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Maguire Properties Inc

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BUSINESS
August 4, 2004
* Maguire Properties Inc., another Los Angeles office landlord, reported profit of $4.3 million, or 10 cents a share. The company had revenue of $81.2 million. The company was public for only four days of last year's second quarter, so year-to-year comparisons are invalid.
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BUSINESS
July 29, 2008 | Roger Vincent, Times Staff Writer
Los Angeles office landlord Maguire Properties Inc., which emerged in May from a nearly yearlong takeover battle, reported its third consecutive quarterly loss Monday. The real estate investment trust, or REIT, which owns many premier office buildings in downtown Los Angeles and Orange County, lost $110.6 million in the second quarter. It also saw the departure of founder Robert Maguire in May after the board of directors rejected his bid to buy the company and appointed new managers.
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BUSINESS
February 21, 2007
Maguire Properties Inc. formally announced that it agreed to buy for $2.88 billion all of the real estate in downtown Los Angeles and Orange County that Blackstone Group acquired in its takeover of Equity Office Properties Trust.
BUSINESS
May 20, 2008 | Roger Vincent, Times Staff Writer
The turnaround specialist who took control Monday of the largest office landlord in downtown Los Angeles has already earned a merit badge in rescuing troubled California businesses. But Nelson Rising may face his toughest challenge in reviving Maguire Properties Inc., the company that built some of the tallest buildings in the West and played a major role in redefining the city's skyline.
BUSINESS
April 11, 2007 | From Bloomberg News
Maguire Properties Inc. agreed to sell Pacific Center and Wateridge Plaza in San Diego County for $298 million. Maguire expects the sale of the two office properties to close in the second quarter, the Los Angeles-based company said. Maguire didn't name the buyer. The proceeds will help pay for $2.88 billion in Los Angeles and Orange County buildings that Maguire bought from Blackstone Group.
BUSINESS
January 16, 2004 | From a Times Staff Writer
Maguire Properties Inc., the largest office landlord in downtown Los Angeles, said Thursday that it raised $225 million by selling 9 million shares of preferred stock, 50% more than planned. The company is expected to use the money to buy more properties in Southern California.
BUSINESS
February 28, 2007 | From Bloomberg News
Maguire Properties Inc. appointed Martin A. Griffiths chief financial officer, replacing Dallas Lucas, who is leaving the firm. Lucas resigned from Los Angeles-based Maguire Properties effective March 2 "to pursue other interests," the company said. Griffiths has been executive vice president responsible for operations since July. He previously worked at Deloitte Tax and Arthur Andersen.
BUSINESS
December 13, 2007 | Roger Vincent, Times Staff Writer
A corporate battle for control of the largest office landlord in downtown Los Angeles picked up steam after Maguire Properties Inc. said it would consider a sale of the company. Its stock jumped nearly 12% Wednesday on the news. At the center of the tussle is the firm's flamboyant founder, Robert F. Maguire, who has a reputation as a real estate visionary and autocratic leader.
BUSINESS
March 5, 2005 | From Dow Jones/Associated Press
Maguire Properties Inc. said its operating partnership unit, Maguire Properties L.P., signed a definitive agreement with CalWest Industrial Holdings to acquire San Diego Tech Center for $185 million in cash. The Los Angeles-based commercial property and management company said tenants of the property included Qualcomm Inc. and Broadcom Corp.
BUSINESS
May 4, 2005 | From a Times Staff Writer
Maguire Properties Inc., the largest owner of downtown Los Angeles office buildings, said first-quarter funds from operations rose 4.1% to $20.2 million, or 47 cents a share. Revenue at the real estate investment trust rose 33%, to $92.4 million, thanks to a 53% jump in rental income.
BUSINESS
May 7, 2008 | Roger Vincent, Times Staff Writer
Maguire Properties Inc., the largest office landlord in downtown Los Angeles, reported a quarterly loss Tuesday as the company continued to cope with heavy debt and questions about who would control it in the future. The real estate investment trust, or REIT, which owns many premier downtown office buildings, has been at the center of a power struggle for several months.
BUSINESS
April 29, 2008 | Roger Vincent, Times Staff Writer
Downtown Los Angeles skyline boss Robert Maguire, fighting to keep control of the real estate investment trust he founded, on Monday made a complicated offer to buy the company and sell off many of its signature holdings, perhaps including the tallest building in the West. But his offer to buy back Maguire Properties Inc. was quickly rebuffed by key members of the board of directors, who said the proposal had too many ifs.
CALIFORNIA | LOCAL
April 26, 2008 | Tony Barboza, Times Staff Writer
An Irvine planning commissioner and a retired police officer sued the city this week, challenging a closed-door "settlement agreement" with a high-rise developer as questions have arisen about the builder's support of City Council members who approved it. The Irvine City Council in January approved the agreement to resolve a dispute with Maguire Properties, a Los Angeles real estate developer known for the 72-story US Bank Tower downtown.
BUSINESS
March 29, 2008 | Tiffany Hsu, Times Staff Writer
Maguire Properties Inc., one of Southern California's largest real estate investment trusts, said Friday that it was no longer looking for a buyer. Its stock tumbled 16% on the news. Saying it received no viable acquisition proposals since it began to consider bids in December, Maguire blamed a credit crunch that has made it difficult for private equity investors to obtain financing for buyouts.
BUSINESS
February 23, 2008 | Roger Vincent, Times Staff Writer
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.
BUSINESS
February 6, 2008 | Roger Vincent, Times Staff Writer
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.
BUSINESS
December 13, 2007 | Roger Vincent, Times Staff Writer
A corporate battle for control of the largest office landlord in downtown Los Angeles picked up steam after Maguire Properties Inc. said it would consider a sale of the company. Its stock jumped nearly 12% Wednesday on the news. At the center of the tussle is the firm's flamboyant founder, Robert F. Maguire, who has a reputation as a real estate visionary and autocratic leader.
BUSINESS
November 14, 2007 | Roger Vincent, Times Staff Writer
Maguire Properties Inc., one of Southern California's largest office landlords, got a letter from a major shareholder Tuesday requesting two seats on the board of directors and calling for founder Robert Maguire to relinquish some of his control. Maguire, one of the region's best-known developers, helped create the downtown Los Angeles skyline and his company owns the most office space in the central business district. Among its holdings is US Bank Tower, the tallest building in the West.
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