Exhibit 2.5 CLOSING AGREEMENT This Closing Agreement (the "Agreement") is made and entered into as of the 27th day of June, 2003 (the "Effective Date"), by and among Stonehaven Realty Trust, a Maryland real estate investment trust ("Stonehaven"),...Closing Agreement • July 15th, 2003 • Paragon Real Estate Equity & Investment Trust • Real estate investment trusts • Delaware
