Winthrop Realty Trust Announces Acquisition of Office Building and Rake Bond
05 Gennaio 2011 - 11:00PM
Winthrop Realty Trust (NYSE:FUR), a diversified REIT that focuses
on opportunistic debt and equity investments in real estate,
announced today that it has acquired for a purchase price of
approximately $8.7 million the 118,000 square foot Crossroads I
office building located in Englewood, Colorado. The property is
adjacent to the previously acquired 118,000 square foot Crossroads
II office building and collectively, the two properties are 56.2%
occupied and were developed in 2000 and 2001.
In addition, Winthrop acquired two rake bonds with a weighted
average coupon of Libor plus 1.30% which have an aggregate face
amount of approximately $8.7 million for $5.25 million. The
rake bonds are subordinate to $72.8 million of senior debt and are
secured by the 260,000 square feet of office space constituting the
office portion of Metropolitan Tower located in New York
City. The rake bonds mature in November 2011.
Winthrop Realty Trust is a NYSE-listed real estate investment
trust (REIT) headquartered in Boston,
Massachusetts. Additional information on Winthrop Realty Trust
is available on its 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: Winthrop Realty Trust
Investor or Media Inquiries
Beverly Bergman
(617) 570-4614
bbergman@firstwinthrop.com
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