Winthrop Realty Liquidating Trust to Make Distribution of $0.50 Per Beneficial Unit
BOSTON, June 19, 2018 (GLOBE NEWSWIRE) -- Winthrop Realty Liquidating Trust (the "Trust") announced today that the Trust's trustees have approved a liquidating distribution of $0.50 per common beneficial unit in the Trust payable in cash on June 27, 2018 to holders of record on June 20, 2018. The distribution is being made from the proceeds of a partial satisfaction of the $75.0 million promissory note received by its 20 Times Square joint venture from the recent 20 Times Square transaction. As the Trust is treated as a partnership for tax purposes, the withholding agent for foreign investors is required to make quarterly withholding payments to the IRS based on the Trust's "effectively connected income." The Trust maintains its previously announced estimate that 2018 effectively connected income will be approximately $0.91 per share for the year ended December 31, 2018.
Since August 5, 2014, the date on which Winthrop Realty Trust’s shareholders adopted its plan of liquidation, Winthrop Realty Trust and the Trust have disposed of 45 of its 51 assets that it held on such date and paid total distributions per beneficial interest of $16.40. For a description of the Trust’s remaining assets please go to the Trust’s website, www.winthropreit.com on the Company Profile page.
About Winthrop Realty Liquidating Trust
Winthrop Realty Liquidating Trust was formed to continue the liquidation process of remaining assets held by Winthrop Realty Trust at August 5, 2016. The Trust’s sole purpose is to continue to seek to sell these assets in an orderly fashion to maximize value to its beneficiaries. Subject to certain exceptions related to transfer by will, intestate succession or operation of law, interests in the Trust are not transferable, nor do beneficiaries have authority or power to sell or in any other manner dispose of their interest in the Trust. For more information about the Trust’s remaining assets, please visit our web-site at www.winthropreit.com.
Contact at Winthrop Realty Liquidating Trust
Investor or Media Inquiries
Phone: (617) 570-4614; e-mail: email@example.com