Maguire sheds office properties

Maguire Properties Inc., the biggest office landlord in downtown Los Angeles, agreed to sell three office properties in Orange County that it bought from Blackstone Group in February for $310 million.

Closely held Rockwood Capital and Muller Co., based in Laguna Hills, are buying the offices, Maguire said Monday. The proceeds will help pay for buildings in Los Angeles and Orange County that Maguire bought from Blackstone for $2.88 billion.

Maguire, owner of the 72-story U.S. Bank Tower in Los Angeles, said March 5 that it would sell 17 properties for more than $2 billion to help fund the Blackstone properties. It agreed last month to sell five offices to Bixby Land Co. for $345 million.

“This latest transaction positions us closer to the completion of our previously stated goal of disposing of certain properties to streamline our asset base,” Chief Executive Robert Maguire said.

Maguire is selling Tower 17 in Irvine and 1100 Executive Tower in Orange. It also is selling Lincoln Town Center in Santa Ana.

Rockwood manages more than $2.8 billion in assets and has offices in Los Angeles, San Francisco and Greenwich, Conn.