Meridian Point Realty Trust VIII Co. announces 1994 Operating Results

Business Wire, April 3, 1995

SAN FRANCISCO--(BUSINESS WIRE)--April 3, 1995--Meridian Point Realty Trust VIII Co. (ASE:MPH and MPHpr), an equity real estate investment trust, Monday announced operating results for the year ended Dec. 31, 1994.

The company generated funds from operations of $4,057,795, or $0.589 per share, and $3,838,520, or $0.558 per share for the years ended Dec. 31, 1994 and 1993, respectively. Funds from operations is the primary earnings measure for the REIT industry.

The increase in funds from operations during 1994 of $219,275 is primarily due to: (i) a decrease of over $230,000 in interest expense and (ii) and improved property operating results. The above improvements were offset by an increase in overhead expenses due to increased liability insurance.

As of Dec. 31, 1994, the company's properties were 100% occupied, compared with 94% at the end of 1993.

Meridian Point Realty Trust VIII Co. owns 25 industrial properties and one retail center totaling approximately 2.9 million square feet of leasable space. The properties are located in major markets in Illinois, California, Tennessee, Arizona, Mississippi, Texas, Michigan and Nevada.

Financial highlights for the company follow.

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