BOSTON, April 30 /PRNewswire-FirstCall/ -- Winthrop Realty Trust NYSE: FUR today announced that the condition to transferring the property located at 600 West Jackson Street, Chicago, Illinois, a property in its Marc Realty portfolio, has been satisfied and that the sale of this property pursuant to the previously disclosed installment sales contract is expected to occur within the next 90 days. Upon completion of this sale, the Company expects to receive approximately $2.8 million on its original $2.2 million investment made in April 2005, exclusive of the 7.65% interest that continues to be paid current. As a result, the Company will have received a total of approximately $4.5 million, exclusive of the 7.65% current interest, on an original investment of approximately $2.9 million made in April 2005 on this property and a second property in its Marc Realty portfolio, 999 East Touhy, Chicago, Illinois, which was sold in March 2008. The combined return to the Company on these two investments, assuming a final sale of the 600 West Jackson Street property in August 2008, is expected to be approximately 20%.
Winthrop Realty Trust is real estate investment trust (REIT) that owns, manages and lends to real estate and related investments, both directly and through joint ventures. Winthrop Realty Trust is listed on the New York Stock Exchange and trades under the symbol "FUR." The Company has executive offices in Boston, Massachusetts and Jericho, New York. For more information please visit www.winthropreit.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risk and uncertainties that may individually or collectively impact the matters herein described. These are detailed from time to time in the "Risk Factors" section of the Company's SEC reports. Further information relating to the Company's financial position, results of operations, and investor information is contained in the Company's annual and quarterly reports filed with the SEC and available for download at its website www.winthropreit.com or at the SEC website www.sec.gov.
Website: http://www.winthropreit.com/