Maguire Properties' founder offers to buy buildings: report
NEW YORK |
NEW YORK (Reuters) - Robert Maguire III, founder and former chief executive of Maguire Properties Inc (MPG.N), is offering to buy three of the company's buildings he believes are at risk of default, according to the Wall Street Journal.
Maguire offered to take on the loans for three Southern California buildings: the KPMG Tower, U.S. Bank Tower and Plaza Las Fuentes, the newspaper said. Maguire proposed his offer in a letter to Chief Executive Nelson Rising, the WSJ reported, citing an interview with Rising.
Rising told the newspaper he has no plans to sell the KPMG or U.S. Bank towers. He said Plaza Las Fuentes was currently not on the market but he would consider selling it, according to the WSJ.
Los-Angeles based Maguire Properties is an office real estate investment trust.
(Reporting by Elinor Comlay; Editing by Valerie Lee)
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