MPG

Maguire Properties (MPG)

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MPG

Maguire Properties (MPG)

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motorcityAce Free

02/23/15 4:05 PM

Post #404

Re: #403: @motorcityAce - Someone is pumping this one

Hahaha people that own the company gotta be pumpin this.. no news no nothing ..people with money playing games..
What a joke...LOL lame

motorcityAce Free

02/22/15 3:25 AM

Post #403

Re: #402: @B-Money - Under the terms of the merger agreement, the

Someone is pumping this one

B-Money

04/25/13 9:39 AM

Post #402

Under the terms of the merger agreement, the holders of MPG’s common shares will receive $3.15

http://www.businesswire.com/news/home/20130425005537/en/MPG-Office-Trust-Enters-Agreement-Acquired-Affiliate

Apophis

03/11/13 9:42 AM

Post #401

Re: #400: @willlbone - Sold at $2.77 weeks ago, one cent under

NOT ALL THE TIME.

Another property sold, they are slimming down.

willlbone

03/07/13 9:59 AM

Post #400

Re: #399: @Apophis - Did you read the quarterly?

Sold at $2.77 weeks ago, one cent under the 200MA. Do you believe what you read?

Apophis

03/04/13 7:28 PM

Post #399

Re: #396: @willlbone - Buying $2.5. Thanks

Did you read the quarterly?

Apophis

02/15/13 10:11 AM

Post #398

Re: #396: @willlbone - Buying $2.5. Thanks

looks like the selling has stopped

Apophis

02/13/13 6:09 PM

Post #397

Re: #396: @willlbone - Buying $2.5. Thanks

wow

willlbone

02/13/13 1:36 PM

Post #396

Re: #395: @Apophis - Looks like more good news today

Buying $2.5. Thanks

Apophis

01/22/13 11:20 AM

Post #395

Looks like more good news today

Apophis

11/06/12 9:28 AM

Post #394

Re: #378: @B-Money - Good stuff I am very confident in my

looks like the losses are getting smaller? see if the market agrees in todays trading?

Apophis

10/16/12 1:00 PM

Post #393

Re: #382: @B-Money - Interesting Article:

This stock is fizzeling out?

Apophis

10/05/12 4:30 PM

Post #392

Re: #378: @B-Money - Good stuff I am very confident in my

Are you still in it?

Apophis

10/02/12 9:20 AM

Post #391

Re: #378: @B-Money - Good stuff I am very confident in my

More mortgage debt released

Apophis

09/27/12 12:58 PM

Post #390

Re: #345: @mick - hi my friend, decided to read here...is this

This is building a nice base that should put this past 4-5 at years end.

Apophis

09/18/12 1:19 PM

Post #389

http://ih.advfn.com/p.php?pid=nmona&article=54211729

nice lease deal

Apophis

09/18/12 1:17 PM

Post #388

MPG Office Trust Announces Disposition of 500 Orange Tower

Anpther 110 Million of debt now off the books

Apophis

09/13/12 4:11 PM

Post #387

Re: #378: @B-Money - Good stuff I am very confident in my

RATES HEADING LOWER IN THE USA AFTER TODAYS FED MEETING. I ASSUME MPG WILL TAKE ADVANTAGE TO RESTRUCTURE SOME LOANS?

Apophis

09/11/12 9:40 AM

Post #386

Institutions are buying in again

63.5% as of today

Apophis

09/10/12 12:49 PM

Post #385

Re: #382: @B-Money - Interesting Article:

I wish this would start jumping .25 - .50 instead of 5 cents every day?

Apophis

09/09/12 9:35 PM

Post #384

Re: #383: @Apophis - thanks for all that, we will have to

Never mind, no income then no book value?

Apophis

09/08/12 9:44 PM

Post #383

Re: #382: @B-Money - Interesting Article:

thanks for all that, we will have to sit tight to see what happens?

if it is a cash buyout what is the book value right now?

B-Money

09/08/12 8:01 PM

Post #382

Re: #381: @Apophis - I think we will be near $5.25 by

Interesting Article:

LOS ANGELES-As GlobeSt.com tweeted back in July, it has been rumored for some time now that MPG Office Trust was looking to sell its entire office portfolio totaling 8.2 million square feet next year. And although a sale isn't certain, a source we spoke with say that the indicators are pretty strong. The WSJ reported that the company has tapped real-estate adviser Eastdil Secured to search for firms to buy the company or make a significant cash investment. Both Eastdil and MPG did not respond to queries for comment on this article.

