Non-controlling Interests

9 Months Ended

Sep. 30, 2013

12.

Non-controlling Interests

Houston, Texas Operating Property – During the first quarter of 2013, a wholly-owned subsidiary of the Trust acquired a quarter-unit limited partner interest, representing 1% of 5400 Westheimer Holding LP (“Westheimer”), for a purchase price of $75,000. The Trust accounted for this purchase as an equity transaction recording the difference in the $127,000 carrying value of the acquired non-controlling interest and the purchase price as a $52,000 increase in paid-in capital. During the second quarter of 2013, the wholly-owned subsidiary acquired an additional 1% interest in Westheimer for a purchase price of $75,000. The Trust accounted for this purchase as an equity transaction recording the difference in the $126,000 carrying value of the acquired non-controlling interest and the purchase price as a $51,000 increase in paid-in capital. As a result, the Trust now owns 32% of Westheimer.

One East Erie/Ontario Operating Property – On June 1, 2012 the Trust purchased from Marc Realty its 20% non-controlling interest in FT-Ontario Holdings LLC for $5,850,000. The Trust accounted for this purchase as an equity transaction recording the difference in the $363,000 carrying value of the acquired non-controlling interest and the purchase price as a $5,487,000 reduction in paid-in capital.

Deer Valley Operating Property – On March 29, 2012 the Trust purchased the 3.5% non-controlling ownership interest of its consolidated joint venture, WRT-DV LLC, for $400,000. The Trust accounted for the purchase as an equity transaction recording the difference in the $192,000 carrying value of the acquired non-controlling interest and the purchase price as a $208,000 reduction in paid-in capital.

The changes in the Trust’s ownership interest in the subsidiaries impacted consolidated equity during the period are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012

Net income attributable to Winthrop Realty Trust	$	11,728	$	15,108	$	33,848	$	26,719

Increase (decrease) in Winthrop Realty Trust’s paid in capital related to purchases of non-controlling interests		—		—		103		(5,695	)


Changes from net income attributable to Winthrop Realty Trust and transfers (to) from non-controlling interests	$	11,728	$	15,108	$	33,951	$	21,024

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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