Jay Shidler is no stranger to the publicly traded REIT industry and has been the mastermind behind successful REIT ventures in the past. Now, Shidler has recruited Dallas E. Lucas, former chief financial officer with Maguire Properties Inc. (NYSE: MPG) to launch Pacific Office Properties Trust, Inc., a REIT that will focus on office properties in the high-growth Honolulu, Los Angeles, Phoenix and San Diego markets.

In the midst of the privatization trend, Shidler is planning to go public with a REIT that will be created from the purchase of a 10-property, 2.8 million square foot portfolio of six office properties in Honolulu, and two properties each in San Diego and Phoenix. Shidler says it plans to target additional growth in its existing markets.