MPG Office Trust to Sell 20% JV Interest Which Owns California Plaza, Cerritos Corp. Center

MPG Office Trust, Inc. (NYSE: MPG), a Southern California-focused real estate investment trust, announced it has sold its remaining 20% joint venture interest to its joint venture partner, an affiliate of Beacon Capital Partners, LLC. The joint venture owns One California Plaza, located in Downtown Los Angeles, and Cerritos Corporate Center, located in Cerritos, California. Net proceeds from the transaction totaled approximately $41 million and will be used for general corporate purposes.