Business Briefs: Maguire Properties, Hilton Hotels, Ameron International

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& #8226; Maguire Properties, Inc.

struck a deal for two new leases totaling 270,000 square feet for properties in the 105-acre Park Place Office Campus in Irvine. The L.A.-based real estate investment trust signed a lease with New Century Financial Corp. for the company to relocate its corporate headquarters and occupy 190,000 square feet in a building to be constructed at Park Place by the second quarter of 2007. The new building will be a 600,000 square foot 20-story office tower adjacent to the San Diego (405) Freeway. In February, Maguire leased 179,000 square feet to New Century Financial for an existing building in Park Place.


And Maguire also signed a lease with law firm Gibson, Dunn & Crutcher LLP for 80,000 square feet in the same 20-story office tower building that New Century Financial will occupy by the second quarter of 2007. Financial details of both leases were not disclosed.



& #8226; Hilton Hotels Corp.

announced that it sold two of its hotels. The Beverly Hills-based hotelier sold its Hilton Alexandria Mark Center in Alexandria, Va., to Amstar Group LLC and Davidson Hotel Co. for $93.1 million. Denver-based Amstar and Memphis-based Davidson acquired the 500-room hotel in a joint venture. The companies plan to spend $9.5 million to renovate the property, which will continue as a Hilton franchise.


Hilton also sold the 19-story, 351-room Hilton Glendale to Eagle Hospitality Properties Trust, Inc. for $79.8 million. Hilton will continue to manage the hotel. The Covington, Ky., real estate investment trust now owns 11 hotels; eight of them are Hilton hotels within the Hilton and Embassy Suites brands.



& #8226; Ameron International Corp.

, the Pasadena-based maker of steel and reinforced concrete pipe for industrial uses, reported net income of $5.3 million (62 cents per diluted share) for the second quarter ended May 29, compared with $6.9 million (82 cents) for the like period a year earlier. Revenue rose to $176.2 million from $150.5 million in the year-ago period.

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