<HTML>
<HEAD>
<TITLE>Filed by Bowne Pure Compliance</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<DIV style="font-size: 10pt">
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): February 10, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>PRIME GROUP REALTY TRUST<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>MARYLAND</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-13589</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>36-4173047</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>77 West Wacker Drive, Suite 3900, Chicago, Illinois<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>60601</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(312) 917-1300</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>NOT APPLICABLE<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="left" style="font-size: 10pt"><B>Item&nbsp;4.02: Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim
Review.</B>


<P align="left" style="font-size: 10pt; text-indent: 4%">On February&nbsp;17, 2009, Prime Group Realty Trust (the &#147;Company&#148;) issued a press release disclosing that in response
to comments by the Staff of the United States Securities and Exchange Commission (the &#147;SEC&#148;) in connection with their
review of the Company&#146;s Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2007 filed with the SEC on
July&nbsp;23, 2008, the Company&#146;s management, after consultation with its independent accountants, determined that a $4.2
million tax indemnification payment made in January&nbsp;2006 was incorrectly recorded in the Company&#146;s consolidated
financial statements. Accordingly, the previously filed consolidated financial statements for the fiscal years ended
December&nbsp;31, 2006 and December&nbsp;31, 2007 included in the Company&#146;s Annual Report on Form 10-K for the year ended
December&nbsp;31, 2007, and the interim reports for the periods ending March&nbsp;31, 2008 and June&nbsp;30, 2008 included in the
Company&#146;s Quarterly Reports on Form 10-Q, should no longer be relied upon because of the restatement of certain items
in the consolidated financial statements as described below.


<P align="left" style="font-size: 10pt; text-indent: 4%">The tax indemnification payment was previously capitalized as building improvements as a purchase price allocation
under Statement of Financial Accounting Standards No.&nbsp;141 &#147;Business Combinations.&#148; As a result of the review by the
SEC, it was determined by management, after consultation with its independent accountants, that the Company should have
accounted for the payment as a charge to operations. Accordingly, the Company will restate its financial statements
and other financial information for the years ended December&nbsp;31, 2006 and 2007, and for the quarterly periods ended
March&nbsp;31, 2008 and June&nbsp;30, 2008.


<P align="left" style="font-size: 10pt; text-indent: 4%">The effect of the change in accounting with respect to the tax indemnification payment will be as follows:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the 2006 consolidated financial statements, total assets, as previously reported, will decrease by
approximately $4.1&nbsp;million, loss from continuing operations before minority interests, as previously
reported, will increase by $4.1&nbsp;million, and shareholders equity as well as net income will decrease by
$36,000. Net cash provided by operating activities, as previously reported, will decrease by
$4.2&nbsp;million and net cash provided by investing activities, as previously reported, will increase by $4.2
million.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the 2007 consolidated balance sheet, total assets and shareholders equity, as previously reported,
will decrease by approximately $4.0&nbsp;million.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the first and second quarter 2008 consolidated balance sheets, total assets, as previously
reported, will decrease by approximately $3.9&nbsp;million.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">When taken together with the restatements previously disclosed by the Company in the Form 8-K filed with the SEC
on August&nbsp;21, 2008, the effect of the changes will be as follows:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the 2006 consolidated financial statements as of December&nbsp;31, 2006, total assets will decrease
from approximately $654.1&nbsp;million to approximately $650.0&nbsp;million, minority interest &#150; operating
partnership will decrease from approximately $24.8&nbsp;million to approximately $20.8&nbsp;million,
shareholders equity will be unchanged at approximately $104.4&nbsp;million and net income will be
unchanged at approximately $8.6&nbsp;million. Net cash provided by operating activities will decrease
from approximately $4.8&nbsp;million to approximately $0.6 million and net cash provided by investing activities will increase from approximately $66.4&nbsp;million
to approximately $70.6&nbsp;million.</TD>
</TR>


