Winthrop Realty Trust (fka FUR)

[Enterprising Investor]

Winthrop Realty Trust Enters Into Contract to Sell Its Interest in the Sullivan Center Venture (1/11/16)

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.

http://globenewswire.com/news-release/2016/01/11/800866/0/en/Winthrop-Realty-Trust-Enters-Into-Contract-to-Sell-Its-Interest-in-the-Sullivan-Center-Venture.html