Wednesday, Maguire Properties (MPG) announced that it has completed the sale of Lantana Media Entertainment Campus in Santa Monica, California to an affiliate of Lionstone Group. The company said that it has also sold an office property on the Campus to NARAS Properties Inc, an affiliate of The Recording Academy.
The company noted that this disposition is a part of its previously announced plan to sell certain properties in order to address near-term debt maturities and generate proceeds for general corporate purposes.
Commenting on the transaction CEO Nelson Rising noted that these two transactions has eliminated in full $176 million of obligations under two loans which were scheduled to mature in January and June 2010 and generated approximately $19 million in net proceeds after repayment of the loans.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.