Maguire Properties Inc. (MPG)

Maguire Properties, 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 REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders. The company was founded in 1965 and is headquartered in Los Angeles, California.

For the nine months ended 30 September 2006, Maguire Properties, Inc.'s revenues decreased 6% to $332.3M. Net income from continuing operations applicable to Common totaled $60M vs. a loss of $30.5M. Revenues reflect decreased rental revenue, lower income from tenant reimbursements and a decrease in sales from parking. Net income benefited from the presence of gain on sale of real estate and lower ground lease expenses.