Winthrop Realty Trust Enters Into Contract to Sell Its Interest in the Sullivan Center Venture
BOSTON, Jan. 11, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) ("Winthrop") announced today that it has entered into a binding agreement with its Sullivan Center venture partner to sell both its mezzanine loan and its entire ownership interest in its Sullivan Center venture for an aggregate purchase price of approximately $91.6 million subject to upward adjustment for additional advances prior to closing by Winthrop on the mezzanine loan and accrued and unpaid interest. In connection with entering into the agreement Winthrop received a non-refundable deposit of $2.0 million. The sale is currently expected to close during the first quarter of 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: email@example.com