BOSTON, Dec. 3, 2014 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) ("Winthrop") announced today that it has sold to an unaffiliated third party its office building property located at 1515 Market Street, Philadelphia, Pennsylvania for a gross sales price of $85,000,000. Winthrop expects to realize net proceeds from the sale, after satisfying the third party mortgage loan, costs and closing adjustments, of approximately $40,800,000. Both the gross sales price and net proceeds are consistent with the portion of Winthrop's liquidation value reported in its Quarterly Report on Form 10-Q for the period ended September 30, 2014 attributable to this asset.
About Winthrop Realty Trust
Winthrop, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust (REIT). Winthrop's shareholders recently 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.