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News Breaks | | | | September 17, 2012 | | 08:37 EDT |  | MPG | MPG Office Trust disposes of 500 Orange Tower
MPG Office Trust announced that a trustee sale was held on September 6 with respect to 500 Orange Tower. As a result of the foreclosure, the company was relieved of the obligation to repay the $110M 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. | |
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