MPG Office Trust, Inc. (MPG) Monday announced agreement with an affiliate of Overseas Union Enterprise Ltd. (OUE) to sell the U.S. Bank Tower and Westlawn Garage, located in Los Angeles, for a consideration of $367.5 million.
Net proceeds from the transaction are estimated to be around $103 million and will be available for general corporate purposes, including potential loan rebalancing.
The transaction is expected to close on June 28, following the expiration of the tax protection period.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.