SAN DIEGO COUNTY - News from April 20, 1989

Burnham Pacific Properties, a San Diego-based real estate investment trust, reported a first-quarter profit of $857,000 on revenue of $4.9 million, compared with a loss of $7,000 on revenue of $2.2 million for the same three months last year.

President Louis Garday attributed the improvement to the REIT’s growth program over the past two years that has included a merger with another trust, a series of new property acquisitions and three public stock offerings.