Winthrop Realty Trust Announces Sale of Its Jacksonville, Florida Property
July 05 2016 - 8:00AM
Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that
its 550,000 square foot warehouse property located in Jacksonville,
Florida was sold for a gross sales price of $10,500,000. In
connection with the sale, Winthrop provided the buyer with
$8,400,000 of seller financing which bears interest at rate of
LIBOR plus 5%, with a minimum interest rate of 6% and maximum
interest rate of 8%. The loan requires monthly payments of
interest only and matures on July 1, 2019. The sales price is
consistent with the most recently reported liquidation value
attributable to this property.
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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