February 6, 2008 |
Maguire Properties Inc., a Los Angeles real estate investment trust under siege from some of its largest investors, reported a wider fourth-quarter loss Tuesday as its interest payments ate into earnings. The company's loss climbed to $44.5 million, or 95 cents a share, from a year-earlier loss of $8.77 million, or 19 cents. Funds from operations, a key measure of REITs' performance, fell to $7.76 million, or 14 cents a share, from $32.9 million, or 60 cents, a year earlier.
July 4, 2000 |
Raising its profile among West Coast developers, Brookfield Homes of California Inc. said it will take control of the home-building operations of Catellus Development Corp. for $147.5 million in cash. Brookfield, the Costa Mesa subsidiary of Toronto-based Brookfield Properties Corp., will manage a new limited-liability company that will own 900 Catellus lots in 16 projects, primarily in Orange County. Catellus, one of the largest developers in the West, will retain a $22.
February 23, 2008 |
Shares of Maguire Properties Inc., the biggest office landlord in downtown Los Angeles, rose 8.6% on Friday amid speculation that bidders vying to buy the company would raise its value. Since late last year the real estate investment trust based in Santa Monica has been under attack from investors who want Robert Maguire, the 72-year-old chairman and chief executive, to step down or sell the debt-laden company.
November 20, 2006 |
Chicago real estate tycoon Sam Zell agreed Sunday to sell his Equity Office Properties Trust, the nation's largest office portfolio, to the world's biggest buyout fund for about $20 billion in the largest real estate deal of all time. The buyer is Manhattan-based Blackstone Group, one of the most active real estate investors in the world with about 2,450 properties valued at more than $43 billion before the Equity Office acquisition.
July 11, 2006 |
Kimco Realty Corp., a leader in purchasing, developing and operating shopping centers anchored by supermarkets, said Monday that it would buy Pan Pacific Retail Properties Inc. for about $2.9 billion, beefing up its presence in the Western United States. The deal continues nearly two years of rapid acquisition activity in the U.S. real estate investment trust sector, and came a day after Australia's Centro Properties Group agreed to buy mall owner Heritage Property Investment Trust Inc. for $1.
February 19, 2007 |
In a blockbuster deal, Maguire Properties Inc. will pay about $3 billion to acquire 23 office buildings in Los Angeles and Orange counties from New York investment firm Blackstone Group -- including the 52-story Two California Plaza in downtown L.A., according to people familiar with the purchase. The deal would be the second-largest office transaction in Southern California history, after the $3.2-billion acquisition of Arden Realty last year by General Electric Co.