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A qualified REIT subsidiary is not treated as a separate corporation, and the subsidiary's assets, liabilities, income, deductions and credits are considered to be held by the REIT. CHICAGO -- Prime Group Realty Trust (NYSE: PGEPRB) (the "Company") announced today that on June 29, 2007 the Company, through its wholly-owned qualified REIT subsidiary PGRT ESH, Inc. The trust fund will be treated as a qualified REIT subsidiary, however, and accordingly will not be subject to federal income taxation as a corporation, as long as 100% of the equity securities are owned by a single REIT. |
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