INDICATING FACTORS

The unidentified industry source with knowledge of the parties involved that we spoke with says that Eastdil has “come to market with a private offering memorandum for a ‘capital raise’ on the entire MPG Office portfolio.” With that said, our source points out that “a majority of potential investors would demand control of the portfolio and would not be interested in just providing capital to MPG, so the portfolio sale seems like the likely end game.”

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Another indicating factor our source points to is the end of the former MPG CEO Rob Maguire’s tax protection. According to a statement put out by MPG in late June, the REIT “received notices of redemption from Robert F. Maguire III and related entities requesting the redemption of 3.97 million operating partnership units. On July 24, 2012, the company issued 3.97 million shares of the company's common stock in exchange for these units. At Maguire's request, the company issued the common stock to a party not related to Maguire. The redemption of these units and subsequent issuance of the common stock to a party not related to Maguire causes Robert F. Maguire III and related entities to fall below the 50% ownership requirement set forth in his contribution agreement. Therefore, all tax protection in favor of him and related entities, as well as all remaining limited partners, will now expire on June 27, 2013. Therefore, pursuant to the terms of the contribution agreement, all tax protection relating to the buildings listed below will now expire on June 27, 2013: Gas Company Tower; US Bank Tower; KPMG Tower; Wells Fargo Tower; Plaza Las Fuentes.”

Our source says that that tax protection “acted as a roadblock to MPG selling ‘protected’ assets or the entire portfolio since his tax protection would require MPG to pay his tax liability if any of the tax protected assets were sold during the period in which the assets are protected.” And while the full extent of the tax liability on the protected assets isn't public information, it is rumored that it will exceed $100 million, “a liability the company could not incur with a sale” the source says.

According to our source, “if the ‘capital raise’ turns into a sale of the entire MPG portfolio, the sale could be scheduled to close on June 28, 2013, without MPG incurring any liability for Rob Maguire'’s tax position. As such, it is now far simpler for MPG to structure a sale to a capital partner/new owner.”

Another point our source tells GlobeSt.com is to look at the portfolio’s loan maturity dates. In July, MPG released a statement saying that it has extended the maturity date of its mortgage loan at KPMG Tower in Downtown Los Angeles for an additional one year, to October 9, 2013. In addition, according to an SEC filing, two other MPG assets, 777 Figueroa St. and 633 W. Fifth St. also have loan maturities in 2013.

According to our source, “Even though 777 and KPMG Tower are on the lower end of the spectrum for MPG’s loan to value on its various assets, the refinancing of these projects could be difficult and could require additional equity.” The firm’s recent one-year extension of its loan at KPMG Tower called for an equity pay down by MPG of $35 million. “With limited cash on hand, MPG would be better off shifting the entire portfolio to a buyer with capital as opposed to trying to work through the refinancings themselves,” our source says.

Earlier this year, GlobeSt.com reported that the company was aiming to reduce its debt, and on an earnings call, David Weinstein, president and CEO of MPG, said that the company ‘continues to make progress’ on that front. At the time, Weinstein expected occupancy in its portfolio to remain flat this year. “Not much has changed from last quarter in Downtown L.A.,” he said, when answering a participant’s query on the earnings call.

According to the L.A. Times, estimated buyers or investors could pay between $350 and $400 per square foot for KPMG, Wells Fargo, 777 or the Gas Co. towers. MPG’s advisers have indicated to potential buyers that they want the company to sell above the share price, according to a recent WSJ article. “That price recently has hovered around $3 a share, down from more than $44 in early 2007, with a market capitalization near $160 million,” the paper said. Our source says that based on market analysts reports, the equity value of MPG's assets ranges on the low end of $300 million to a high end of approximately $600 million.

WHY NOW?

Relative to the timing of the sale, there are a few factors that make this a good time for MPG to sell the portfolio, our source says. “Vacancy in Downtown L.A. is rising and it will top 20% in the very near future. Selling before the story gets a little worse could make for good timing.”

In addition, our source points out that there are a significant number of prospective buyers out there and “given that lower quality assets in Downtown L.A. have achieved ‘good’ recent sales numbers, it’s safe to say that there will be a good number of prospective buyers looking at the portfolio sale. More buyers equates to more competition and upward pressure on the valuation of the portfolio.”

