FUR Winthrop Realty Trust New (delisted)

First Union Real Estate Equity and Mortgage Investments Announces It Has Acquired a 25% Participation Interest in a First Mortgage Loan Secured by a Property in New York, New York BOSTON, May 19 /PRNewswire-FirstCall/ -- First Union Real Estate Equity and Mortgage Investments announced today that it acquired a 25% participation interest in a loan secured by a first mortgage loan on real property located in New York City's Chelsea area for a purchase price of $2,676,667. The current principal amount of the loan is approximately $10.7 million, bears interest at LIBOR plus 9.5% per annum and is scheduled to mature in April 2009. Certain statements contained in this press release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. Further information about these matters and the risks generally with respect to First Union can be found in First Union's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. First Union Real Estate Equity and Mortgage Investments is a NYSE-listed real estate investment trust (REIT) headquartered in Boston, Massachusetts. DATASOURCE: First Union Real Estate Equity and Mortgage Investments CONTACT: Carolyn Tiffany, Chief Operating Officer of First Union Real Estate Equity and Mortgage Investments, +1-617-570-4614

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