MPG Office Trust Inc. reported a narrower net loss in the third quarter, benefiting from sale of a large office building in Orange County.

The Los Angeles real estate investment trust late Monday reported a net loss of $17.9 million (-36 cents per share), compared with a net loss of $46.8 million (-97 cents) a year earlier.

The REIT saw a $23.7 million gain from the disposition of Park Place II in Irvine. That was partially offset by an extra $9.9 million in interest paid on properties in default, as well as a $1.4 million impairment charge on the value of another property.

Funds from operations, a REIT metric that removes the profit-reducing effect of depreciation, were -$2.4 million (-5 cents), compared with -$11.7 million (-24 cents) a year earlier. Analysts surveyed by Thomson Reuters expected per-share FFO of -9 cents.

Shares were up 22 cents, or 8.5 percent, to $2.84 on in midday trading on the New York Stock Exchange.