Winthrop Realty Trust Announces Refinancing of Mortgage Loan on Sullivan Center Property
21 Ottobre 2013 - 2:00PM
Winthrop Realty Trust (NYSE:FUR) announced today that the existing
mortgage loan secured by the 942,000 square foot, office and retail
property located at One South State Street, in downtown Chicago,
Illinois has been refinanced. The new loan replaces a $110.8
million loan that bore interest at 11% per annum with a new $113.5
million loan that bears interest at a rate of 3.95% per annum. The
new loan requires payments of interest only and matures November
2018.
Winthrop holds this property through a venture in which it
currently holds an approximately 35% equity interest. Winthrop also
holds the mezzanine loan indirectly secured by the property that
has an outstanding balance of principal and accrued interest of
approximately $56.15 million and which bears interest at 15% per
annum.
The property is currently 83.2% occupied and has current annual
projected net operating income of approximately $13.5
million. Retail anchor tenants include Target and DSW Shoe
Stores and office major tenants include The Art Institute of
Chicago, the Illinois Department of Employment Security and
Walgreens E-Commerce Institute.
About Winthrop Realty Trust
Winthrop Realty Trust, headquartered in Boston, Massachusetts,
is a NYSE-listed real estate investment trust (REIT) focused on
acquiring, owning, operating and investing in real property, real
estate secured loans and REIT preferred and common stock. 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: Winthrop Realty Trust
Beverly Bergman
Investor or Media Inquiries
Phone: (617) 570-4614;
e-mail: bbergman@firstwinthrop.com
Grafico Azioni Winthrop (NYSE:FUR)
Storico
Da Set 2024 a Ott 2024
Grafico Azioni Winthrop (NYSE:FUR)
Storico
Da Ott 2023 a Ott 2024
Notizie in Tempo Reale relative a Winthrop Realty Trust New (delisted) (Borsa di New York (NYSE)): 0 articoli recenti
Più Articoli Notizie