Pacific Office Properties Acquires $31 Million Office Complex in Santa Clarita, CA

Pacific Office Properties Trust, Inc. (NYSE Amex: PCE), a West Coast office REIT, announced today the $31 million acquisition of the three-building office complex known as Valencia Corporate Center located in Santa Clarita Valley.

Consistent with its co-investment strategy, Pacific Office will co-own Valencia Corporate Center through a joint venture with Angelo, Gordon & Co., a privately held investment manager with approximately $23 billion of assets under management. The joint venture partnership will be the latest in a long history of joint ventures formed between Pacific Office’s management group and Angelo Gordon, which together have completed over $1 billion in acquisitions.

“The acquisition of Valencia Corporate Center reflects our strategy of purchasing high quality value-add office buildings with institutional co-investors in markets that offer solid long term growth fundamentals,” said Matthew J. Root, the Company’s Chief Investment Officer.

Situated on a 13.8 acre campus, the Valencia Corporate Center comprises 194,000 square feet in three Class A office buildings located in the Valencia submarket, 30 miles north of downtown Los Angeles within the Santa Clarita Valley. The campus was developed in 1999 and 2007 with amenities including an on-site gym and dining to cater to its diversified tenant roster.

About Pacific Office Properties Trust, Inc.

Pacific Office Properties Trust, Inc. (www.pacificofficeproperties.com) is a self-administered and self-managed real estate investment trust that owns and operates primarily institutional-quality office properties principally in selected long-term growth markets in southern California and Hawaii. The Company’s strategy is to acquire, often in partnership with institutional co-investors, value-added office buildings whose potential can be maximized through improvements, repositioning and superior leasing and management.

Certain Information About Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe harbor provisions. Forward-looking statements are not historical information and are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as “should,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” “potential” or “continue,” or the negative or other variations thereof or comparable terminology, are intended to identify forward-looking statements. The risks and uncertainties inherent in such statements may cause actual future events or results to differ materially and adversely from those described in the forward-looking statements. Important factors that may cause a difference between projected and actual results for Pacific Office Properties Trust, Inc. are discussed in the Company’s filings from time to time with the SEC. Pacific Office Properties Trust, Inc. disclaims any obligation to revise or update any forward-looking statements that may be made from time to time by it or on its behalf.

Pacific Office Properties Trust, (AMEX:PCE)
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