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NEW YORK CITY-Chicago-based Prime Group Realty Trust has a new owner in Five Mile Capital Partners of Stamford. The merger, which GlobeSt.com originally reported in early December, hinged on the disposition of the firm’s remaining Series B preferred shares. That acquisition, totaling $7.3 million, has been approved by the common and Series B shareholders.

With the sale, the shares will no longer be traded over the counter. “In accordance with the terms of the previously announced merger agreement, each Series B preferred share of the company was cancelled and the shares not owned by Five Mile were converted into the right to receive cash in the amount of $5.25 per share, without interest,” said a spokesman for Prime in a prepared statement.

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