Properties sold in 2008:
Sacramento / four (644 units)
Northern California / one (560 units)
Seattle / one (280 units)
|
|
In less-volatile economic times, our capital recycling strategy is to selectively prune older or noncore assets in our portfolio at a level of less than $75 million per year, as measured by net book value. Over the next two years, we may increase property dispositions to generate liquidity and manage our balance sheet. In 2008, we sold six properties with a net book value of $97 million, generating a gain on sale of $66 million and $163 million of cash. |
| breproperties.com
