- 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