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April 24, 2015 10:57 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of MPG Office Trust, Inc.

Company Overview

MPG Office Trust, Inc. a real estate investment trust (REIT), engages in the ownership, management, acquisition, and development of office and real estate properties primarily in California. As of June 30, 2005, the company owned a portfolio of 25 commercial real estate properties, including 22 office and retail projects, a 350-room hotel, 6 off-site parking garages totaling approximately 5,969 spaces, and onsite structured and surface parking totaling approximately 26,549 spaces. It also owned undeveloped land that could support approximately 11.8 million square feet of office, retail, structured parking, and residential uses, as of the above date. The company has elected to be treated as a...

355 South Grand Avenue

Suite 3300

Los Angeles, CA 90071

United States

Founded in 1965

70 Employees

Phone:

213-626-3300

Fax:

213-687-4758

Key Executives for MPG Office Trust, Inc.

Chief Executive Officer, President, Director and Member of Finance Committee
Age: 47
Executive Vice President, General Counsel and Secretary
Age: 41
Chief Accounting Officer and Vice President
Age: 42
Senior Vice President of Asset Management
Age: 48
Chief Administrative Officer and Executive Vice President of Investor & Public Relations
Age: 51
Compensation as of Fiscal Year 2014.

MPG Office Trust, Inc. Key Developments

MPG Office Trust, Inc.(NYSE:MPG) dropped from Russell 2000 Index

MPG Office Trust, Inc. will be removed from Russell 2000 Index.

MPG Office Trust, Inc.(NYSE:MPG) dropped from Russell 3000 Index

MPG Office Trust, Inc. will be removed from Russell 3000 Index.

A Preferred Shareholder of MPG Office Trust Inc. Files Class-Action Lawsuit against the Company and Brookfield Office Properties Inc

A preferred shareholder of MPG Office Trust Inc. has filed a class-action lawsuit against the company and Brookfield Office Properties Inc. over the proposed merger of MPG Office and affiliates of Brookfield, as well as the open tender offer by Brookfield for MPG Office's preferred shares. The Circuit Court of Baltimore City, Md., has set a July 24 hearing date for the plaintiff’s request for an injunction to prevent the closing of the merger and tender offer, according to a July 11 news release. MPG Office and Brookfield have agreed not to close the transactions until the court has ruled on the request. In the lawsuit, the preferred shareholders claim the tender offer and merger violate the terms of the contract governing the preferred stock, which had promised that the shares would not be converted without the shareholders' consent. The plaintiff also alleges that the tender offer is wrongfully coercive and unlawful because preferred shareholders are forced to choose between tendering their shares and foregoing $9.00 in dividends owed to them or converting their shares into Brookfield shares. MPG Office has not paid any dividends to its preferred shareholders since 2008. Under the contract governing the preferred stock, the preferred shareholders are owed more than $9.00 per share in accrued and unpaid dividends, but under Brookfield’s tender offer, the preferred shareholders would receive nothing for their accrued and unpaid dividends. For those preferred shareholders who do not participate in the tender offer, their preferred stock will be canceled and converted into new preferred stock of a Brookfield-controlled entity, and Brookfield will decide whether to pay any of the accrued and unpaid dividends to the non-tendering preferred shareholders. The tender offer was scheduled to close July 17, 2014 and MPG Office’s common shareholders will vote on the merger the same day.

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