</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">






<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the 2007 consolidated financial statements as of December&nbsp;31, 2007, total assets will decrease
from approximately $675.9&nbsp;million to approximately $671.9&nbsp;million, minority interest &#150; operating
partnership will decrease from approximately $65.0&nbsp;million to $0, shareholders equity (deficit)&nbsp;will
increase from approximately ($24.7) million to approximately $36.4&nbsp;million and net loss will increase
from approximately $44.8&nbsp;million to approximately $59.0&nbsp;million.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the first quarter 2008 consolidated financial statements as of March&nbsp;31, 2008, total assets
will decrease from approximately $567.1&nbsp;million to approximately $563.1&nbsp;million, minority interest &#150;
operating partnership will decrease from approximately $98.3&nbsp;million to approximately $13.7&nbsp;million,
shareholders equity will decrease from a deficit of approximately
$90.1&nbsp;million to a deficit of
approximately $9.5&nbsp;million and net loss will decrease from approximately $60.2&nbsp;million to
approximately $46.0&nbsp;million.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the second quarter 2008 consolidated financial statements as of June&nbsp;30, 2008, total assets
will decrease from approximately $540.4&nbsp;million to approximately $536.5&nbsp;million, minority interest &#150;
operating partnership will decrease from approximately
$89.6&nbsp;million to $0, shareholders equity (deficit) will
increase from approximately ($81.4)&nbsp;million to approximately $4.3&nbsp;million and net loss will increase
from $5.6&nbsp;million to approximately $13.1&nbsp;million.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">The Company intends to promptly file amendments to its periodic reports described above that have previously been
filed with the Securities and Exchange Commission to reflect the restatements described in this Item&nbsp;4.02 and in the
August&nbsp;21, 2008 Form 8-K referred to above. The Company expects such amendments to be filed within the next several
weeks.


<P align="left" style="font-size: 10pt; text-indent: 4%">The management of the Company has discussed the matters disclosed in this item with the Company&#146;s independent
registered public accounting firm, Grant Thornton, LLP.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


<P align="left" style="font-size: 10pt">(d)&nbsp;Exhibits.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release of Prime Group Realty Trust dated February&nbsp;17, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>

