Shaw Capital Working Tips: Prime Group Realty Trust
Selling Itself to Five Mile Capital Partners
http://www.
realestatechannel.
com
02/22/11 8:00 AM EST
Posted by Alex Finkelstein
In what is expected to be a multi-million-dollar transaction, Chicago-based...
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Shaw Capital Working Tips: Prime Group Realty Trust
Selling Itself to Five Mile Capital Partners
http://www.
realestatechannel.
com
02/22/11 8:00 AM EST
Posted by Alex Finkelstein
In what is expected to be a multi-million-dollar transaction, Chicago-based Prime Group Realty
Trust (PINK SHEETS: PMGEP) and Five Mile Capital Partners LLC, a Connecticut-based
alternative investment and asset management company, jointly announced that affiliates of Five
Mile have signed a definitive merger contract and other agreements to acquire the REIT.
The deal
is expected to close in the second half of 2011.
In a prepared statement, the parties say Five Mile will acquire Prime Group for $5 in cash per share
for the company’s 9% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest
(the “Series B Preferred Shares”).
There are currently no common shares of beneficial interest of the company outstanding.
Prime
Group’s Board of Trustees has approved the merger agreement and plans to su
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