BOSTON, Aug. 01, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today the sale of the Mentor Building in Chicago, Illinois which was held by a venture in which Winthrop holds a 49.9% interest. In addition, Winthrop held the mortgage loan on the property. After satisfying all closing costs associated with the sale, Winthrop received an aggregate of approximately $6.35 million from the loan repayment and its equity investment. The amount received is consistent with the most recently reported liquidation value attributable to this asset.
Shareholders are reminded that, as previously reported, today, August 1, 2016, is the last day on which Winthrop’s common shares will be traded on the New York Stock Exchange.
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: email@example.com
Source:Winthrop Realty Trust