We continue to look for well located existing assets that will complement our existing portfolio, but as we've discussed before at this time in the cycle we have shifted our focus to development. To that end we commenced construction on Wilshire La Brea in October and expect to start the Sunnyvale Town Center site this month.Wilshire La Brea with 478 units and close to 40,000 square feet of retail has a total estimated cost of $276 million. Sunnyvale Town Center totaled 279 units and 22,000 square feet of retail and has an estimated cost of $124 million. With these two starts our current developments under construction will total in excess of $550 million.
BRE Properties's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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