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EX-99.1 - PRESS RELEASE DATED 12/16/2009 - MPG Office Trust, Inc.ex99_1.htm
 


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
__________________
 
FORM 8-K
__________________

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
December 16, 2009
__________________
 
Maguire Properties, Inc.
(Exact name of registrant as specified in its charter)
__________________


Maryland
(State or other jurisdiction
of incorporation)
001-31717
(Commission File Number)
04-3692625
(IRS Employer
Identification Number)

355 South Grand Avenue, Suite 3300
Los Angeles, California
(Address of principal executive offices)
 
90071
(Zip Code)

(Registrant’s telephone number, including area code)
213-626-3300

N/A
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 
 
 
 
Section 7 – Regulation FD
   
Regulation FD Disclosure.
   
On December 16, 2009, Maguire Properties, Inc. (the “Company”) issued a press release announcing that it had completed the disposition of the Lantana Media Campus located in Santa Monica, California, a copy of which is furnished as Exhibit 99.1 herewith.

Exhibit 99.1 is being furnished pursuant to Item 7.01 and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section.  The information in this Item 7.01 shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
   
Other Events.
 
On December 16, 2009, the Company announced that it had completed the disposition of the Lantana Media Campus located in Santa Monica, California in transactions involving two separate buyers.  The value of these transactions totaled approximately $200 million.  We received proceeds of approximately $195 million, net of transaction costs, of which approximately $176 million was used to repay the balances outstanding under the mortgage and construction loans secured by Lantana Media Campus, with the remaining $19 million to be used for general corporate purposes.  We have no further obligations with respect to the mortgage and construction loans on the property.  Additionally, our Operating Partnership has no further obligation to guarantee the repayment of the construction loan.  We expect to record a non-cash impairment charge of approximately $26 million during the three months ending December 31, 2009 in connection with these transactions.
 

Section 9 – Financial Statements and Exhibits
   
Financial Statements and Exhibits.

(a)           Financial statements of businesses acquired: None.

(b)           Pro forma financial information: None.

(c)           Shell company transactions: None.

(d)           Exhibits:

The following exhibit is furnished with this Current Report on Form 8-K:

Exhibit No.
 
Description
     
99.1*
 
Press release dated December 16, 2009 regarding the disposition of the Lantana Media Campus
__________
*
Furnished herewith.
   



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

  MAGUIRE PROPERTIES, INC.
  Registrant
   
 
/s/
JONATHAN L. ABRAMS
   
Jonathan L. Abrams
   
Senior Vice President,
General Counsel and Secretary



Dated:     December 18, 2009