Winthrop Realty Trust Announces Sale of Its Highgrove Apartments in Stamford, Connecticut
19 Mayo 2016 - 3:30PM
Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that
the venture in which Winthrop holds an 83.7% interest sold its
luxury apartment building located in Stamford, Connecticut commonly
known as Highgrove Apartments for a gross sales price of
$87,500,000. In addition, the venture retained $2,500,000 of
the deposit previously provided by a prior potential purchaser
resulting in gross proceeds to the venture of $90,000,000.
After satisfying the debt encumbering the property and closing
costs, net proceeds from the sale, inclusive of the retained prior
deposit, allocable to Winthrop were approximately $8,645,000, which
amount 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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