BETWEENInvestment Agreement • January 14th, 1997 • Pacific Gulf Properties Inc • Real estate investment trusts • New York
1 Exhibit 99.4 OPERATING AGREEMENT OPERATING AGREEMENT, dated as of January __, 1996, between Pacific Gulf Properties Inc., a Maryland corporation (the "Company"), and Five Arrows Realty Securities L.L.C., a limited liability company organized under...Operating Agreement • January 14th, 1997 • Pacific Gulf Properties Inc • Real estate investment trusts • New York
