Five Mile Capital Partners Buys Prime Group Realty Trust

Five Mile Capital Partners, a Connecticut-based alternative investment and asset management company, picked up Prime Group Realty Trust. The firm acquired all of the remaining Series B preferred shares not already owned by Five Mile, paying $7.3 million.

PRESS RELEASE

Prime Group Realty Trust (OTC PINK: PMGEP) (the “Company”) and Five Mile Capital Partners LLC (“Five Mile”), a Connecticut-based alternative investment and asset management company, announced today that an affiliate of Five Mile has completed its acquisition of all of the remaining Series B preferred shares of the Company not already owned by Five Mile for $7.3 million. Originally announced in September 2012, the acquisition was approved by the Company’s common and Series B preferred shareholders on December 5, 2012.

As a result of the transaction, the Company’s Series B preferred shares will no longer be traded as an over-the-counter security. 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. Letters of transmittal regarding the procedures to receive the merger consideration will promptly be sent to the former Series B preferred shareholders of the Company.

Concurrently with the acquisition, Messrs. John M. Sabin, Shawn R. Tominus and George (Randy) R. Whittemore resigned as trustees of the Company.

Duff & Phelps, LLC acted as financial advisor to the Company’s Board of Trustees and Winston & Strawn LLP provided legal advice to the Company. Five Mile was represented by Goodwin Procter LLP.

About Prime Group Realty Trust

Prime Group Realty Trust is a self-administered and self-managed real estate investment trust (REIT) which owns, manages, leases, develops and redevelops office and industrial real estate in metropolitan Chicago. The Company currently owns 1 office property containing an aggregate of 167,756 net rentable square feet and interests in one joint venture that owns one office property comprised of approximately 1.14 million net rentable square feet. The Company leases and manages approximately 1.31 million square feet comprising all of its wholly-owned properties and its 330 N. Wabash Avenue joint venture property. For more information about Prime Group Realty Trust, contact the Company’s Chicago headquarters at (312) 917-1300 or visit its website at www.pgrt.com.

About Five Mile Capital Partners

Five Mile Capital Partners LLC is an alternative investment and asset management company established in 2003. The firm specializes in investment opportunities in real estate, debt products, structured finance, asset-based lending and financial services private equity. Five Mile’s Principals have significant experience, knowledge and skills relevant to the financial services industry and believe the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure. The Firm’s headquarters are based in Stamford, Connecticut with an office in New York City. Five Mile has approximately $2 billion in assets under management.

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