Winthrop Realty Trust Obtains $45 Million Mortgage Loan on Its Houston, Texas Property
June 13 2016 - 8:00AM
Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that
the venture in which Winthrop holds an 83.7% interest obtained a
$45.0 million mortgage loan secured by its luxury apartment
building located in Houston, Texas commonly known as Mosaic
Apartments. Net proceeds from the loan to Winthrop are
approximately $37.2 million. The loan bears interest at a
rate of LIBOR plus 2.75%, requires payments of interest only for
the first 12 months, matures on June 9, 2018, subject to two
12-month extensions, and is prepayable without premium or penalty
at any time after December 9, 2016.
About Winthrop Realty Trust
Winthrop, headquartered in Boston,
Massachusetts, is a NYSE-listed real estate investment trust
(REIT). Winthrop’s shareholders have adopted a plan of
liquidation pursuant to which Winthrop is liquidating and winding
down and, in connection therewith, is seeking to sell its assets in
an orderly fashion to maximize shareholder value. For more
information, please visit our web-site at www.winthropreit.com.
“Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995. With the exception
of the historical information contained in this news release, the
matters described herein contain “forward-looking” statements that
involve risk and uncertainties that may individually or
collectively impact the matters herein described. These are
detailed from time to time in the “Risk Factors” section of the
Company’s SEC reports. Further information relating to the
Company’s financial position, results of operations, and investor
information is contained in the Company’s annual and quarterly
reports filed with the SEC and available for download at its
website www.winthropreit.com or at the SEC website www.sec.gov.
Contact at Winthrop Realty Trust
Carolyn Tiffany
Investor or Media Inquiries
Phone: (617) 570-4614; e-mail: ctiffany@firstwinthrop.com
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