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Winthrop Realty sells Stamford apartment building

May 20, 2016 7:30 AM ETWinthrop Realty Trust (FUR) StockBy: Stephen Alpher, SA News Editor
  • The luxury building known as Highgrove Apartments sold for $87.5M. In addition the owning venture (of which NYSE:FUR was a part of) retained $2.5M of the deposit provided by a prior potential purchaser, resulting in total gross proceeds of $90M.
  • After paying off the debt, and charges relating to the sale, proceeds to Winthrop were about $8.645M, inline with the most recently reported liquidation value the company had attributed to this property.
  • Source: Press Release

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