EOPT Trustees Resign

Craig G. Vought and John A. Foster have resigned from the board of trustees of Equity Office Property Trust, a real estate investment trust based in Chicago.The office REIT said the two will be pursuing commercial real estate investments through Broadreach Capital Partners, a newly formed San Jose, Calif.-based venture that will focus on investments in the Western United States. Mr. Vought and Mr. Foster, formerly co-chief executive officers of Spieker Properties, joined the EOPT board in July 2001 after the two companies merged, EOPT said. According to a report in the Silicon Valley Business Journal, Broadreach Capital has raised about $233 million and is targeting distressed commercial real estate properties in Silicon Valley and the Western United States that are poised for recovery. EOPT can be found online at http://www.equityoffice.com.