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Prime Group Realty turns to K Capital.(Prime Group Realty Trust)(K Capital Partners)(Brief Article)
Byline: Jonathan Berke
A Boston hedge fund may hold the key to saving Prime Group Realty Trust Chairman Michael Reschke's stake in a Chicago real estate investment trust.
K Capital Partners llc, which has a 13.35% stake in Prime, is interested in recapitalizing Primestone llc, which has a 25.6% stake in Prime and is wholly owned by Reschke. K Capital filed a statement with the U.S. Securities and Exchange Commission hinting at this possibility; Reschke separately confirmed the possibility to Dow Jones Newswires.
Industry analysts say this recapitalization would provide Reschke with the funds needs to pay off a $62 million loan, plus 16% interest, …
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