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FOR IMMEDIATE RELEASE
OCTOBER 6, 2000
PACIFIC GULF PROPERTIES INC. ANNOUNCES
DATE FOR SPECIAL MEETING OF SHAREHOLDERS
NEWPORT BEACH, California (October 6, 2000) - Pacific Gulf Properties Inc.
(NYSE:PAG) announced today that it has established November 9, 2000 as the date
of its special meeting of shareholders to vote on proposals to sell the
Company's industrial properties portfolio to CalWest Industrial Properties, LLC,
and to sell the Company's remaining assets and liquidate. The record date for
the determination of shareholders entitled to vote at the special meeting is
October 13, 2000.
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Pacific Gulf Properties is a real estate investment trust that owns,
develops and manages a portfolio of industrial properties targeting small to
mid-size tenants in selected high-growth western markets. Pacific Gulf
Properties' industrial portfolio includes 72 properties encompassing more than
14.9 million square feet of space. Pacific Gulf Properties also owns 1,631 units
of traditional multifamily apartments which it is currently marketing for sale
and a portfolio of properties designed for the burgeoning population of active
seniors age 55 and older. The active senior portfolio consists of eight rental
apartment communities comprised of 1,438 units and five properties which are
currently being developed into approximately 931 units. Pacific Gulf Properties
is headquartered in Newport Beach, California.
