Maguire Properties Inc. said Tuesday that it has agreed to sell two San Diego-based properties for $300 million to an undisclosed buyer.

Los Angeles-based Maguire said it agreed to sell Pacific Center in Mission Valley and Wateridge Plaza in Sorrento Mesa and expects the sale of the two office properties to close in the second quarter.

Maguire, the largest owner of office properties in downtown Los Angeles, said the proceeds will be used to help fund its $2.89 billion February acquisition of a portfolio of properties from Blackstone Group LP.

Shares in Maguire were down 7 cents to $26.20 in afternoon trading Tuesday on the New York Stock Exchange.