BOSTON, Sept. 16, 2015 (GLOBE NEWSWIRE) — Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that its office property located in Cerritos, California was sold for a gross sales price of $30,500,000 which is consistent with the Company’s liquidation value at June 30, 2015. After satisfying the debt encumbering the property and closing costs, net proceeds to Winthrop were approximately $6,700,000.
Winthrop also announced that the potential purchaser of its Jacksonville, Florida property failed to post a non-refundable deposit and the contract was terminated. Accordingly, the property is currently being 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.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. With the exception of the historical information contained in this news release, the matters described herein contain “forward-looking” statements that involve risk and uncertainties that may individually or collectively impact the matters herein described. These are detailed from time to time in the “Risk Factors” section of the Company’s SEC reports. Further information relating to the Company’s financial position, results of operations, and investor information is contained in the Company’s annual and quarterly reports filed with the SEC and available for download at its website www.winthropreit.com or at the SEC website www.sec.gov.
CONTACT: Contact at Winthrop Realty Trust Carolyn Tiffany Investor or Media Inquiries Phone: (617) 570-4614; e-mail: firstname.lastname@example.org