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MPG Office Trust Completes Sale of U.S. Bank Tower in Downtown Los Angeles

  MPG Office Trust Completes Sale of U.S. Bank Tower in Downtown Los Angeles

Business Wire

LOS ANGELES -- June 18, 2013

MPG Office Trust, Inc. (NYSE: MPG) announced it completed the sale of
U.S. Bank Tower and the Westlawn Garage, each located in Downtown Los Angeles,
CA, to Beringia Central LLC, an indirect wholly owned subsidiary of
Overseas Union Enterprise Limited.

The purchase price was $367.5 million. Pursuant to recently negotiated
agreements with the unaffiliated Operating Partnership unit holders, the tax
protection on this asset expired on June 17, 2013. Net proceeds from the
transaction were approximately $103 million and will be available for general
corporate purposes.

MPG Office Trust, Inc.

MPG Office Trust, Inc. is the largest owner and operator of Class A office
properties in the Los Angeles central business district. MPG Office Trust,
Inc. is a full-service real estate company with substantial in-house expertise
and resources in property management, leasing and financing. For more
information on MPG Office Trust, visit our website at

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements,
which are based on current expectations, estimates and projections about the
industry and markets in which we operate and beliefs and assumptions made by
management that involve risks and uncertainties that could significantly
affect the financial results of the Company. Words such as “expects,”
“anticipates,” intends,” “plans,” “believes,” “projects,” “seeks,” “estimates”
and variations of such words and similar expressions are intended to identify
such forward-looking statements, which are generally not historical in nature.

These risks and uncertainties include, without limitation: risks associated
with our ability to consummate the proposed merger and the timing of the
proposed merger; risks associated with our liquidity situation, including our
failure to obtain additional capital or extend or refinance debt maturities;
risks associated with our failure to reduce our significant level of
indebtedness; risks associated with the timing and consequences of loan
defaults; risks associated with our loan modification and asset disposition
efforts, including potential tax ramifications; risks associated with our
ability to dispose of properties with potential value above the debt, if and
when we decide to do so, at prices or terms set by or acceptable to us;
general risks affecting the real estate industry (including, without
limitation, the market value of our properties, the inability to enter into or
renew leases at favorable rates, dependence on tenants’ financial condition,
and competition from other developers, owners and operators of real estate);
risks associated with the continued disruption of credit markets or a global
economic slowdown; risks associated with the potential loss of key personnel
(most importantly, members of senior management); risks associated with our
failure to maintain our status as a REIT under the Internal Revenue Code of
1986, as amended, and possible adverse changes in tax and environmental laws;
and potential liability for uninsured losses and environmental contamination.

For a further list and description of such risks and uncertainties, see our
Quarterly Report on Form 10-Q filed on May 9, 2013 and our Annual Report on
Form 10-K filed on March 18, 2013 with the Securities and Exchange Commission.
The Company does not update forward-looking statements and disclaims any
intention or obligation to update or revise them, whether as a result of new
information, future events or otherwise.


MPG Office Trust, Inc.
Peggy Moretti, 213-613-4558
Executive Vice President, Investor and Public Relations
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