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Maguire Properties Inc

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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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.
BUSINESS
June 25, 2003 | Roger Vincent, Times Staff Writer
Los Angeles real estate mogul Robert F. Maguire capped a tumultuous drive to take his company public Tuesday, raising nearly $700 million in an initial public stock offering of Maguire Properties Inc. The company sold 36.5 million shares at $19 each, at the low end of the range Maguire was seeking. It will begin trading today on the New York Stock Exchange under the symbol MPG.
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.
BUSINESS
July 27, 2004 | Roger Vincent, Times Staff Writer
Los Angeles developer Maguire Properties Inc. has nearly doubled its bet on Orange County with the $215-million purchase of 90 acres around the former Fluor Corp. headquarters in Irvine, it was announced Monday. The acquisition includes 317,000 square feet of office and retail space, plus two parking garages.
BUSINESS
February 19, 2007 | Roger Vincent, Times Staff Writer
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.
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
January 29, 2005 | Roger Vincent, Times Staff Writer
Maguire Properties Inc. has agreed to buy 10 office complexes in the Western U.S. from CommonWealth Partners for $1.51 billion, the parties said Friday. Included in the 5-million-square-foot portfolio are such signature buildings as 777 Tower on Figueroa Street in downtown Los Angeles, 801 N. Brand Blvd. in Glendale and Pacific Arts Plaza in Costa Mesa. Three office complexes in San Diego County are also part of the deal. The purchase expands Maguire's holdings outside the Los Angeles area.
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