Bedford Property Investors corrects and replaces previous purchase announcement.LAFAYETTE, Calif.--(BUSINESS WIRE)--January 9, 1995--Bedford Property Investors Incorporated (NYSE NYSE See: New York Stock Exchange :BED) announced that it has signed a definitive agreement to acquire substantially all of the real estate assets of Mission West Properties (ASE/PSE:MSW (MicroSoft Word) See Microsoft Word. ), a San Diego based owner of industrial and office properties. The agreement is conditioned on the satisfactory completion of the company's due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and financing process, and is scheduled to close during the first quarter of 1995. The definitive agreement is subject to approval of the shareholders of Mission West Properties. The transaction is valued at approximately $45 million, $10.9 million in cash and the assumption of $34.1 million in debt. The Mission West portfolio consists of commercial office and industrial buildings in Southern California and Arizona, as well as an airport hangar facility in San Diego. Bedford Property Investors Inc. is a self-administered equity real estate investment trust with investments in industrial and suburban office buildings concentrated in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . It is traded on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Pacific Stock Exchanges under the symbol "BED". CONTACT: Peter B. Bedford
Jay Spangenberg
510/283-8910
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