Winthrop Realty Trust Acquires Matured Mortgage Loan Secured by Office Building in Philadelphia, Pennsylvania
BOSTON, Dec. 12, 2012 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE: FUR) announced today that it has acquired a non-performing first mortgage loan secured by a 20-story, 514,000 square foot office building located at 1515 Market Street, Philadelphia, Pennsylvania. The loan, which is currently in maturity default, has an outstanding balance, exclusive of interest, default interest and late charges, of approximately $70 million and was acquired for approximately $56.85 million.
About Winthrop Realty Trust
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.