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Stock Market & Financial Investment News

News Breaks
July 7, 2014
16:50 EDTFURWinthrop Realty acquires remaining 50% stake in Playa Vista mezzanine loan
Winthrop Realty Trust announced that it has acquired the remaining 50% participation interest not owned by Winthrop in the mezzanine loan indirectly secured by Water's Edge at Playa Vista. As a result of the acquisition, Winthrop now holds the entire mezzanine loan. Winthrop acquired the remaining 50% interest in the mezzanine loan for a purchase price of $14M. Water's Edge is a two building, class A approximately 260,000 square foot office campus with development rights to up to an additional 180,000 square feet. At June 30, the outstanding principal balance, plus paid-in-kind interest, of the mezzanine loan was $26,480,000, which amount bears interest at LIBOR plus 15.75%. In addition, Winthrop is entitled to a participation interest equal to 25% of net equity value or sales proceeds of the property in excess of a threshold amount which is currently approximately $109,250,000.
News For FUR From The Last 14 Days
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December 15, 2014
17:04 EDTFURWinthrop Realty to issue a $2.25 per share dividend
Winthrop Realty Trust announced that its Board of Trustees has declared a cash dividend of $2.25 per common share payable on January 15, 2015 to common shareholders of record on January 5, 2015. The dividend is being paid from the net proceeds of recent sales and repayments of Winthrop's assets.

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