strong fundamentals in our core markets and our proactive management and leasing initiatives, as well as our investment program."
With its recent acquisition of Western Properties Trust, Pan Pacific is now the largest neighborhood shopping center REIT on the West Coast. The transaction "should enhance our ability to generate solid growth going forward," Tanz says.
Pan Pacific's portfolio currently totals 111 properties, encompassing over 15 million sf and is 95% leased to over 2,100 retailers. The portfolio is diversified across California, Washington, Oregon and Nevada.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
