BOSTON, June 07, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) (“Winthrop”) announced today that the previously reported lease being held in escrow by its venture which owns 701 Seventh Avenue (a/k/a 20 Times Square) in Times Square, New York for retail space that includes part of the ground floor fronting Seventh Avenue, the entire 2nd, 3rd and 4th floors as well as part of the superstructure sign is fully executed and has been released from escrow. The lease is with Cirque Theatrical, L.L.C. for a venture between Cirque du Soleil and National Football League Properties. The lease terms are consistent with those utilized to determine Winthrop’s most recent liquidation value for the asset.
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.