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Robert F. Maguire III (Getty)
Prolific Los Angeles developer Robert F. Maguire III died Tuesday at his home in Studio City.
Maguire was 86 and died of complications from pneumonia, according to the L.A. Times.
His most prominent project was the U.S. Bank Tower, the tallest building in L.A. from 1986 to 2010. The 73-story Downtown tower sold to Silverstein Properties last July for $430 million.
Maguire was born in Portland, Oregon, in 1935 and relocated to L.A. to study at UCLA, where he graduated in 1960. He got his feet wet in real estate at Security Pacific National Bank and started his own firm in 1965.
Nine Must Reads for the CRE Industry Today (Jan. 29, 2021) The New York Times looks at companies that are still opening hotels. The Real Deal examines what went wrong with the implosion of a real estate crowdfunding network. These are among today’s must reads from around the commercial real estate industry.
Commercial Real Estate Brokers Talk Networking Tactics During COVID “Commercial Observer took a call from a broker one evening in mid-December. The broker didn’t have long to chat as he was going to a holiday event. ‘An in-person holiday event?’ we asked.” (
Commercial Observer)
What Does Biden’s Stance on Private Prisons Means for Prison REITs? “President Biden ran for office with some pretty lofty promises in regards to prison and judicial reform, including closing all private prisons. After winning the presidential election in November, 2020 prison real estate investment trusts (REITs) share prices have tumbled and are yet to recover, leaving investor