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GLENDALE, CA-Maguire Properties has refinanced its GlendaleCenter office project with a $125-million interest-only loan on the14-story, 383,000-sf class A office tower. The 10-year loan carriesa 5.83% fixed interest rate, according to the Los Angeles-basedREIT, which secured the financing through Nomura.

Maguire officials say that the net proceeds of the refinancing,after repayment of the existing $80-million mortgage loan, paymentof prepayment penalties, closing costs and loan reserves wereapproximately $33 million. The proceeds were used to pay down thecompany's term loan to a balance of $332 million.

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