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Prime Group Realty Trust (PGE) Message Board

  • mtgguy1998 mtgguy1998 Nov 21, 2001 6:50 PM Flag

    CHI market

    I see there's a deal for 500 West Monroe @250mil or appox $250.psf. While not a PGE property, it's not a bad comprable to have when valuing assets in the area

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    • Prime has some very well-located properties, but none of them would fetch a premium price like $250 psf. And to address again the issue of Cadim/Vornado swapping shares for CBD assets, I believe that is a very farfetched scenario. Those properties have debt associated with them that would possibly (most likely probably) have prepayment penalties or defeasance too severe to make a swap likely. As far as who Cadim is likely to side with, I think that vote has already been cast...they are in a virtual JV with Vornado.