N@N

Pacific Office Properties Trust Declares Fourth Quarter 2008 Dividend

^{Published on 2008-12-02 14:41:39 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--Pacific Office Properties Trust, Inc. (AMEX:PCE), a West Coast office REIT, announced today that its Board of Directors has declared a cash dividend of $0.05 per share of its common stock for the fourth quarter 2008. The dividend will be payable on January 15, 2009 to shareholders of record on December 31, 2008.

About Pacific Office Properties Trust, Inc.

Pacific Office Properties Trust, Inc. ([ www.pacificofficeproperties.com ]) is a real estate investment trust that acquires, owns, and operates office properties in the western U.S., focusing initially on the high-growth markets of Honolulu, San Diego, Los Angeles, and Phoenix. The Company is externally managed by Pacific Office Management, Inc., an affiliate of The Shidler Group, and an entity owned by the Company's founders.

The Company's strategy is to acquire, in partnership with institutional co-investors, value-added office buildings whose potential can be maximized through improvements, repositioning, and superior leasing and management. The Company continues The Shidler Group's highly successful institutional joint-venture operations, which focus on acquiring opportunistic and value-added commercial real estate in partnership with institutional co-investors.

About The Shidler Group

The Shidler Group ([ www.shidler.com ]) is a private long-term investor in commercial real estate. Over the past 30 years, through its private and public affiliates, it has acquired, owned and managed more than 2,000 properties containing over 150 million square feet of leasable area. In addition to the formation of Pacific Office Properties Trust, Inc., The Shidler Group has founded three other publicly traded real estate investment trusts – Corporate Office Properties Trust (NYSE: OFC), First Industrial Realty Trust (NYSE: FR), and TriNet Corporate Realty Trust (formerly, NYSE: TRI, now part of iStar Financial (NYSE: SFI)).

Certain Information About Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe harbor provisions. Forward-looking statements are not historical information and are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as "should," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate," or "continue," or the negative or other variations thereof or comparable terminology, are intended to identify forward-looking statements. The risks and uncertainties inherent in such statements may cause actual future events or results to differ materially and adversely from those described in the forward-looking statements. Important factors that may cause a difference between projected and actual results for Pacific Office Properties Trust, Inc. are discussed in the Company's filings from time to time with the SEC. Pacific Office Properties Trust, Inc. and The Shidler Group disclaim any obligation to revise or update any forward-looking statements that may be made from time to time by any of them or on their behalf.