| Pan Pacific Retail Properties, Inc. | |||
| Ticker: | PNP | 1631-B South Melrose Drive | |
| Exchange: | New York Stock Exchange | Vista, CA 92083 | |
| Industry: | Financial (SIC Code 6798) | (760) 727-1002 | |
| Type of Shares: | Common Shares | Filing Date: | 6/6/97 | |
| U.S. Shares: | 7,000,000 | Offer Date: | 8/7/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 7,000,000 | Offer Price: | $19.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.20 | |
| Offering Amount: | $140,000,000 | Selling: | $0.70 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - | |||
| Spin out parent firm: | Revenue Properties Company Ltd. | |||
| Manager | Tier | Phone |
| Prudential Securities Incorporated | Lead Manager | (212) 778-5420 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| Issuer's Law Firm: | Latham & Watkins |
| Bank's Law Firm: | Pryor, Cashman, Sherman & Flynn |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $36.71 | $9.59 | $8.53 | Assets: | $312.84 |
| Net Income: | $0.45 | $0.18 | -$0.45 | Curr Assets: | |
| EPS: | Liabilities: | $202.55 | |||
| Prior EPS: | $1.41 | $1.35 | Curr Liabilities: | ||
| Cash Flow/Oper: | $5.75 | Equity: | $110.29 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a real estate investment trust, (REIT). The company is engaged in the ownership, management, leasing, acquisition and development of shopping centers located primarily in the western United States. Upon completion of the Offering and a series of related transactions, the company will own or control a portfolio of 25 shopping center properties. The Properties are generally well established community and neighborhood shopping centers strategically located and easily accessible from major transportation arterials. The Properties consist of an aggregate of over 3.6 million square feet of GLA, have an aggregate age of approximately seven years and are primarily situated in four key western U.S. markets: Northern California, Southern California, Las Vegas, Nevada and the Pacific Northwest, each of which the company believes has strong economic and demographic characteristics. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of mortgage debt on the properties; repayment of fees and expenses associated with the unsecured credit facility and for working capital purposes. |