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MPG Office Trust, Inc.
MPG, a Southern California-focused real estate
investment trust, announced that a trustee sale was held on September 6, 2012
with respect to 500 Orange Tower. As a result of the foreclosure, the Company
was relieved of the obligation to repay the $110.0 million mortgage loan
secured by the property, as well as accrued contractual and default interest
on the mortgage loan. In addition, the Company received a general release of
claims under the loan documents pursuant to an in-place agreement with the
special servicer of the mortgage loan.
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