Winthrop Realty Trust Sells Property In Philadelphia For $85 Mln - Quick Facts

(RTTNews) - Winthrop Realty Trust (FUR) reported 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 million. Winthrop expects to realize net proceeds from the sale, after satisfying the third party mortgage loan, costs and closing adjustments, of approximately $40.8 million.

Winthrop, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust. 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.