The deal caps a month that has seen Prime Group Realty Trust christen its 1.5-million-sf Bank One—formerly Dearborn Center—building at 131 S. Dearborn St.; bid adieu to former chairman Michael W. Reschke, who resigned from the company's board of trustees; and add two former Lend Lease Real Estate executives to its board.
Meanwhile, the company's common stock price has risen 23% so far this month, as advisers from Merrill Lynch continue weighing offers for Prime Group Realty Trust city and suburban office and industrial assets, as well as the entire company. So far this year, Prime Group Realty Trust common stock is up 36%.
In addition to former COO Ray H. D'Ardenne, the new board includes Daniel A. Lupiani, who also headed real estate lending for the First National Bank of Chicago. That financial institution has since been folded into Bank One, Prime Group Realty Trust's anchor tenant at 131 S. Dearborn St.
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