Winthrop Realty Trust (fka FUR)

[Enterprising Investor]

Winthrop Realty Trust Announces Sale of Its Jacksonville, Florida Property (7/05/16)

BOSTON, July 05, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that its 550,000 square foot warehouse property located in Jacksonville, Florida was sold for a gross sales price of $10,500,000. In connection with the sale, Winthrop provided the buyer with $8,400,000 of seller financing which bears interest at rate of LIBOR plus 5%, with a minimum interest rate of 6% and maximum interest rate of 8%. The loan requires monthly payments of interest only and matures on July 1, 2019. The sales price 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.

http://globenewswire.com/news-release/2016/07/05/853629/0/en/Winthrop-Realty-Trust-Announces-Sale-of-Its-Jacksonville-Florida-Property.html