BOSTON, June 13, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that the venture in which Winthrop holds an 83.7% interest obtained a $45.0 million mortgage loan secured by its luxury apartment building located in Houston, Texas commonly known as Mosaic Apartments. Net proceeds from the loan to Winthrop are approximately $37.2 million. The loan bears interest at a rate of LIBOR plus 2.75%, requires payments of interest only for the first 12 months, matures on June 9, 2018, subject to two 12-month extensions, and is prepayable without premium or penalty at any time after December 9, 2016.
About Winthrop Realty Trust
Winthrop, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust (REIT). Winthrop’s shareholders have adopted a plan of liquidation pursuant to which Winthrop is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value. 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.