Despite the rising vacancy, you could still put your “bull market” cap on and tell a story about how a new owner of MPG’s portfolio can spike rents, says our source. “Whether it be a current owner in Downtown L.A. or an out-of-market prospective buyer, you can make the case that with MPG’s 37% share of DTLA's premier market that you can feel safe in the knowledge that the other large Downtown owners are doing well and would likely follow suit if the new owner were to try to raise rates across Downtown L.A., similar to how Blackstone raised rates in West L.A.” He adds that the prospect of the NFL team and AEG stadium and the revitalized convention center business that GlobeSt.com has reported on make for a good story of “hope” after the massive investment that has been made to Downtown including its housing, metro rail, L.A. Live and more.

WHO ARE THE PROSPECTIVE BUYERS?

In late July via Twitter, we said that potential buyers could include companies like Hines, Brookfield Office Properties, Blackstone Group. The Wall Street Journal is also reporting that Piedmont Office Realty Trust, Colony Capital and Thomas Properties Group could also be in that mix.

According to our source, an existing Downtown owner like Brookfield and Thomas could be interested buyers because “they can add MPG's portfolio to their existing DTLA portfolio and have a commanding market share.” With such a market share, our source believes they could potentially not only push rates in the MPG buildings, but in their existing buildings as well.

An out-of-market buyer would be interested in the portfolio because of the market share that can be derived by buying into MPG with one fell swoop the MPG assets are world-class assets with world-renowned architects, and each of these buildings would sell for well below replacement cost, says our source. "With really no real office tower construction in Downtown for over two decades, it is safe to say that there will not be a great influx of new supply to the office market.”

Wells maybe taking some off the table $

http://ns1.insidertrading.org/index.php?filter_by_field=issuer_trading_symbol&filter_by_value=MPG

Apophis

09/05/12 2:45 PM

Post #381

Re: #378: @B-Money - Good stuff I am very confident in my

I think we will be near $5.25 by the end of the year

Maybe higher as institutional ownership expands?

I wonder why Wells Fargo is reducing ownership?

Apophis

09/03/12 6:37 PM

Post #380

Re: #379: @marketmakerz - MPG, talks about getting bought out... alot of

Are they looking for a buyer?

marketmakerz Free

08/31/12 9:49 PM

Post #379

MPG, talks about getting bought out... alot of big bidders... This will hit 4, then 5, then 6

B-Money

08/30/12 10:25 PM

Post #378

Re: #376: @Apophis - some of mine are now doubled

Good stuff I am very confident in my investment here.

Apophis

08/29/12 9:50 AM

Post #377

Re: #374: @Apophis - Institutional ownership dropped by 11%

WELLS FARGO BANK sold another 102,000 shares.

Other big institutions are buying in so it will be going up from here.

Apophis

08/28/12 5:20 PM

Post #376

Re: #366: @B-Money - Yep especially when I loaded the boat at

some of mine are now doubled

Apophis

08/24/12 10:37 AM

Post #375

Re: #374: @Apophis - Institutional ownership dropped by 11%

INSTITUTIONAL OWNERSHIP IS ON THE RISE AGAIN AT 62%

THIS MAY BE THE START OF SOMETHING BIG AS MORE SHARES ARE HELD BY THESE INSTITUTIONS?

6 YEARS AGO IT WAS 88%

Apophis

08/17/12 1:15 PM

Post #374

Re: #371: @B-Money - MPG Office Trust Reports Redemption of Partnership Units

Institutional ownership dropped by 11%

Wells Fargo is one of them, they sold 120,000 shares?

Apophis

08/15/12 10:37 AM

Post #373

Re: #365: @Apophis - nice pop today

This should be trading between $5-7 right now

Apophis

08/14/12 8:34 AM

Post #372

Re: #371: @B-Money - MPG Office Trust Reports Redemption of Partnership Units

It would be more of a positive if they had more refi activity then just disposing of assets?

B-Money

08/06/12 8:41 AM

Post #371

MPG Office Trust Reports Redemption of Partnership Units

http://phx.corporate-ir.net/phoenix.zhtml?c=136938&p=irol-newsArticle&ID=1722582&highlight=

B-Money

07/30/12 8:48 AM

Post #370

MPG Office Trust Stockholders Elect Directors at Annual Meeting

http://ih.advfn.com/p.php?pid=nmona&article=53638962&symbol=MPG

Apophis

07/28/12 12:26 PM

Post #369

Re: #368: @B-Money - Good Points on All. I think of the

Maybe they will wait for common to hit 10/share then convert out the prefered to pay them off?

