- Current report filing (8-K)
04 Giugno 2009 - 10:28PM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC
20549
FORM
8-K
Current
Report Pursuant
to
Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
report (Date of earliest event reported)
June 1,
2009
WINTHROP
REALTY
TRUST
(Exact
Name of Registrant as Specified in Its Charter)
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Ohio
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(State or Other Jurisdiction of
Incorporation)
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001-06249
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34-6513657
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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7
Bulfinch Place, Suite 500, P.O. Box 9507, Boston,
Massachusetts
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02114
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(617)
570-4614
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(Registrant's
Telephone Number, Including Area Code)
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n/a
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(Former
Name or Former Address, if Changed Since Last
Report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFT|R
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.03
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Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant
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On June 1, 2009, Winthrop Realty Trust
(the “Trust”), in connection with the purchase of the two first mortgage loans
described in Item 8.01 below, made a draw of $35 million on its $35 million
revolving credit facility with KeyBank National Association
(“KeyBank”). Pursuant to the terms of the credit facility, the Trust
is required to make monthly payments of interest only at a rate of LIBOR plus
300 basis points, subject to decrease to LIBOR plus 225 basis points if the
Trust establishes a cash collateral account at KeyBank equal to at least 50% of
the amount borrowed under the facility. As a result of this draw, the
Trust presently has no additional borrowing capacity under the credit
facility. Accordingly, the Trust will not be able to borrow any
additional funds under the facility unless it repays a portion of the borrowing
or the maximum borrowing permitted under the facility is increased.
On June 1, 2009, the Trust
acquired two first mortgage loans for an aggregate purchase price, after giving
effect to an additional advance of $850,000 on one of the loans, of $44
million. Both loans were acquired from the Trust’s Concord Debt
Holdings venture. The Trust financed the purchase from $35 million
drawn on its credit line with KeyBank as described in Item 2.03 above and the
balance from its cash reserves.
On June
2, 2009, the Trust issued a press release announcing the acquisition of the two
loans and describing the terms of the loans. A copy of the release is
furnished as Exhibit 99.1 to this Report on Form 8-K and is incorporated
herein by this reference.
Item
9.01
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Financial
Statements and Exhibits.
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(c) Exhibits
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99.1
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Press
Release dated June 2, 2009
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized on this 4th day of June, 2009.
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WINTHROP
REALTY TRUST
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By:
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/s/
Carolyn
Tiffany
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