[minesweeper]

BRE put out a press release tonight:

SAN FRANCISCO, March 12, 2014 /PRNewswire/ -- BRE Properties, Inc. (NYSE: BRE), a leading owner, operator and developer of high-quality apartment communities in targeted growth markets in California and Seattle, today confirmed that a fire occurred at its MB360 development project in the Mission Bay area of San Francisco.

At this time, the cause of the fire is not known and no injuries have been reported.

The Company issued the following statement:

At about 5:00 pm today, a fire occurred at Block 5 of our MB360 development project located in the Mission Bay district of San Francisco. The structure contains 172 units under construction. Fire and police officials are on the scene and working to contain the fire. Thankfully, the project was safely evacuated and all associates and contractors have been accounted for. The safety of our associates, contractors and the community is our number one priority. Our Block 11 site which is part of the MB360 development project and contains 188 units under construction was not affected. We extend our thanks and gratitude to the fire and emergency services personnel for their rapid response.

We are currently assessing the situation, including the cause of the fire, and we will be consulting with the appropriate authorities.

We carry comprehensive insurance coverage for events such as this including hard cost replacement, soft costs and loss of revenue. We believe any losses to the Company caused by the fire should be covered by insurance and will not have a material effect on our financial condition , operating results, or pending merger transaction.