San Diego Business Journal

REIT Selling Hawaii Office Property for $70.5 Million

Friday, February 24, 2012

Pacific Office Properties Trust Inc. of San Diego is selling an office complex that it owns in Honolulu for $70.5 million, the investment firm said in a Feb. 22 filing with the U.S. Securities and Exchange Commission.

The company said it entered into agreements to sell First Insurance Center to Senior Housing Properties Trust of Newton, Mass., on Feb. 15. The sale of the 215,527-square-foot property is expected to close by June 30, subject to customary closing conditions.

Pacific Office Properties owns, acquires and operates office real estate primarily in California and Hawaii. The company trades under the symbol PCE on the New York Stock Exchange.

— Lou Hirsh