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Developer drama

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Troubled commercial real estate king Robert Maguire was rebuffed by the board of directors of his company, Maguire Properties, when he tried to buy back a real estate fund he founded, reports the LA Times. Maguire wanted control of the fund so he could sell several of his San Diego and LA properties, including the 72-story US Bank Tower. Maguire was trying to find a way to clean up the mess he caused when he purchased $3 billion worth of office buildings in the OC last year, which saddled him with oodles of debt and prompted calls for his resignation. As of today, he's still Maguire Properties' chief executive and chairman. [LA Times]