Winthrop Realty Liquidating Trust to Make Distribution of $1.00 Per Beneficial Interest
12 8월 2016 - 4:04AM
Winthrop Realty Liquidating Trust (the “Trust”) announced today the
sale of its One East Erie office property located in Chicago,
Illinois. After satisfying all closing costs associated with
the sale, the Trust received an aggregate of approximately $46.8
million from the sale. The amount received is consistent with
Winthrop Realty Trust’s most recently reported liquidation value
attributable to this asset.
In addition, the $11.0 million mezzanine loan
indirectly secured by Waterfront Plaza, Honolulu, Hawaii and held
by the Trust’s Concord Debt Holdings venture, in which the Trust
holds a two-thirds interest, was satisfied in full. The
amount received is consistent with Winthrop Realty Trust’s most
recently reported liquidation value attributable to this asset.
As a result of the sale of One East Erie and the
payoff of the Waterfront mezzanine loan, the Trust’s trustees have
approved a liquidating distribution of $1.00 per common beneficial
interest in the Trust payable in cash on or about August 23,
2016. For tax purposes, no gain or loss was recognized on the
property sale or the loan payoff and the liquidating distribution
is considered a return of capital.
About Winthrop Realty Liquidating
Trust
Winthrop Realty Liquidating Trust was formed to
continue the liquidation process of remaining assets held by
Winthrop Realty Trust at August 5, 2016. The Trust’s sole
purpose is to continue to seek to sell these assets in an orderly
fashion to maximize value to its beneficiaries. Subject to
certain exceptions related to transfer by will, intestate
succession or operation of law, interests in the Trust are not
transferable, nor do beneficiaries have authority or power to sell
or in any other manner dispose of their interest in the
Trust. For more information about the Trust’s remaining
assets, please visit our web-site at www.winthropreit.com.
Contact at Winthrop Realty Liquidating Trust
Carolyn Tiffany
Investor or Media Inquiries
Phone: (617) 570-4614; e-mail: ctiffany@firstwinthrop.com
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