American Industrial Properties Reit - IND- Profile

American Industrial Properties Reit. The principal activity of the Group is to own and operate commercial real estate properties consisting of industrial properties, office buildings and two retail properties. The light industrial sector is characterized as office showroom, service center and flex properties. The light industrial properties are leased for office, office showroom, warehouse, distribution, research and development, and light assembly purposes. The retail properties are leased to retail merchandise establishments, restaurants and a cinema. As of 31-Dec-2000, the Trust directly or indirectly owned a portfolio of 70 real estate properties. The Trust has qualified as a real estate investment trust for federal income tax purpose since 1985 and intends to maintain its REIT qualification in the future. Rental income accounted for 81% of 2000 revenues and tenant reimbursements, 19%.