Pan Pacific, a fully integrated equity REIT that owns and manages 109 predominantly grocery-anchored neighborhood and community shopping centers, recently acquired Western Properties Trust, bringing the company's portfolio to 15.5 million sf.
The integration of these two geographically complimentary portfolios has proceeded smoothly and Pan Pacific has been able to leverage its improved market position and expanded tenant relationships to improve occupancy in the acquired portfolio by 300 basis points to 96%.
Pan Pacific's Northern California market is currently the leader in producing rental income for the firm, pulling in 38% of rental income.
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.
