EOP Reports 2Q Loss

Equity Office Properties Trust, Chicago, has reported a net loss of $205.4 million ($0.51 per share) for the second quarter, compared with net income of $100.6 million ($0.25 per share) in the second quarter of 2004."Our second quarter results reflect our accelerated plan to sell $2 billion to $3 billion of nonstrategic assets, and to further position our portfolio in targeted markets," said Richard D. Kincaid, EOP's president and chief executive officer. He added that EOP is "starting to see the benefits of improved job growth and increased office occupancy in all of our markets." EOP, the largest office REIT by market capitalization, said the quarterly results include a $180.9 million noncash impairment charge related to an asset held for sale, and about $186 million of losses on assets sold. These charges amounted to $0.81 per share, EOP said. The REIT can be found online at http://www.equityoffice.com.