TrizecHahn confirmed that it had been in discussions with Maguire, but stated that talks have been suspended due to the "current market environment, and in view of TrizecHahn's primary objective to undertake the previously announced corporate reorganization." The company issued the announcement after reports surfaced that TrizecHahn had struck an agreement to purchase a majority interest in the Maguire Partners office portfolio.
TrizecHahn owns and manages more than 75 office buildings, totaling 49 million sf, in seven US cities. Earlier this year, TrizecHahn expanded its office portfolio when it acquired three properties in Washington, DC, Arlington, VA and Chicago, IL for $180 million.
Maguire is one of Los Angeles' biggest landlords, owning more than 5 million sf in the city, including Library Tower, Wells Fargo Center and the Gas Center.
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