- We had $212.8 million of cash as of March 31, 2012 (excluding restricted cash related to mortgages in default), of which $166.7 million was unrestricted and $46.1 million was restricted.
- On February 2, 2012, trustee sales were held with respect to 700 North Central and 801 North Brand as part of cooperative foreclosure proceedings. As a result of the foreclosures, we were relieved of the obligation to repay the $27.5 million mortgage loan secured by 700 North Central and the $75.5 million mortgage loan secured by 801 North Brand as well as accrued contractual and default interest on both loans. In addition, we received a general release of claims under the loan documents pursuant to our previous in-place agreements with the special servicer.
- On March 23, 2012, Two California Plaza was placed in receivership pursuant to a written stipulation with the special servicer.
- On March 30, 2012, the transactions announced on October 31, 2011 between the Company, Charter Hall Office REIT and affiliates of Beacon Capital Partners, LLC were completed.
MPG Office Trust Reports First Quarter 2012 Financial Results
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