Maguire Properties to start roadshow Monday for $150 million perpetual preferreds

By Paul A. Harris

St. Louis, Jan. 9 - Maguire Properties Inc. will start a roadshow Monday for $150 million of series A cumulative perpetual preferred shares, a market source said.

The deal is expected to price Wednesday night.

Price talk is 7½% at the midpoint.

Friedman Billings Ramsey & Co. and Citigroup will be joint bookrunners on the public offering.

The Los Angeles-based office property real estate investment trust will sell 6 million of the non-rated shares at $25 per share.

The company plans to use proceeds to potentially acquire and develop properties and for general corporate purposes.

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