Pacific Office Properties Hires CFO

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Pacific Office Properties Trust Inc. on Wednesday said it had named James Wolford its chief financial officer. The announcement follows the hiring of a permanent chief executive earlier this week.

Wolford, who will join the company April 5, has been CFO of Bixby Land Co., a private REIT with assets of over $1 billion, for the past six years. He previously had several years of similar experience in the industry.

Wolford “has an exceptional track record in the real estate finance sector, along with outstanding financial acumen and leadership skills that will allow us to execute our growth strategy,” said Chief Executive James Ingebritsen.

Ingebritsen, a co-founder and major shareholder, was named CEO on Monday. He is an owner and director of the Los Angeles real estate investment trust’s external advisor, Pacific Office Management Inc.

Wolford and Ingebritsen replace former CEO Dallas E. Lucas and former CFO James M. Kasim, both of whom resigned late last summer.

Pacific Office Properties’ portfolio in Los Angeles, Honolulu, San Diego and Phoenix, comprises 40 office buildings totaling 4.3 million leasable square feet. Some of the properties are owned with other investors. About 60 percent of its holdings are in Honolulu.

Shares were unchanged at $4.17 in midday trading on the New York Alternet.

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