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Winthrop Realty Trust Obtains $45 Million Mortgage Loan

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Enterprising Investor Member Level  Monday, 06/13/16 10:05:32 AM
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Winthrop Realty Trust Obtains $45 Million Mortgage Loan on Its Houston, Texas Property (6/13/16)

BOSTON, June 13, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) ("Winthrop") announced today that the venture in which Winthrop holds an 83.7% interest obtained a $45.0 million mortgage loan secured by its luxury apartment building located in Houston, Texas commonly known as Mosaic Apartments. Net proceeds from the loan to Winthrop are approximately $37.2 million. The loan bears interest at a rate of LIBOR plus 2.75%, requires payments of interest only for the first 12 months, matures on June 9, 2018, subject to two 12-month extensions, and is prepayable without premium or penalty at any time after December 9, 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://www.nasdaq.com/press-release/winthrop-realty-trust-obtains-45-million-mortgage-loan-on-its-houston-texas-property-20160613-00280

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