Winthrop Realty Trust Announces Acquisition Of Office Building And Rake Bond
BOSTON, Jan. 5, 2011 (GLOBE NEWSWIRE) -- 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 firstname.lastname@example.org
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