Prime Group Realty calls special meeting for holders of 9% preferreds

By Angela McDaniels

Tacoma, Wash., April 5 - Prime Group Realty Trust will hold a special meeting of the holders of its 9% series B cumulative redeemable preferred shares of beneficial interest on June 6, according to a company news release.

The company is seeking approval of its planned merger with an affiliate of Five Mile Capital Partners LLC.

The affiliate agreed to acquire the company for $5 in cash per series B preferred, subject to the approval by the holders of at least two-thirds of the series B preferreds.

The preferred holders will also vote on a proposal to elect two trustees that will join the company's board of trustees if the merger is not approved.

April 5 is the record date for the meeting.

Prime Group is a real estate investment trust that owns office and industrial real estate in Chicago. Five Mile Capital Partners is a privately held alternative investment and asset management company based in Stamford, Conn.

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