Ohio | ||
(State or Other Jurisdiction of Incorporation)
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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
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(Registrant's Telephone Number, Including Area Code)
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n/a |
(Former Name or Former Address, if Changed Since Last Report)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFT|R 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.01
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Completion of Acquisition or Disposition of Assets.
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44 Monroe, located in Phoenix, Arizona, is a 34-story residential building comprised of 198 units with 1,377 square feet of ground level retail space. Fourteen of the units were sold as condominiums and are not included in this acquisition. Constructed in 2008, the property’s amenities include a spa and swimming pool with sundeck, fully furnished clubroom, outdoor terrace with gas grill and fire pit, 24-hour lobby attendant, fitness center, business center, eight floors of secured parking, and conference room.
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Highgrove, located in Stamford, Connecticut, is an 18-story residential building comprised of 92 condominium quality units. Constructed in 2011, the property’s amenities include a 24-hour doorman and concierge, valet parking, shuttle to metro station, fitness club and spa with steam, sauna and locker rooms, yoga studio, sky lit indoor pool with retractable roof and Jacuzzi, walk-in climate-controlled wine cellar, movie screening room, card and billiards room, dog walk area, and furnished tenant guest lodgings.
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Mosaic II, located in Houston, Texas, is a 29-story residential building comprised of 396 units and 20,065 square feet of ground level retail space. Constructed in 2009, the property’s amenities include a 24-hour valet parking service, a 6,000-square foot wellness center with steam rooms and saunas, an infinity-edge pool, full service 24-hour concierge services, penthouse units of up to 2,959 square feet, and a 6,500 square foot social lounge and recreation area.
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San Pedro Lofts, located in San Pedro, California, is comprised of 89 units in two distinct residential buildings with 3,545 square feet of ground level retail space. Constructed in 2008, the property’s amenities include a sun deck with barbeque, an outdoor fireplace, a fitness center, secured covered parking with a 1.6+ parking ratio in two subterranean, controlled access parking garages, and an outdoor community courtyard.
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Property
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Year Completed
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Number of
Units
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Occupancy Percentage1
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Allocated Purchase Price
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Allocated Purchase Price Per Square
Foot2
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Estimated Range of Replacement Cost
Per Square Foot
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44 Monroe
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2008
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184
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90%
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$40,000,000
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$159
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$400-450
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Highgrove
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2011
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92
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93%
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$80,000,000
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$329
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$500-600
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Mosaic II
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2009
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396
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92%
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$106,000,000
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$254
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$335-365
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San Pedro Lofts
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2008
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89
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98%
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$20,000,000
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$152
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$230-260
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Item 2.03
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Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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Item 8.01
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Other Events
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Item 9.01
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Financial Statements and Exhibits.
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99.1
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Press Release dated October 31, 2013
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WINTHROP REALTY TRUST
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By:
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/s/ Michael L. Ashner | ||
Michael L. Ashner
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Chief Executive Officer
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·
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44 Monroe, located in Phoenix, Arizona, is a 34-story residential building comprised of 184 units originally built for sale as condominiums with 1,377 square feet of ground level retail space. Constructed in 2008, the property’s amenities include a spa and swimming pool with sundeck, fully furnished clubroom, outdoor terrace with gas grill and fire pit, 24-hour lobby attendant, fitness center, business center, eight floors of secured parking, and conference room.
|
|
·
|
Highgrove, located in Stamford, Connecticut, is an 18-story residential building comprised of 92 condominium quality units. Constructed in 2011, the property’s amenities include a 24-hour doorman and concierge, valet parking, shuttle to metro station, fitness club and spa with steam, sauna and locker rooms, yoga studio, sky lit indoor pool with retractable roof and Jacuzzi, walk-in climate-controlled wine cellar, movie screening room, card and billiards room, dog walk area, and furnished tenant guest lodgings.
|
|
·
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Mosaic II, located in Houston, Texas, is a 29-story residential building comprised of 396 units and 20,065 square feet of ground level retail space. Constructed in 2009, the property’s amenities include a 24-hour valet service, a 6,000-square foot wellness center with steam rooms and saunas, an infinity-edge pool, full service 24-hour concierge services, penthouse units of up to 2,959 square feet, and a 6,500 square foot social lounge and recreation area.
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|
·
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San Pedro Lofts, located in San Pedro, California, is comprised of 89 units in two distinct residential buildings with 3,545 square feet of ground level retail space. Constructed in 2008, the property’s amenities include a sun deck with barbeque, an outdoor fireplace, a fitness center, secured covered parking with a 1.6+ parking ratio in two subterranean, controlled access parking garages, and an outdoor community courtyard.
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