Replies to post #8 on 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.

[Enterprising Investor]

Winthrop Realty Trust Announces Sale of Its Highgrove Apartments in Stamford, Connecticut (5/19/16)

BOSTON, May 19, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that the venture in which Winthrop holds an 83.7% interest sold its luxury apartment building located in Stamford, Connecticut commonly known as Highgrove Apartments for a gross sales price of $87,500,000. In addition, the venture retained $2,500,000 of the deposit previously provided by a prior potential purchaser resulting in gross proceeds to the venture of $90,000,000. After satisfying the debt encumbering the property and closing costs, net proceeds from the sale, inclusive of the retained prior deposit, allocable to Winthrop were approximately $8,645,000, which amount 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/2016/05/19/841804/0/en/Winthrop-Realty-Trust-Announces-Sale-of-Its-Highgrove-Apartments-in-Stamford-Connecticut.html