Robert F. Maguire III is planning a bid for the remaining Los Angeles office buildings owned by MPG Office Trust Inc., the company he helped found in 1965 and left 43 years later. The shares rose the most in eight months.
Maguire Properties Inc., the largest office landlord in downtown Los Angeles, is in discussions to extend loans on buildings in Irvine and Glendale, California, Chief Executive Officer Nelson Rising said.
Investors are bidding up prices for top-tier office buildings in Orange County, California, even as vacancies stand at almost 20 percent after the collapse of the subprime-mortgage industry that once made the region its home.
Dune Real Estate Partners and Ocean West Capital Partners, two closely held property investors, paid about $70 million for a 16-story office building in Orange County, California, that was under receivership.
Blackstone Group LP may reach an agreement by the end of the year to restructure $4.94 billion of debt remaining from its 2007 purchase of Sam Zell ’s Equity Office Properties Trust, according to two people familiar with the discussions.