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Highgrove Apartments Contract Terminated (1/27/16)

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Enterprising Investor Member Level  Wednesday, 01/27/16 09:47:59 PM
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Highgrove Apartments Contract Terminated (1/27/16)

BOSTON, Jan. 27, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) ("Winthrop") announced today that the contract to sell the apartment building located in Stamford, Connecticut owned by a venture in which Winthrop holds an 83.7% interest has been terminated in accordance with its terms. Pursuant to the terms of the contract, the venture retained the $5,000,000 deposit as the venture was ready, willing and able to close on the closing date. In light of the termination of the contract, the property will be re-marketed for sale.

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://www.nasdaq.com/press-release/highgrove-apartments-contract-terminated-20160127-01300

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