    <TD align="left" valign="top" colspan="2">PRIME GROUP REALTY TRUST<br><br></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>By:&nbsp;</TD>
    <TD align="left" valign="top"> <u><B>/</B>s/ Jeffrey A. Patterson</u></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jeffrey A. Patterson</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dated: February&nbsp;17, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">4
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release of Prime Group Realty Trust dated February&nbsp;17, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">4
</DIV>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "c81341e8vk.htm", "description": "FORM 8-K", "secsgml_size_bytes": 18020}]
{"company-data": {"conformed-name": "PRIME GROUP REALTY TRUST", "cik": "0001042798", "assigned-sic": "6798", "irs-number": "364173047", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13589", "film-number": "09616619"}, "business-address": {"street1": "77 WEST WACKER DR", "street2": "STE 3900", "city": "CHICAGO", "state": "IL", "zip": "60601", "phone": "3129171300"}, "mail-address": {"street1": "77 WEST WACKER DRIVE", "street2": "SUITE 3900", "city": "CHICAGO", "state": "IL", "zip": "60601"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 10, 2009
PRIME GROUP REALTY TRUST
(Exact name of registrant as specified in its charter)
MARYLAND
1-13589
36-4173047
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
77 West Wacker Drive, Suite 3900, Chicago, Illinois
60601
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(312) 917-1300
NOT APPLICABLE
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 4.02: Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim
Review.
On February 17, 2009, Prime Group Realty Trust (the "Company") issued a press release disclosing that in response
to comments by the Staff of the United States Securities and Exchange Commission (the "SEC") in connection with their
review of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 filed with the SEC on
July 23, 2008, the Company's management, after consultation with its independent accountants, determined that a $4.2
million tax indemnification payment made in January 2006 was incorrectly recorded in the Company's consolidated
financial statements. Accordingly, the previously filed consolidated financial statements for the fiscal years ended
December 31, 2006 and December 31, 2007 included in the Company's Annual Report on Form 10-K for the year ended
December 31, 2007, and the interim reports for the periods ending March 31, 2008 and June 30, 2008 included in the
Company's Quarterly Reports on Form 10-Q, should no longer be relied upon because of the restatement of certain items
in the consolidated financial statements as described below.
The tax indemnification payment was previously capitalized as building improvements as a purchase price allocation
under Statement of Financial Accounting Standards No. 141 "Business Combinations." As a result of the review by the
SEC, it was determined by management, after consultation with its independent accountants, that the Company should have
accounted for the payment as a charge to operations. Accordingly, the Company will restate its financial statements
and other financial information for the years ended December 31, 2006 and 2007, and for the quarterly periods ended
March 31, 2008 and June 30, 2008.
The effect of the change in accounting with respect to the tax indemnification payment will be as follows:
•
In the 2006 consolidated financial statements, total assets, as previously reported, will decrease by
approximately $4.1 million, loss from continuing operations before minority interests, as previously
reported, will increase by $4.1 million, and shareholders equity as well as net income will decrease by
$36,000. Net cash provided by operating activities, as previously reported, will decrease by
$4.2 million and net cash provided by investing activities, as previously reported, will increase by $4.2
million.
•
In the 2007 consolidated balance sheet, total assets and shareholders equity, as previously reported,
will decrease by approximately $4.0 million.
•
In the first and second quarter 2008 consolidated balance sheets, total assets, as previously
reported, will decrease by approximately $3.9 million.
When taken together with the restatements previously disclosed by the Company in the Form 8-K filed with the SEC
on August 21, 2008, the effect of the changes will be as follows:
•
In the 2006 consolidated financial statements as of December 31, 2006, total assets will decrease
from approximately $654.1 million to approximately $650.0 million, minority interest – operating
partnership will decrease from approximately $24.8 million to approximately $20.8 million,
shareholders equity will be unchanged at approximately $104.4 million and net income will be
unchanged at approximately $8.6 million. Net cash provided by operating activities will decrease
from approximately $4.8 million to approximately $0.6 million and net cash provided by investing activities will increase from approximately $66.4 million
to approximately $70.6 million.
•
In the 2007 consolidated financial statements as of December 31, 2007, total assets will decrease
from approximately $675.9 million to approximately $671.9 million, minority interest – operating
partnership will decrease from approximately $65.0 million to $0, shareholders equity (deficit) will
increase from approximately ($24.7) million to approximately $36.4 million and net loss will increase
from approximately $44.8 million to approximately $59.0 million.
•
In the first quarter 2008 consolidated financial statements as of March 31, 2008, total assets
will decrease from approximately $567.1 million to approximately $563.1 million, minority interest –
operating partnership will decrease from approximately $98.3 million to approximately $13.7 million,
shareholders equity will decrease from a deficit of approximately
$90.1 million to a deficit of
approximately $9.5 million and net loss will decrease from approximately $60.2 million to
approximately $46.0 million.
•
In the second quarter 2008 consolidated financial statements as of June 30, 2008, total assets
will decrease from approximately $540.4 million to approximately $536.5 million, minority interest –
operating partnership will decrease from approximately
$89.6 million to $0, shareholders equity (deficit) will
increase from approximately ($81.4) million to approximately $4.3 million and net loss will increase
from $5.6 million to approximately $13.1 million.
The Company intends to promptly file amendments to its periodic reports described above that have previously been
filed with the Securities and Exchange Commission to reflect the restatements described in this Item 4.02 and in the
August 21, 2008 Form 8-K referred to above. The Company expects such amendments to be filed within the next several
weeks.
The management of the Company has discussed the matters disclosed in this item with the Company's independent
registered public accounting firm, Grant Thornton, LLP.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No.
Description
99.1
Press Release of Prime Group Realty Trust dated February 17, 2009
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
PRIME GROUP REALTY TRUST
By:
/
s/ Jeffrey A. Patterson
Jeffrey A. Patterson
Dated: February 17, 2009
President and Chief Executive Officer
EXHIBIT INDEX
Exhibit
No.
Description
99.1
Press Release of Prime Group Realty Trust dated February 17, 2009