EDINBURGH, IN-The 305,000-sf Edinburgh Center here is sold to Chelsea Property Group, Inc. for $27 million, allowing Baltimore-based Prime Retail, Inc. to make a principal payment on its $90-million mezzanine loan. Another $8.9 million comes due May 1.

CHICAGO-Committee to Restore Shareholder Value asks the Prime Group Realty Trust board of directors to oust chairman Michael W. Reschke and chief executive officer Richard S. Curto. The two leaders of the embattled office REIT step down.

CHICAGO-Questioning the liberal use of tax increment financing districts even in neighborhoods where property values have escalated, the Neighborhood Capital Budget Council asks the state to change rules involving the economic development tool.

CHICAGO-The second-largest US mall REIT acquires privately-held Victoria Ward, Ltd. and its 65 acres in the Kakaako entertainment district plus 600,000 sf of retail space. General Growth already has the 1.8-million-sf Ala Moana Center in the 50th state.

CHICAGO-Ross E. Glickman's promotion from president of leasing to chief executive officer takes place upon closing of the $5.3-billion sale of Rodamco North America NV to The Rouse Co., Simon Property Group and Westfield America Trust.

CHICAGO-The nearly vacant, 12-story building at 168 N. Michigan Ave. has its fourth owner in little more than three years, while its value has more than doubled. An unidentified buyer pays $5.7 million at an auction conducted by Sheldon Good & Co.

CHICAGO-Owners of a former Firestone Tire Co. building in the Ashburn neighborhood on the South Side have redeveloped the property into 740 self-storage units in 81,000 sf while leasing out 49,000 sf.

MANISTEE, MI-The 42-room Inn at Manistee National, Canthooke Valley and Cutters' Ridge golf courses as well as 12 residential home sites will be auctioned April 23 by Chicago-based Sheldon Good & Company Auctions LLC and Michigan broker Alan R. Kravets.