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Maguire Properties Inc

BUSINESS
September 13, 2003 | Roger Vincent, Times Staff Writer
Los Angeles real estate investment trust Maguire Properties Inc. has agreed to buy One California Plaza, a Bunker Hill high-rise in a deal valued at $225 million. Metropolitan Life Insurance, also known as MetLife Inc., is selling the mirrored 42-story tower at the northeast corner of 4th Street and Grand Avenue in downtown Los Angeles, industry sources said Friday. It was built in 1985.
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BUSINESS
February 9, 2005 | Roger Vincent, Times Staff Writer
Los Angeles office landlord and developer Maguire Properties Inc. on Tuesday reported modestly higher operating income but lower earnings for the fourth quarter. Funds from operations, a key measure of profitability for real estate investment trusts such as Maguire, were $22.2 million, or 52 cents a share, in the three months ended Dec. 31. That compared with $21.2 million, or 50 cents, a year earlier. Net income fell to $1.
BUSINESS
August 13, 2003 | Roger Vincent, Times Staff Writer
Talk about short-term results. Maguire Properties Inc., which went public in late June, reported second-quarter results Tuesday -- all four days' worth. The Los Angeles real estate investment trust run by developer Rob Maguire raised $790 million in a June 26 initial public stock offering, four days before the close of its second quarter. And in a move rarely seen on Wall Street, the company reported results from those 96 hours.
BUSINESS
May 5, 2004 | Roger Vincent, Times Staff Writer
Maguire Properties Inc. said Tuesday that it earned a first-quarter profit of $5.9 million, or 14 cents a share, in its third full quarter of operation as a public company. The Los Angeles real estate investment trust reported first-quarter revenue of $73 million for the period ended March 31. Income from operations, a key measure of profitability for REITs, was $19.4 million, or 46 cents a share, falling 4 cents short of Wall Street estimates.
BUSINESS
November 6, 2003 | Roger Vincent, Times Staff Writer
Maguire Properties Inc., reporting results from its first full quarter of operation as a public company, showed a profit of $7.2 million, or 17 cents a share. The Los Angeles real estate investment trust reported third-quarter revenue of $62.5 million for the period ended Sept. 30. Income from operations, a key measure of profitability for REITs, was $20 million, or 48 cents a share, beating Wall Street's estimate by 1 cent.
BUSINESS
December 9, 2005 | Roger Vincent, Times Staff Writer
Richard I. Gilchrist, seen as a steadying influence with investors in his role as president and co-chief executive of Maguire Properties Inc., will resign from the Los Angeles-based office real estate investment trust, the company said Thursday. Gilchrist, 59, will step down Jan. 1 and then serve as an advisor on the company's development projects for six more months.
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.
BUSINESS
November 3, 2004 | Roger Vincent, Times Staff Writer
Maguire Properties Inc., the biggest office landlord in downtown Los Angeles, said Tuesday that its funds from operations improved slightly in the third quarter as its net income fell. The company also announced that it had agreed to buy a 12-acre office campus in Santa Monica for $136.8 million. Income from operations, a key measure of profitability for real estate investment trusts such as Maguire, increased to $21.
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
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.
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