B-Money

07/27/12 9:56 PM

Post #368

Re: #367: @Apophis - I bet you will see more buying on

Good Points on All. I think of the preferred stock here IMO as a fulcrum subordinated debt security, and you can analyze the common stock as warrants to capture any upside above the base return (if limited to a small portion of your overall position).

Apophis

07/27/12 11:45 AM

Post #367

Re: #366: @B-Money - Yep especially when I loaded the boat at

I bet you will see more buying on the last two hours of trading.

Institutional ownership is on the rise
insider ownership is also rising

one bad note is the prefered stock holders are not getting paid: they will have to issue more common shares to convert out of that 70 million dollar debt that is owed to MPG/PF? They have not paid them a dividend in 15 quarters.

B-Money

07/26/12 3:52 PM

Post #366

Re: #365: @Apophis - nice pop today

Yep especially when I loaded the boat at 1.69 again.

Apophis

07/26/12 10:37 AM

Post #365

Re: #364: @B-Money - MPG Office Trust Reports Redemption of Partnership Units

nice pop today

B-Money

07/26/12 8:52 AM

Post #364

MPG Office Trust Reports Redemption of Partnership Units and June 27, 2013 End of Tax Protection Period

http://ih.advfn.com/p.php?pid=nmona&article=53604773&symbol=MPG

B-Money

07/25/12 6:51 PM

Post #363

Re: #361: @B-Money - MPG Office Trust Reports Second Quarter 2012 Financial Results

Eliminating debts usually does not equal to higher profits Immediately. I look to see more maneuvers shoring things up to head north again. Not a Bad quater IMO.

Apophis

07/25/12 1:17 PM

Post #362

Re: #361: @B-Money - MPG Office Trust Reports Second Quarter 2012 Financial Results

lots of restructuring activity and writedowns. I would think with these efforts the bottom line would have been better? We will see what happens next quarter.

B-Money

07/24/12 10:20 AM

Post #361

MPG Office Trust Reports Second Quarter 2012 Financial Results

http://phx.corporate-ir.net/phoenix.zhtml?c=136938&p=irol-newsArticle&ID=1717440&highlight=

B-Money

07/18/12 1:27 AM

Post #360

Re: #359: @Apophis - This needs some steam to blow past $3

Going to be tough for the entire BIG board scene in the next few months. Slowly and surely IMO we will get past that then some all in good time.

Apophis

07/17/12 10:46 PM

Post #359

Re: #358: @B-Money - MPG Office Trust, Inc. to Release Second Quarter

This needs some steam to blow past $3 then $4, maybe the meeting next week will set the bar?

B-Money

07/13/12 5:32 PM

Post #358

MPG Office Trust, Inc. to Release Second Quarter 2012 Financial Results on July 23, 2012

http://ih.advfn.com/p.php?pid=nmona&article=53462161&symbol=MPG

B-Money

07/11/12 11:13 AM

Post #357

MPG Office Trust Announces Mortgage Loan Extension at KPMG Tower

http://ih.advfn.com/p.php?pid=nmona&article=53427828&symbol=MPG

B-Money

06/26/12 8:31 AM

Post #356

Re: #355: @Apophis - up today in a bad market

Not bad!

Apophis

06/25/12 6:46 PM

Post #355

Re: #354: @B-Money - Yup Good trading week until all the big

up today in a bad market

Older

Maguire Properties (MPG) (MPG)

Followers	8	Posters	48
Posts (Today)	0	Posts (Total)	404
Created	06/02/09	Type	Free
Moderators

MPG Office Trust, Inc.
355 South Grand Avenue
Suite 3300
Los Angeles, CA 90071
United States - Phone: 213-626-3300
Fax: 213-687-4758
Website: http://www.mpgoffice.com

MPG Office Trust, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business district and is primarily focused on owning and operating high-quality office properties in the Southern California market. MPG Office Trust, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing.

