BOSTON, April 17 /PRNewswire-FirstCall/ -- Winthrop Realty Trust today announced that it has acquired through a joint venture with Sealy & Company Inc. 13 light distribution and service center properties containing an aggregate of 1,155,000 square feet in Nashville, Tennessee. The purchase price for the properties was $87,200,000, $74,000,000 of which was financed through a first mortgage loan. The property is presently 82% occupied. Pursuant to the terms of the joint venture agreement, Sealy oversees the day-to-day operations of the joint venture. Winthrop's initial percentage ownership in the joint venture is 50%.
Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT) headquartered in Boston, Massachusetts. Additional information on Winthrop Realty Trust is available on its Web site at http://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 our annual and quarterly reports filed with the SEC and available for download at our website http://www.winthropreit.com/ or at the SEC website http://www.sec.gov/.
