MPG Office Trust Inc. reported a smaller net loss for a fourth consecutive quarter as the Los Angeles office landlord continued to dispose of non-core properties, including another large office complex in Orange County.

The Los Angeles real estate investment trust late Wednesday reported a net loss of $138 million (-$2.82 a share), compared with a net loss of nearly $299 million (-$6.17) a year earlier. MPG used to be named Maguire Properties Inc.

The results included more than $214 million in impairment charges related to the REIT’s sale of its 827,000-square-foot Pacific Arts Plaza in Irvine to the Irvine Company in December. The mortgage on the property was in default; neither company broke out other details of the deal.

Funds from operations, a key REIT metric that adds depreciation and amortization expenses back into earnings to get a better picture of cash performance, was a negative $103 million ($-2.12 a share), an improvement from negative $265 million (-$5.48) a year earlier.

The company at the end of the year had full or partial interests in 24 office properties, totaling about 15 million net rentable square feet, and a 350-room hotel. Mortgage loans totaling $660 million on five properties were in default, including that of 550 South Hope in downtown Los Angeles.

Shares earlier closed down less than 1 percent to $3.72 on the New York Stock Exchange, and fell another 3.7 percent in after-hours trading.