Winthrop Realty Trust Acquires Interests In Four Loans
BOSTON, Jan. 4 /PRNewswire-FirstCall/ -- Winthrop Realty Trust (NYSE: FUR) announced that it has acquired for a gross price of $15.6 million junior participations or rake bonds in three first mortgage loans as well as a mezzanine loan together which have an aggregate outstanding balance of $34.8 million. Each loan or bond is secured by either a class A office building located in New York city, a class A office building located in the greater Los Angeles metro market, the Beverly Hills Hilton Hotel or a retail condominium building located in New York city.
Michael L. Ashner, the Company's Chairman and Chief Executive Officer, stated "in each instance we targeted a debt position in the underlying collateral's capital stack which we believe may be the fulcrum position in connection with a recapitalization of such asset."
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 .SOURCE Winthrop Realty Trust
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