MPG Office Trust Announces Disposition of 3800 Chapman

LOS ANGELES--(BUSINESS WIRE)--MPG Office Trust, Inc. (NYSE: MPG), a Southern California-focused real estate investment trust, announced that a trustee sale was held today with respect to 3800 Chapman, an office property located in Central Orange County. As a result of the foreclosure, the Company was relieved of the obligation to repay the $44.4 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. Our Operating Partnership, MPG Office, L.P., had previously received a release from the special servicer from all claims under the guaranty of partial payment.