Winthrop Realty Trust FUR announced today that:
on March 31, 2011 its Metropolitan Tower B Note and rake bond receivable was satisfied at par. As a result, Winthrop will receive a principal repayment of approximately $23.75 million on account of its original aggregate $11.75 million investment.
its 50/50 joint venture with Retail Opportunity Investments Corp. completed the previously reported acquisition at par of two non-performing first mortgage loans with a total outstanding balance of $35.6 million secured by two grocery anchored retail centers located in Riverside County, California. Upon acquisition, the joint venture immediately commenced foreclosure on the underlying properties.
it has entered into an agreement with Axxcess Capital Ventures, LLC, an advisory firm focused on the tenant-in-common industry, pursuant to which Axxcess will source opportunities for Winthrop to acquire tenant-in-common sponsors and properties.
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