Office REIT Names New Top Officials

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Pacific Office Properties Trust Inc. said late Friday that its board has appointed Chairman Jay H. Shidler as chief executive and Lawrence J. Taff as chief financial officer on an interim basis.

Former CEO Dallas E. Lucas left the Los Angeles real estate investment trust on Aug. 31 after his employment agreement expired. Former CFO James M. Kasim resigned his post effective Sept. 4.

The REIT, which has been hit by the commercial real estate downturn, said it will conduct a formal search to fill each position. The REIT owns 23 office properties totaling 4.3 million square feet in the West Coast and Hawaii, and is the largest office building owner in Honolulu.

Shidler is founder and managing partner of the Shidler Group, a major Pacific Office Properties investor. Taff, a Shidler Group partner, is executive vice president of the REIT and a principal of its advisor, Pacific Office Management Inc.

Before the announcement, shares closed down 15 cents, or 4 percent, to $3.75 on the New York Alternet.

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