Exactly two days after announcing its IPO last Wednesday, Maguire Properties Inc. purchased two, Class-A office buildings in Los Angeles, 12900 Park Plaza Drive (Phase I) and 12911 183rd St. (Phase II). The transaction was valued at $79.15 million or $242 per square foot. The capitalization rate based on the income at the time of sale was approximately 9.25%. This was the commercial real estate developer's first transaction as a newly formed REIT.