0001193805-12-001724.txt : 20121019 0001193805-12-001724.hdr.sgml : 20121019 20121019163713 ACCESSION NUMBER: 0001193805-12-001724 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20121016 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20121019 DATE AS OF CHANGE: 20121019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Winthrop Realty Trust CENTRAL INDEX KEY: 0000037008 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 346513657 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06249 FILM NUMBER: 121152800 BUSINESS ADDRESS: STREET 1: 7 BULFINCH PLACE STREET 2: SUITE 500 PO BOX 9507 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 6175704614 MAIL ADDRESS: STREET 1: 7 BULFINCH PLACE STREET 2: SUITE 500 PO BOX 9507 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION REAL ESTATE EQUITY & MORTGAGE INVESTMENTS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION REALTY DATE OF NAME CHANGE: 19691012 8-K 1 e610161_8k-wrt.htm Unassociated Document
 
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

FORM 8-K

Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported) October 16, 2012

WINTHROP REALTY TRUST
(Exact Name of Registrant as Specified in Its Charter)
 
  Ohio  
 
(State or Other Jurisdiction of Incorporation)
  
 
001-06249   34-6513657
(Commission File Number)   (I.R.S. Employer Identification No.)
     
7 Bulfinch Place, Suite 500, P.O. Box 9507, Boston, Massachusetts 02114
(Address of Principal Executive Offices)  (Zip Code)
     
 
(617) 570-4614
  
(Registrant's Telephone Number, Including Area Code)
 
n/a
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFT|R 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 8.01.  Other Events
 
On October 16, 2012, Winthrop Realty Trust (“Winthrop”) announced that it had (i) entered into a venture with The Witkoff Group and New Valley LLC to acquire and redevelop the property located at 701 Seventh Avenue, New York, New York, which is the northeast corner of 7th Avenue and 47th Street in the Times Square submarket of New York City, (ii) acquired four B Notes and (iii) received payment on two loan receivables.  A copy of the release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

On October 18, 2012, Winthrop announced that it sold 52% of its shares of common stock in Cedar Realty Trust, Inc.  A copy of the release is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

Item 9.01                Financial Statements and Exhibits.

(c)           Exhibits

 
99.1
Press Release dated October 16, 2012
 
99.2
Press Release dated October 18, 2012
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 19th day of October, 2012.
 
 
WINTHROP REALTY TRUST
  
       
 
By:
/s/ Michael L. Ashner  
   
Michael L. Ashner
  
   
Chief Investment Officer
  
       

EX-99.1 2 e610161_ex99-1.htm Unassociated Document
 
Exhibit 99.1

Contact at Winthrop Realty Trust
Beverly Bergman
Investor or Media Inquiries
Phone: (617) 570-4614; e-mail: bbergman@firstwinthrop.com
 
FOR IMMEDIATE RELEASE
October 16, 2012

WINTHROP REALTY TRUST ENTERS INTO VENTURE TO REDEVELOP TIMES SQUARE NEW YORK PROPERTY

Acquires Four B Notes at a Discount and Receives Payment in Full on Two Loan Receivables

FOR IMMEDIATE RELEASE – BOSTON, October 16, 2012/ -- Winthrop Realty Trust (NYSE:FUR) announced today that it has entered into a venture with The Witkoff Group and New Valley LLC (the "JV") to acquire and redevelop the property located at 701 Seventh Avenue, New York, New York, which is the northeast corner of 7th Avenue and 47th Street in the Times Square submarket of New York City.  The proposed redevelopment will include an expansion of the retail space to approximately 80,000 square feet, installing an approximately 22,000 square foot state of the art LED sign, and potential development of a hotel. Winthrop has committed to invest up to $68.0 million on a preferred equity basis with an initial contribution of approximately $29.0 million

In addition, Winthrop recently (i) acquired for $20.7 million four B-Notes with an aggregate principal balance of $25.7 million, secured by two office buildings in Burbank, California and two retail properties in Hawaii, (ii) received payment in full on its $30.0 million first mortgage loan secured by a 326,000 square foot commercial building located in Ft. Lauderdale, Florida resulting in a 22% return to Winthrop and (iii) received payment in full on its $15.6 million B Participation in a $70.0 million mortgage loan secured by multiple properties in Riverside, California resulting in a 12% return to Winthrop.

__________________

About Winthrop Realty Trust

Winthrop Realty Trust, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust (REIT) focused on acquiring, owning, operating and investing in real property as well as real estate financial instruments including CMBS, bonds, REIT preferred and common stock.  For more information, please visit our web-site at 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.


 EX-99.2 3 e610161_ex99-2.htm Unassociated Document
Exhibit 99.2

Contact at Winthrop Realty Trust
Beverly Bergman
Investor or Media Inquiries
Phone: (617) 570-4614; e-mail: bbergman@firstwinthrop.com
 
FOR IMMEDIATE RELEASE
October 18, 2012

WINTHROP REALTY TRUST SELLS 52% OF ITS INTEREST IN
CEDAR REALTY TRUST

FOR IMMEDIATE RELEASE – BOSTON, October 18, 2012/ -- Winthrop Realty Trust (NYSE:FUR) announced today that it sold 3,250,000 of its 6,250,716 common shares in Cedar Realty Trust for net proceeds of approximately $17.1 million.  Winthrop’s average aggregate cost for such shares was approximately $12.3 million.
 
__________________

About Winthrop Realty Trust

Winthrop Realty Trust, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust (REIT) focused on acquiring, owning, operating and investing in real property as well as real estate financial instruments including CMBS, bonds, REIT preferred and common stock.  For more information, please visit our web-site at www.winthropreit.com.