- "The acquisition of the remaining portion of the Playa Vista mezzanine loan is one of a limited number of investments we may make within our existing portfolio in the future," says Winthrop (FUR -0.3%) CEO Michel Ashner. Winthrop, of course, is in the process of liquidating its assets as the best way to realize share value.
- Purchased today is the remaining 50% interest in a mezzanine loan indirectly secured by Water's Edge at Playa Vista - a 2-building, 260K square foot office campus. The purchase price was $14M and the outstanding principal balance - bearing interest of Libor plus 15.75% - is $26.48M.
- Source: Press Release
From other sites
at Investor's Business Daily (Jan 8, 2015)
at Benzinga.com (Dec 31, 2014)
UPDATE: Compass Point Reiterates Lowers PT On Winthrop Realty Trust On Ex-Date Of First Liquidation Dividendat Benzinga.com (Dec 31, 2014)
at Nasdaq.com (Dec 30, 2014)
at MarketWatch.com (Oct 29, 2014)
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