BOSTON, May 19, 2015 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) ("Winthrop") announced today that its Concord Debt Holdings venture ("Concord") received a distribution from the sale of the luxury hotel assets owned by the MSREF hotel venture. Winthrop's portion of the distribution received by Concord was approximately $20.2 million. In addition, a portion of the purchase price is being held in reserves which, if fully released, could result in an additional distribution to Winthrop of approximately $1.6 million. The distribution received is in excess of the estimated liquidation value for this asset as of March 31, 2015.
About Winthrop Realty Trust
Winthrop, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust (REIT). In August 2014, Winthrop's shareholders 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: Winthrop Realty Trust Carolyn Tiffany Investor or Media Inquiries Phone: (617) 570-4614; e-mail: firstname.lastname@example.orgSource:Winthrop Realty Trust