Shareholder pressure prompts Maguire to sell building

07/9/2008 | CoStar Group · Reuters

Maguire Properties agreed to sell its 607,000-square-foot Main Plaza office property in Orange County, Calif., for $211 million, or $347.61 per square foot, to Shorenstein Properties LLC. The sale comes as Maguire tries to free itself of property and debt. Hedge funds Third Point LLC and JMB Capital Partners LP, two of Maguire's largest shareholders, have increased pressure on the company after watching Maguire shares fall 65% in the past year.

View Full Article in:

CoStar Group · Reuters

Published in Brief: