Pacific Office Properties, a real estate investment trust that owns office properties in Honolulu and several other Western cities, reported a net loss of $1.96 million, or 65 cents per share, in the second quarter.

Pacific Office Properties also reported funds from operations of $180 million, or 1 cent per share, for the quarter ending June 30.

It was the first time the REIT, which was formed in March, reported financial results.

The company said its total market capitalization exceeded $750 million as of June 30, including $417 million in consolidated debt and $335 million in equity.

During the quarter the company said it acquired interests in four joint ventures consisting of 11 office buildings in Honolulu, San Diego and Phoenix totaling about 930,000 leasable square feet.

Pacific Office Properties is managed by an affiliate of the Honolulu-based Shidler Group.