UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
HERRMAN, DONALD G.
22245 STEEPLECHASE LANE
DIAMOND BAR, CA 91765
USA
2. Issuer Name and Ticker or Trading Symbol
PACIFIC GULF PROPERTIES INC.
PAG
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
MARCH 31, 2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND SECRETARY
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>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
COMMON STOCK |03/24/|M | |5,479 |A |$18.25 | |D | |
|00 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
COMMON STOCK |03/24/|M | |4,000 |A |$15.00 | |D | |
|00 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
COMMON STOCK |03/24/|M | |1,500 |A |$16.75 | |D | |
|00 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
EMPLOYEE ISO (RIGHT-TO|$18.25 |03/24|A | |5,479 |A |(1) |02/16|Common Stock|5,479 | | |D | |
- -BUY) | |/00 | | | | | |/04 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
EMPLOYEE ISO (RIGHT-TO|$15.00 |03/24|A | |4,000 |A |(2) |12/04|Common Stock|4,000 | | |D | |
- -BUY) | |/00 | | | | | |/05 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
EMPLOYEE ISO (RIGHT-TO|$16.75 |03/24|A | |1,500 |A |(3) |06/30|Common Stock|1,500 | | |D | |
- -BUY) | |/00 | | | | | |/06 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) The option vested immediately on
2/17/94.
(2) The option vests equally over 5 years beginning
12/5/95.
(3) The option vests equally over 5 years beginning
7/1/96.
SIGNATURE OF REPORTING PERSON
/s/Donald G. Herrman
DATE
April 10, 2000