Team Profiles

David L. Weinstein
President and Chief Executive Officer; Director

Shant Koumriqian
Executive Vice President, and Chief Financial Officer

Peggy M. Moretti
Executive Vice President, Investor and Public Relations, and Chief Administrative Officer

Jonathan L. Abrams
Senior Vice President, General Counsel and Secretary

Peter K. Johnston
Senior Vice President, Leasing

Venture Partners
Maguire Properties and Macquarie Office Trust formed the Maguire Macquarie Office venture in January 2006 - now managed by the Charter Hall Group. The aggregate size of the initial Maguire Macquarie Office portfolio is nearly 4 million square feet and includes six assets: One California Plaza, Cerritos Corporate Center, Quintana, San Diego Tech Center, Wells Fargo Center in Denver and Stadium Gateway.

MPG Office Trust ,

Properties

Cerritos
Cerritos Corporate Center

Orange County

San Diego County
San Diego Tech Center

Denver
Wells Fargo Center

Prime Location : Down Town LA Sky Line and Map of Down town building's locations.

Map of Downtown Los Angeles

Leasing Information

213 626 3300

For more information
or to request additional materials, please e-mail
a representative below:

Josh G. Wrobel
Pat McRoskey
Rachael Zanetos
Lalo Diaz

MPG Office Trust Reports Third Quarter 2011 Financial Results
http://phx.corporate-ir.net/phoenix.zhtml?c=136938&p=irol-newsArticle&ID=1623883&highlight=

Organization and Description of Business

As used in these consolidated financial statements and related notes, the terms "MPG Office Trust," the "Company," "us," "we" and "our" refer to MPG Office Trust, Inc. Additionally, the term "Properties in Default" refers to our Stadium Towers Plaza, 500 Orange Tower, Two California Plaza and Glendale Center properties, whose mortgage loans were in default as of March 31, 2012 and where our ultimate goal is to exit the assets.

We are a self-administered and self-managed real estate investment trust ("REIT"), and we operate as a REIT for federal income tax purposes. We are the largest owner and operator of Class A office properties in the Los Angeles Central Business District ("LACBD").

Through our controlling interest in MPG Office, L.P. (the "Operating Partnership"), of which we are the sole general partner and hold an approximate 88.7% interest, and the subsidiaries of our Operating Partnership, including MPG TRS Holdings, Inc., MPG TRS Holdings II, Inc., and MPG Office Trust Services, Inc. and its subsidiaries (collectively known as the "Services Companies"), we own, manage and lease real estate located in the greater Los Angeles area of California and Orange County, California. These locales primarily consist of office properties, parking garages and land parcels.

On March 30, 2012, the Company, together with Charter Hall Office REIT ("Charter Hall"), sold its interests in Wells Fargo Center, located in Denver, Colorado, and San Diego Tech Center, located in San Diego, California (each of which was a joint venture property) to affiliates of Beacon Capital Partners, LLC ("Beacon Capital"). Subsequent to the property dispositions, Charter Hall sold its 80% interest in the joint venture to an affiliate of Beacon Capital.

The Company entered into a new joint venture agreement with Beacon Capital related to MPG Beacon Venture, LLC (the "joint venture"). Under this agreement, the joint venture will continue to own One California Plaza, located in downtown Los Angeles, Cerritos Corporate Center, located in Cerritos, California, and Stadium Gateway, located in Anaheim, California (which is currently under contract for sale, subject to customary closing conditions). The new joint venture agreement provides for a three-year lockout period, during which time neither partner will have the right to exercise the marketing rights under the new joint venture agreement. The Company continues to maintain a 20% interest in the joint venture.

As of March 31, 2012 , our Operating Partnership indirectly owns whole or partial interests in 16 office properties, off-site parking garages, and on-site structured and surface parking (our "Total Portfolio"). We hold an approximate 88.7% interest in our Operating Partnership, and therefore do not completely own the Total Portfolio. Excluding the 80% interest that our Operating Partnership does not own in the joint venture, our Operating Partnership's share of the Total Portfolio is 9.9 million square feet and is referred to as our "Effective Portfolio." Our Effective Portfolio represents our Operating Partnership's economic interest in the office properties and parking garages from which we derive our net income or loss, which we recognize in accordance with U.S. generally accepted accounting principles ("GAAP"). The aggregate square footage of our Effective Portfolio has not been reduced to reflect our limited partners' 11.3% share of our Operating Partnership.

Share Structure:

Common stock, 100,000,000 shares authorized;
50,754,943 outstanding

at March 31, 2012