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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Pacific Gulf Properties Inc.
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(Name of Issuer)
Common Stock
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(Title of class of securities)
694396102
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(CUSIP number)
Check the following box if a fee is being paid with this statement / x / (A
fee is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the notes).
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CUSIP No. 694396102 13G Page 2 of 8 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley, Dean Witter, Discover & Co.
IRS # 39-314-5972
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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5 SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 2,040,200
OWNED BY ----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON WITH ----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,278,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,278,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.29%
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12 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 694396102 13G Page 3 of 8 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley Asset Management Inc.
IRS # 13-304-0307
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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5 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,286,800
EACH ----------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,525,100
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,525,100
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.22%
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12 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT !
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CUSIP No. 694396102 13G Page 4 of 8 Pages
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Item 1 (a) Name of Issuer
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Pacific Gulf Properties Inc.
Item 1 (b) Address of issuer's principal executive offices
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363 San Miguel Drive
Newport Beach, CA 92660
Item 2 (a) Name of person filing
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(a) Morgan Stanley, Dean Witter, Discover & Co.
(b) Morgan Stanley Asset Management Inc.
Item 2 (b) Principal business office
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(a) 1585 Broadway
New York, New York 10036
(b) 1221 Avenue of the Americas
New York, New York 10020
Item 2 (c) Citizenship
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Incorporated by reference to Item 4 of the cover
page pertaining to each reporting person.
Item 2 (d) Title of class of Securities
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Common Stock
Item 2 (e) Cusip No.
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694396102
Item 3 (a) Morgan Stanley, Dean Witter, Discover & Co. is
- ------------ (e) an Investment Adviser registered under section
203 of the Investment Advisers Act of 1940.
(b) Morgan Stanley Asset Management Inc. is (e) an
Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
Item 4 Ownership
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Incorporated by reference to Items (5) - (9) and
(11) of the cover page.
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CUSIP No. 694396102 13G Page 5 of 8 Pages
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Item 5 Ownership of 5 Percent or Less of a Class
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Inapplicable
Item 6 Ownership of More than 5 Percent on Behalf of Another Person
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Accounts managed on a discretionary basis by Morgan Stanley Asset
Management Inc., a wholly owned subsidiary of Morgan Stanley, Dean
Witter, Discover & Co. are known to have the right to receive or
the power to direct the receipt of dividends from, or the proceeds
from, the sale of such securities. No such account holds more than
5 percent of the class.
Item 7 Identification and Classification of the Subsidiary Which Acquired
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the Security Being Reported on By the Parent Holding Company
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Inapplicable
Item 8 Identification and Classification of Members of the Group
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Inapplicable
Item 9 Notice of Dissolution of Group
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Inapplicable
Item 10 Certification
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By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
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CUSIP No. 69439610 13G Page 6 of 9 Pages
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After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date : December 9, 1997
Signature : /s/ Donald P. Ryan
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Name / Title : Donald P. Ryan / Vice President Morgan Stanley Asset
Management Inc.
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MORGAN STANLEY ASSET MANAGEMENT INC.
Date : December 9, 1997
Signature : /s/ Bruce Bromberg
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Name / Title : Bruce Bromberg / President Morgan Stanley & Co. Incorporated
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MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
INDEX TO EXHIBITS PAGE
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EXHIBIT 1 Agreement to Make a Joint Filing 7
EXHIBIT 2 Secretary's Certificate Authorizing Bruce Bromberg 8
to Sign on behalf of Morgan Stanley, Dean Witter,
Discover & Co.
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CUSIP No. 69439610 13G Page 7 of 9 Pages
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EXHIBIT 1 TO SCHEDULE 13G
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December 9, 1997
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MORGAN STANLEY, DEAN WITTER, DISCOVER & CO. and MORGAN STANLEY
ASSET MANAGEMENT INC., hereby agree that, unless differentiated,
this Schedule 13G is filed on behalf of each of the parties.
MORGAN STANLEY ASSET MANAGEMENT INC.
BY: /s/ Donald P. Ryan
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Donald P. Ryan / Morgan Stanley Asset Management Inc.
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
BY: /s/ Bruce Bromberg
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Bruce Bromberg / Morgan Stanley & Co. Incorporated
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Page 8 of 9 Pages
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EXHIBIT 2
MORGAN STANLEY
SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant
Secretary of Morgan Stanley, Dean Witter, Discover & Co., a corporation
organized and existing under the laws of the State of Delaware (the
"Corporation"), certify that as approved by a Unanimous Consent of Directors in
Lieu of a Meeting dated as of May 31, 1997, the following persons are each
authorized to sign reports to be filed under Sections 13 nd 16 of the
Securities Exchange Act of 1934 on behalf of the Corporation, and such
authorizations are in full force and effect as of this date:
Stuart J. M. Breslow
Robert G. Koppenol
Bruce Bromberg
Robin Sherak
IN WITNESS WHEREOF, I have hereunto set my name and affixed
the seal of the Corporation as of the 3rd day of June, 1997.
/S/ Charlene R. Herzer
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CHARLENE R. HERZER
ASSISTANT SECRETARY
[SEAL]
