Posted at 1:51 p.m., Friday, February 2, 2007
Shidler REIT plan faces key shareholder vote
Advertiser Staff
Honolulu-based real estate investor Jay Shidler's plan to combine some of his holdings with a publicly traded Arizona company faces a crucial shareholder vote next month to complete the transaction.Arizona Land Co., a Phoenix-based real estate investment trust, has scheduled a March 14 shareholder meeting to vote on the sale, according to proxy material filed at the U.S. Securities and Exchange Commission. If approved, the combined operations would renamed as Pacific Office Properties Trust Inc. and trade under the stock symbol PCE.
Shidler, 60, would serve as chairman and interim chief executive officer and president of the company. Among the properties owned by the combined company will be 10 office buildings that Shidler now holds, including Waterfront Plaza, the Davies Pacific Center, the Pan Am Building, and the PBN Building on O'ahu.
