June 16, 2009 |
Maguire Properties Inc., L.A.'s largest office building owner, has sold a newly built 19-story office tower on the Park Place campus in Irvine at a loss as part of ongoing efforts to reduce its debt. The buyer of 3161 Michelson Drive was the Emmes Group of Cos., a New York real estate investment firm whose chief executive, Andrew Davidoff, confirmed the purchase for $160 million.
April 14, 2009 |
Maguire Properties Inc., the largest office landlord in downtown Los Angeles, rejected a request Monday from Boston-based Winthrop Realty Trust to buy a larger stake in the real estate investment trust. After Winthrop announced its intentions, shares of Maguire jumped as much as 92% to $1.73 before closing at $1.25, up 35 cents. Los Angeles-based Maguire declined Winthrop's bid after the market closed. Winthrop, also a real estate investment trust, already owns 9.
March 28, 2009 |
Struggling office landlord Maguire Properties Inc. sold an Orange County building Friday for $22 million to one of the tenants at the Irvine complex, pharmaceutical company Allergan. Allergan, which makes Botox, eye-care solutions and other products, bought the building at 18581 Teller Ave. in a deal that allowed it to take over Maguire's $20-million mortgage on the property. The 88,000-square-foot building is part of Allergan's headquarters campus.
March 3, 2009 |
Los Angeles office landlord Maguire Properties Inc. more than doubled its loss in the fourth quarter of 2008 as it grappled with a softening commercial real estate market and wrote down the value of an Orange County building it hopes to sell. Revenue was also down from a year ago but improved slightly from the third quarter, which was a spot of good news for the real estate investment trust that owns some of Southern California's most recognizable buildings, including the U.S.
January 16, 2009 |
Maguire Properties Inc. founder Robert F. Maguire increased his stake in downtown Los Angeles' largest office landlord to 9.8% and said he might seek talks with the company, investors or potential partners. Maguire, 73, who quit Maguire Properties as chairman and chief executive in May, bought 1.56 million shares of the Los Angeles-based company's common stock for about $2.99 million from Dec. 9 through Jan. 13, he said Thursday in a filing with the Securities and Exchange Commission.
October 28, 2008 |
Los Angeles office landlord Maguire Properties Inc. reported its fourth consecutive quarterly loss Monday amid a softening commercial real estate market. The owner of premier office buildings in downtown Los Angeles, Orange County and San Diego lost $72.5 million, or $1.74 a share, in the third quarter. Maguire changed leadership in May. Founder Robert Maguire left the firm, though he is still its largest shareholder, and former Catellus Development Corp.