Building sale lifts Pacific Office to 2Q profit

The Honolulu firm's $1.6 million gain reverses its fortunes from a year earlier

By Andrew Gomes

POSTED: 01:30 a.m. HST, Aug 11, 2012

~~<p>Pacific Office Properties Trust Inc. earned a $1.6 million profit in the three months ended June 30, dramatically reversing an $11.5 million net loss in the same period a year ago.</p>
<p>It was the second profit in three quarters for the Honolulu-based company, though the firm achieved the most recent gain by selling one of its office buildings, according to a financial report filed with the Securities and Exchange Commission on Friday.</p>
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Pacific Office Properties Trust Inc. earned a $1.6 million profit in the three months ended June 30, dramatically reversing an $11.5 million net loss in the same period a year ago.

It was the second profit in three quarters for the Honolulu-based company, though the firm achieved the most recent gain by selling one of its office buildings, according to a financial report filed with the Securities and Exchange Commission on Friday. Login for more...