Company Information

Learn More About XBRL  

Address: 12200 W. OLYMPIC BLVD., SUITE 200  
City: LOS ANGELES 
State: CA 
Zip Code: 90064 
Telephone: 310-481-8400 


Description of Business


Primary SIC Code: 6798
(As filed with the SEC)  

We are a self-administered REIT active in premier office and industrial submarkets along the West Coast. We own, develop, acquire and manage primarily Class A real estate assets in the coastal regions of Los Angeles, Orange County, San Diego, greater Seattle and the San Francisco Bay Area, which we believe have strategic advantages and strong barriers to entry. Class A real estate encompasses attractive and efficient buildings of high quality that are attractive to tenants, are well-designed and constructed with above-average material, workmanship and finishes and are well-maintained and managed. We qualify as a REIT under the Internal Revenue Code of 1986, as amended (the "Code"). As of December 31, 2010, our stabilized portfolio was comprised of the following office buildings (the "Office Properties") and industrial buildings (the "Industrial Properties").  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
09/2011-0.030.350N/E
06/20110.000.350N/E
03/2011-0.050.350N/E
12/20100.050.350729.40
09/2010-0.070.350N/E
06/20100.110.350270.27
03/20100.350.35088.11
12/20090.470.35065.26

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2010 Leverage 2010
Net Inc/Comm Equity0.02Total Liab/Total Assets0.59
Net Inc/Total Assets0.01Total Liab/Inv Cap0.67
Net Inc/Inv Cap0.01Total Liab/Comm Equity1.37
Pretax Inc/Net Sales0.06Interest Coverage Ratio1.32
Net Inc/Net Sales0.07Curr Debt/Equity0.31
Cash Flow/Net Sales0.40LTD/Equity1.03
SG&A/NetSales0.09Total Debt/Equity1.34
Asset Utilization   Liquidity  
Net Receivables Turnover3.29Quick RatioNA
Inventory TurnoverNACurrent RatioNA
Inventory Day SalesNANet Rec/Curr AssetsNA
Net Sales/Work CapNAInv/Curr AssetsNA
Net Sales/PP&E0.12  

Income Statement (Millions)

  9/30/2011 6/30/2011 3/31/2011 12/31/2010
Total Revenues(Net Sales) 96.25 92.06 88.13 84.51
Cost of Goods Sold 28.08 26.42 26.20 23.61
Selling & Admin Exps 6.36 7.44 6.56 6.87
Operating Income 24.70 24.64 25.56 24.23
Interest Exp 24.05 21.23 20.88 19.04
Pretax Income 0.68 3.47 4.87 5.45
Other Income 0.03 0.06 0.18 0.26
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 13.99 3.48 4.83 5.33

Balance Sheet (Millions)

Assets 9/30/2011 6/30/2011 3/31/2011 12/31/2010
Cash & Short Term Investments 40.92 26.76 8.61 16.30
Receivables - Total 110.53 102.69 98.21 95.31
Inventories - Total NA NA NA NA
Total Current Assets NA NA NA NA
Net Property, Plant & Equipment 3,016.10 2,931.98 2,570.65 2,544.44
Total Assets 3,367.68 3,264.79 2,841.93 2,816.57
Liabilities        
Accounts Payable 115.62 89.23 99.29 88.91
Debt in Current Liabilities 503.37 503.94 472.97 342.20
Total Current Liabilities NA NA NA NA
Long-Term Debt 1,285.60 1,204.30 1,014.52 1,114.77
Total Liabilities 2,032.78 1,920.95 1,696.57 1,656.58
Stockholder's Equity        
Minority Interest 33.07 33.33 30.80 31.38
Preferred Stock 121.58 121.58 121.58 121.58
Common Stock 0.59 0.59 0.52 0.52
Retained Earnings -296.48 -285.92 -264.85 -247.25
Treasury Stock NA NA NA NA
Total Stockholders' Equity 1,261.27 1,270.20 1,071.72 1,086.35
Total Liabilities and Stockholders' Equity 3,294.05 3,191.15 2,768.30 2,742.93

Cash Flow Summary (Millions)

Categories 9/30/2011 6/30/2011 3/31/2011 12/31/2010
Net Cash Provided by Operating Activities 57.60 12.67 43.80 24.90
Net Cash Provided by Investing Activities -117.70 -374.38 -61.14 -267.12
Net Cash Provided by Financing Activities 50.17 380.42 9.21 248.75

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/2006251.2481.861.07
12/2007258.47113.820.95
12/2008289.9744.121.04
12/2009279.4336.990.47
12/2010301.9819.710.05
Growth Rates4.71-29.95-53.51

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional12/31/1119168,558--




Report Date : 1/30/2012

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