The Shidler Group Purchases 19-Building Office Portfolio for $142 Million

The Shidler Group Purchases 19-Building Office Portfolio for $142
Million 


SAN DIEGO, Jan. 5  /PRNewswire/ -- The Shidler Group has purchased a
19-building, 1.1 million-square-foot portfolio of office and R&D buildings in
San Diego and Los Angeles for $142 million.  The seller is Arden Realty, Inc.

Matt Root, a Partner in The Shidler Group, said, "This is our third major
portfolio acquisition of 2004, capping off a year in which we completed more
than $1 billion in transactions.  We continue to find tremendous value in
Southern California, where a diversified economy and improved business climate
make us extremely bullish about the future of office and high-technology
properties."

Ten of the buildings are located in three business and technology parks in San
Diego:

Activity Business Center, five buildings totaling 156,887 square feet at 9235,
9245, and 9265 Activity Rd. and 9520 and 9530 Padgett St. (92126);

Morehouse Tech Center I, II & III, three buildings encompassing 182,127 square
feet at 5510, 5550 and 5590 Morehouse Dr. (92121);

Waples Tech Center I & II, two buildings totaling 27,974 square feet at 9565
and 9951 Waples St. (92121).

The remaining nine buildings are located in the greater Los Angeles area:

Long Beach Properties, two buildings consisting of 131,265 total square feet at
1501 Hughes Way and 3901 Via Oro Ave. in Long Beach (90810);

South Bay Tech Center, two buildings containing 106,106 square feet at 680 and
690 Knox St. in Torrance (90502);

Whittier Financial Center, two buildings encompassing 143,339 square feet at
15111 E. Whittier Blvd. in Whittier (90603);

91 Freeway Center, one 91,295-square-foot building at 17100 Pioneer Blvd. in
Artesia (90701);

Glendale Corporate Center, a 114,450-square-foot building at 425 E. Colorado
Blvd. in Glendale (91205); and

Norwalk Corporate Center, a 121,145 square foot building at 12501 Imperial
Highway in Norwalk (90650).

Both sides in the transaction were represented by Secured Capital Corporation.

The Shidler Group is a national real estate organization that actively acquires
commercial real estate for its own account.  It currently owns and operates
over 8 million square feet of commercial property throughout Texas, Arizona,
Hawaii and Southern California.  Since its founding in 1972, The Shidler Group
and its affiliates have facilitated the acquisition of over 145 million square
feet of commercial property.

Arden Realty, Inc. is a self-administered and self-managed real estate
investment trust traded on the New York Stock Exchange under the symbol ARI.
Based in West Los Angeles, Arden is a fully integrated real estate company and
the largest landlord of office buildings in Southern California.  Arden has a
portfolio of 120 properties consisting of 192 buildings and approximately 18
million net rentable square feet.  The company's in-house operations include
leasing, property and asset management, construction, development and
acquisition.

FOR INFORMATION:  Matt Root [phone] Ext. 239 or

Dan Peoples [phone] 

DATASOURCE: The Shidler Group



CONTACT:  Matt Root of The Shidler Group, [phone], ext. 239; or

Dan Peoples, [phone], for The Shidler Group

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