The Company remains committed to creating long-term value through a targeted development program, focused on core in-fill submarkets, appropriately sized for the balance sheet. BRE continues to review potential development opportunities and expects to target a stabilized development program going forward within a range of 10% to 15% of its real estate portfolio base.As of December 31, 2012, the Company’s active and wholly-owned development pipeline has a total estimated cost of $770 million, of which approximately $395 million remains to be funded through the first quarter of 2015. The active and wholly-owned pipeline consists of the Company’s Aviara, Solstice, Wilshire La Brea, Redwood City and Mission Bay projects.
BRE Properties Reports Fourth Quarter And Full Year 2012 Results
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