Shareholders of Burnham American Properties and Burnham...

Shareholders of Burnham American Properties and Burnham Pacific Properties have approved the merger of the two San Diego-based real estate investment trusts. Under terms of the agreement effective June 14, Burnham Pacific will exchange 846,000 of its shares for 972,400 of Burnham American shares. The remaining company will have assets of $100 million, including 12 commercial properties in San Diego and one in Los Angeles.