April 7, 2010 |
Maguire Properties Inc., the largest office landlord in downtown Los Angeles, on Tuesday rebuffed an offer from departed founder Robert F. Maguire to take over three of the company's best properties. Maguire is the real estate investment trust's largest shareholder, but he left the company in May 2008 and is no longer a member of the board of directors. In stern letters dated last week and Monday, Maguire criticized the current management of the company and implored his successor, Chief Executive Nelson Rising, to discuss Maguire's proposal with the board.
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.
November 17, 2009 |
Maguire Properties Inc., one of the region's largest commercial landlords, has been hit with a legal complaint by Bank of America Corp. seeking to foreclose on one of Maguire's prime Irvine office buildings. The bank's bid to appoint a receiver to sell the 16-story tower near John Wayne Airport wasn't surprising because Maguire said in August that it would stop making payments on it and six other properties. Still, the move to foreclose is significant in that it is among the first of a wave of defaults, write-downs and workouts anticipated as part of a long-awaited bottoming out of the commercial real estate market, industry observers say. After being stuck in place for nearly 18 months, the business of buying and selling properties such as offices, warehouses and shopping centers is expected to begin a purge in the months ahead as owners and lenders accept losses and move on. Office and retail properties will take the biggest hit as worried consumers curb spending and companies delay rehiring, according to a study released this month by consulting firm PricewaterhouseCoopers and the Urban Land Institute, a real estate industry trade group and think tank.
February 10, 1985
As stupid as it sounds, you are 100% right--I would not have read those pages unless "a reporter's curiosity nudged" me. (Hearst Castle story, Jan. 27.) Many, many thanks for the nudge and the article. More people than I would ever have imagined read the Times real estate section. All comments confirm the warmth and human interest that you put into the story. I think I'll read the rest of those old papers. WILLIAM LOORZ President, Stolte Inc. Bank's Role Cited We appreciated the story (Feb.
February 7, 1997 |
One of the biggest hurdles holding up the beleaguered Playa Vista/DreamWorks movie studio development was crossed Thursday when developer Maguire Thomas Partners agreed to negotiate exclusively with a Los Angeles-based financier aiming to arrange $200 million in financing. The developer said it will team with Pacific Capital Group, which beat out such competitors as Wall Street firms Morgan Stanley and Goldman, Sachs & Co. to form a new partnership to develop Playa Vista.
November 1, 1996 |
Call it a DreamWorks deferred. The much-touted Playa Vista project near Marina del Rey where Steven Spielberg, David Geffen and Jeffrey Katzenberg want to build a state-of-the-art lot for their fledging studio is running into lengthy delays, raising concerns in some quarters that it will never get off the ground. The frustration of the three has grown to the point where they've started checking out potential sites as a contingency plan, sources say.