Winthrop Realty Trust (fka FUR)

[Enterprising Investor]

Original Highgrove Terms (6/26/15)

The venture in which the Trust holds an 83.7% interest entered into a contract to sell its apartment building located in Stamford, Connecticut for gross proceeds of $90,000,000. The buyer’s $2,000,000 deposit under the purchase contract became non-refundable, subject to customary closing conditions, on 6/30/15. An additional $2,000,000 non-refundable deposit was received from the buyer in October 2015. The deal was scheduled to close in the fourth quarter of 2015. FUR must have received an additional deposit subsequent to 11/01/15 when the last Form 10-Q was filed.

The liquidation value of the property was $84,867,000 at 12/31/14. The liquidation value at 9/30/15 was $90,000,000 reflecting the contract for sale.