DALLAS, March 24, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Maguire Properties Inc. (NYSE:MPG). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/MPG
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Maguire Properties Inc. (MPG) is a self-administered and self-managed real estate investment trust (REIT). The Company is the owner and operator of Class A office properties in the Los Angeles Central Business District (LACBD) and is primarily focused on owning and operating office properties in the high-barrier-to-entry Southern California market. Through its controlling interest in Maguire Properties L.P. (the Operating Partnership), of which the Company is the sole general partner and holds an approximate 87.8% interest, and the subsidiaries of its Operating Partnership, including Maguire Properties TRS Holdings Inc., Maguire Properties TRS Holdings II Inc., and Maguire Properties Services Inc., the Company owns, manages, leases, acquires and develops real estate.
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In the report, the analyst notes:
"For the last three months of 2009, MPG posted negative funds from operations (FFO) of $265.4 million, or $5.48 a share, higher than the previous year's negative FFO of $42.2 million, or 88 cents a share. The quarterly FFO reportedly widened as charges from defaulted properties increased.
"MPG has previously announced its plan to sell certain properties in order to improve liquidity and eliminate project debt. On March 1, 2010, the Company entered into an agreement to dispose of Griffin Towers in Central Orange County for approximately $90 million. This transaction closed on March 15, 2010. In connection with the sale, the Company was relieved of the $125.0 million property-level debt that was scheduled to mature in May 2010 and a $20.0 million senior mezzanine loan that was scheduled to mature in May 2011."
To read the entire report visit: http://www.stockpreacher.com/n/MPG
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