UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
KEENE, KRISTI L
86 PRAIRIE FALCON
ALISO VIEJO, CA 92656
USA
2. Date of Event Requiring Statement (Month/Day/Year)
JANUARY 1, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
PACIFIC GULF PROPERTIES INC.
PAG
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
VICE PRESIDENT AND CONTROLLER
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
COMMON STOCK |5,000 SHARES |D | |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
EMPLOYEE INCENTIVE STOCK|(1) |11/30/07 |COMMON STOCK |2,500 |$ 22.625 |D | |
OPTION (RIGHT TO BUY) | | | | | | | |
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EMPLOYEE INCENTIVE STOCK|(2) |12/01/08 |COMMON STOCK |10,000 SH|$ 19.50 |D | |
OPTION (RIGHT TO BUY) | | | |ARES | | | |
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</TABLE>
Explanation of Responses:
(1) The option vests in five equal installments beginning on December 1,
1998.
(2) The option vests in five equal installments beginning on December 2,
1999.
SIGNATURE OF REPORTING PERSON
/s/ KRISTI L. KEENE
DATE
JANUARY 5, 1999
