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Pacific Gulf Properties to Build in Sacramento

Dow Jones

Newport Beach-based Pacific Gulf Properties Inc. said it purchased about 4.8 acres in Sacramento for about $1.1 million and plans to build 166 apartment units geared to tenants 55 and older. The property was acquired from Lucas Development.

Pacific Gulf, a real estate investment trust, said it expects construction to begin in the next three months and to be completed in the summer of 2001.


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