Prime Group Realty Trust Announces Updated Purchase Price and Timing on Sale of 180 North LaSalle Street

Prime Group Realty Trust announced that Younan Properties, Inc. and an affiliate (“Purchaser”), and the subsidiary of the Company (the “Seller”) that owns 180 North LaSalle Street in Chicago, Illinois (the “Property”), amended the purchase and sale agreement (the “Agreement”) to (i) provide Purchaser certain credits against the Purchase Price, and (ii) remove the Purchaser’s right to extend the closing date past December 17, 2008. ADVERTISEMENT The... 

Andres Gavinet Appointed CFO of Younan Properties

Younan Properties, Inc., one of the nation’s largest privately-held real estate investment and asset management companies, announced that it has appointed Andres R. Gavinet to the new post of Chief Financial Officer. Mr. Gavinet will leverage his significant real estate experience to support Younan’s growing portfolio of nearly 15.0 million square feet of Class A office space. According to Zaya S. Younan, Chairman and CEO of Younan, “Andres... 

Prime Group Realty Trust Announces Updated Timing on Sale of 180 North LaSalle Street and Filing of Previously Announced Restatements

Prime Group Realty Trust announced that Younan Properties, Inc. and an affiliate, and the subsidiary of the Company that owns 180 North LaSalle Street in Chicago, Illinois, amended the purchase and sale agreement to extend the originally scheduled closing deadline for the Purchaser’s acquisition of the Property until December 17, 2008, or such earlier date as the parties may each approve. In addition, the Purchaser has the right to further extend... 

Younan Properties to Acquire 180 North LaSalle in Downtown Chicago; Latest Purchase Increases LaSalle Office Holdings to 1.4 MSF

Younan Properties, Inc., one of the nation’s fastest-growing, privately held real estate investment and asset management firms, announced today that it is under contract to purchase 180 North LaSalle, a 38-story, Class A office building in the heart of Chicago’s Central Business District. Younan represented itself in the transaction. Jamie Fink of Holliday Fenoglio Fowler, L.P. (HFF) represented the seller, Prime Group Realty Trust. Zaya S. Younan,... 

Younan Hospitality Group Wins All Claims in Suit Against Falcon Physician Reviews

Younan Hospitality Group announced today that it has successfully defended itself and won on all claims against Falcon Physician Reviews, which filed a lawsuit against Younan Hospitality Group. The suit, filed in the 160th Judicial Court of Dallas County, erroneously claimed that Falcon’s business was interrupted when Falcon breached its contracts with Younan at its Holiday Inn Select in North Dallas. In fact, a Dallas County jury unanimously concluded...