Winthrop Realty Trust (FUR) - NYSE
  • Tue, Jul. 5, 9:39 AM
    • Winthrop Realty Trust (NYSE:FUR) sold its 550,000 sq. ft warehouse located in Florida for a gross sale price of $10.5M.
    • Buyer had seller financing of $8.4M at an interest rate of LIBOR plus 5%, minimum of 6% and maximum of 8%, interest payable monthly maturing on July 1, 2019.
    | Tue, Jul. 5, 9:39 AM
  • Tue, Jul. 5, 9:31 AM
    • The 550K square foot warehouse was sold for $10.5M, with Winthrop (NYSE:FUR) holding 8.4M of seller financing at an interest rate of Libor plus 5% (minimum of 6% and capped at 8%). The loan is interest only and matures in three years.
    • The sales price is consistent with what the company expected the liquidation value to be.
    | Tue, Jul. 5, 9:31 AM
  • Wed, Jun. 22, 1:01 PM
    | Wed, Jun. 22, 1:01 PM | 6 Comments
  • Wed, Jun. 22, 12:42 PM
    | Wed, Jun. 22, 12:42 PM | 1 Comment
  • Tue, Jun. 14, 8:19 AM
    • The board has declared a liquidating distribution of $1.25 per share payable on July 1 to holders of record on June 24. The money is coming from the recent financing on FUR's Houston apartment JV.
    • One East Erie in Chicago is under agreement for sale for $47.9M, with a non-refundable $750K deposit. The sale is expected to close on August 5.
    • Source: Press Release
    | Tue, Jun. 14, 8:19 AM | 20 Comments
  • Mon, Jun. 13, 8:14 AM
    • The venture in which Winthrop Realty (NYSE:FUR) owns an 83.7% interest secured a $45M mortgage backed by its luxury apartment building in Houston known as Mosaic Apartments. Net proceeds to Winthrop were $37.2M.
    • The interest rate is Libor +2.75%, Maturity is in two years, and there's no prepayment penalty after Dec. 9, 2016.
    • In other news, the stock will stop trading on the NYSE on August 1, with all remaining assets being transferred to a liquidating trust on August 5.
    | Mon, Jun. 13, 8:14 AM | 9 Comments
  • Fri, May 20, 7:30 AM
    • The luxury building known as Highgrove Apartments sold for $87.5M. In addition the owning venture (of which 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
    | Fri, May 20, 7:30 AM
  • Fri, May 13, 8:12 AM
    • Sold is Lake Brandt Apartments - 284 units in Greensboro, NC - for a gross price of $20M. After paying off the mortgage and closing costs, net proceeds to FUR will be about $6.3M, an amount consistent with the company's previous liquidation estimate.
    • Source: Press Release
    | Fri, May 13, 8:12 AM | 14 Comments
  • Thu, May 5, 8:42 AM
    • On August 5, any assets not yet sold will be placed into a liquidating trust. Interests in that trust will not be tradable.
    • Sold during Q1 was Chicago's Sullivan Center for $95.3M.
    • Leased were 701 Seventh Avenue in NYC and Churchill, PA.
    • Under contract is Highgrove apartment building in Stamford, CT for $87.5M. A previous buyer pulled out of the deal, leaving the JV which owns the property (of which FUR owns 83.7%) its $5M deposit. The new buyer has deposited $11M.
    • Also under contract is Lake Brandt apartments in Greensboro, NC for $20M, and a Jacksonville warehouse for $10.5M.
    • Three other properties are on the block.
    • A conference call is set for 12 ET
    • Source: Press Release
    | Thu, May 5, 8:42 AM
  • Thu, Apr. 28, 8:16 AM
    • The distribution is payable in cash on May 17 to owners of record on May 10. The money is coming from the net proceeds of the recent sale of FUR's Sullivan Center asset. With this $2, the company has made liquidating distributions of $6.50 per share since adopting the liquidation plan.
    • Source: Press Release
    | Thu, Apr. 28, 8:16 AM
  • Mon, Feb. 29, 11:59 AM
    • The company now sees future liquidating distributions (as of Dec. 31) of $14.18 per share, up one penny from the estimate three months earlier. The boost is mostly from an increase in the liquidation value of 701 Seventh Ave. Time Square investment to $202.1M. This was offset by cuts at four other projects.
    • The conference call starts right about now.
    • Source: Press Release
    • FUR +1.95% to $13.11
    | Mon, Feb. 29, 11:59 AM
  • Mon, Jan. 11, 8:18 AM
    • Winthrop Realty (NYSE:FUR) agrees to sell both its mezzanine loan and its entire ownership interest in its Sullivan Center venture to its JV partners for roughly $91.6M. WInthrop received a non-refundable $2M deposit in connection with the agreement.
    • The deal is expected to close in Q1. No word on whether the price was above, below, or inline with what Winthrop expected to receive for the assets.
    | Mon, Jan. 11, 8:18 AM
  • Tue, Jan. 5, 7:27 AM
    • A report in the San Antonio Business Journal said the company had purchased a multi-family property in that city. WInthrop (NYSE:FUR), of course, is in liquidation mode, and the report has been withdrawn.
    | Tue, Jan. 5, 7:27 AM
  • Sep. 17, 2015, 8:27 AM
    • Winthrop's (NYSE:FUR) Cerritos, CA office property sold for $30.5M, inline with what the company had guided for. Net proceeds to FUR were about $6.7M.
    • The sale of its Jacksonville property has fallen through after the potential buyer failed to post a non-refundable deposit, and the asset has been put back on the market.
    | Sep. 17, 2015, 8:27 AM
  • Jun. 5, 2015, 12:47 PM
    | Jun. 5, 2015, 12:47 PM | 9 Comments
  • Jun. 1, 2015, 5:10 PM
    • The sale of FUR's interest in its Vintage Housing Venture to Kennedy-Wilson resulted in net proceeds of about $84.7M - consistent where with Winthrop had previously estimated the asset's liquidation value.
    | Jun. 1, 2015, 5:10 PM
Company Description
Winthrop Realty Trust, Inc. operates as a real estate investment trust, which engages in the business of ownership, management and lending to real estate and related investments. It operates through three segments, such as the ownership of operating properties; the origination and acquisition of... More
Sector: Financial
Industry: REIT - Diversified
Country: United States