Maguire Buys Mixed-Use Property

Maguire Properties, Los Angeles, is acquiring a 1.7 million-square-foot Orange County, Calif., mixed-use property from an affiliate of Blackstone Real Estate Advisors for approximately $260 million.The purchase price includes the assumption of the existing mortgage on the property and mezzanine financing of approximately $164 million, the office real estate investment trust said. The property, Park Place, consists of one 10-story office tower, six four-story office buildings, and a concourse building in the John Wayne Airport submarket of Orange County, Maguire said.