The Prime Group, Inc. Launches Alternative Investment Ad Campaign

CHICAGO, March 18, 2015 /PRNewswire/ -- Title II of the Jobs Act removed the ban on general solicitation; issuers of debt and equity securities can now advertise directly to investors. Without the expensive middlemen, both companies and investors see larger returns on their investment. Zacks Direct's latest client leveraging this opportunity is The Prime Group, Inc., led by experienced real estate developer Michael W. Reschke. As the first offering in it's direct to investors program, The Prime Group, Inc. will be issuing senior notes at 10% on a unique landmark property in downtown Chicago.

Landmark Building in Chicago's Vibrant Loop
Designed by Daniel Burnham, the classic City National Bank Building at 208 S. LaSalle Street stands as an impressive example of Chicago's rich architectural history.  The historic building was recently renovated and stands in a prominent position in Chicago's central business district, an area that has seen a recent renaissance. Ten new hotels have opened or are under construction in the last five years, and the office rents and occupancy levels are up. The residential population in this area has doubled in the past decade.

Booming Neighborhood Has Growing Need for Upscale Hotels and Meeting Places
208 S. LaSalle is already home to a J.W. Marriott Hotel on the first twelve floors. The mixed-use building boasts a 94% occupancy rate of commercial office tenants on floors 13 through 17, and 16,000 RSF of retail space on the ground floor.  Due to a pending tenant relocation, Prime saw the unique opportunity of converting floors 18 through 22 of this building into a new 234-key upscale lifestyle boutique hotel that will include 7,500 SF of ballroom and meeting spaces; a new fine-dining restaurant and bar with a 3,000 SF outdoor terrace; and a 1,500 SF fitness center. The proceeds of this offering will be used to fund the first stage of this project.

Experienced Real Estate Developer with a Vision for Chicago's Future Cityscape
Reschke, Chairman and CEO of Prime, has been involved in Chicago real estate for over thirty years. His extensive experience offers that rare edge of a player who recognizes both the value of unique properties and also knows how to transform them into profitable development opportunities that meet clear demand. The City National Bank Building fits well with Reschke's vision of Chicago's architectural landscape. "In 2008, we made a significant bet that there was substantial, pent-up demand for new hotel product in the heart of downtown Chicago," says Reschke. He adds, "We were proven right in 2011 when we opened the J.W. Marriott, and we are confident the market is ready for our new lifestyle boutique hotel at the same location."

Chicago is the Ideal Place to Redevelop Historic Buildings for Modern Appeal
"Since the JOBS Act was passed, we have seen more opportunities available to investors than ever before," says Ann Pichette, EVP, Zacks Direct. "We are thrilled to support the capital raise for the redevelopment of such an historic building. Chicago has always merged the classic features of architecture with bold, modern uses. This landmark building is a great example of Chicago's architectural appeal."

The Prime Group, Inc.
Since its founding in 1982, the organization has financed, developed, and acquired more than $12 billion of institutional-quality commercial and residential real estate and has taken five real estate companies public.

Zacks Direct Alternative Investment Advertising
Zacks Direct, a division of Zacks Investment Research, provides a full suite of advertising and marketing services. With decades of experience in advertising to sophisticated investors, the Zacks Direct team has an extensive understanding of the investment audience; their proprietary network and database allows them to communicate with more than 500,000 accredited investors today.

Media Contacts:

The Prime Group, Inc. 
Timothy French, (312) 917-4280, [email protected] 

Zacks Direct 
Ann Pichette, (312) 265-9187, [email protected]

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SOURCE Zacks Direct