Key Developments: Winthrop Realty Trust (FUR.N)
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Latest Key Developments (Source: Significant Developments)
Winthrop Realty Trust Declares Dividend
Winthrop Realty Trust announced that the Board has declared regular quarterly cash dividend for the third quarter of 2013 of $0.1625 per common share payable on October 15, 2013 to common shareholders of record on September 30, 2013. Full Article
Winthrop Realty Trust Announces Sale of Deer Valley, Arizona Property
Winthrop Realty Trust announced that it has sold its medical office building property located in Deer Valley, Arizona for a gross sales price of $20,500,000 and net proceeds, after costs and closing adjustments, of approximately $20,000,000. The property was originally acquired through a foreclosure by Winthrop on a loan receivable acquired in June 2010 for an original purchase price of approximately $10,600,000. Full Article
Winthrop Realty Trust Declares Dividend
Winthrop Realty Trust announced that the Company's Board of Trustees is declaring a dividend for the second quarter of 2013 of $0.1625 per Common Share payable on July 15, 2013 to common shareholders of record on June 28, 2013. Full Article
Winthrop Realty Trust Declares Dividend
Winthrop Realty Trust announced that the Board of Trustees have declared a dividend for the first quarter of 2013 of $0.1625 per common share payable on April 15, 2013 to common shareholders of record on March 28, 2013. The Company also declared a regular quarterly cash dividend of $0.578125 per Series D preferred share which is payable on April 1, 2013 to the holders of Series D preferred shares of record on March 18, 2013. Full Article
Winthrop Realty Trust Declares Fourth Quarter 2012 Dividend; Announces Share Repurchase Plan
Winthrop Realty Trust announced that it has declared a dividend for the fourth quarter of 2012 of $0.1625 per common share payable on January 15, 2013 to common shareholders of record on December 31, 2012. The Company's Board of Trustees is also declaring a regular cash dividend for the fourth quarter of 2012 of $0.578125 per Series D preferred share which is payable on December 31, 2012 to the holders of Series D preferred shares of record on December 16, 2012. The Company also announced that the board of trustees has approved a share repurchase plan pursuant to which the Company will be permitted to repurchase up to 1,500,000 of its outstanding common shares at prices to be determined by the Board of Trustees. As of October 31, 2012, the Company had 33,088,751 common shares outstanding. Full Article
Winthrop Realty Trust Sells 52% of Its Interest in Cedar Realty Trust Inc
Winthrop Realty Trust announced that it sold 3,250,000 of its 6,250,716 common shares in Cedar Realty Trust Inc for net proceeds of approximately $17.1 million. Full Article
Winthrop Realty Trust Announces Exercise Of Over-Allotment Option For Its Senior Notes
Winthrop Realty Trust announced that the underwriters have elected to exercise in full the over-allotment option for its underwritten public offering of 7.75% Senior Notes due 2022 (the Notes). The closing of the issuance of the additional $11.25 million of Notes is expected to occur on August 24, 2012, subject to certain closing conditions. Barclays Capital Inc., Stifel, Nicolaus & Company, Incorporated and Jefferies & Company, Inc. acted as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC acted as lead manager for the offering and KeyBanc Capital Markets and MLV & Co. LLC acted as co-managers for the offering. Full Article
Winthrop Realty Trust Announces Closing Of $75.0 Million Of Senior Notes
Winthrop Realty Trust announced the closing of its previously announced underwritten public offering of $75.0 million of its 7.75% Senior Notes due 2022 (the Notes) at an issue price of 100% of par value. Winthrop received net proceeds, after deducting the underwriting discounts and commissions and estimated offering expenses, of approximately $72.25 million, which were then loaned by Winthrop to its wholly-owned operating partnership. The underwriters have an option to purchase an additional $11.25 million principal amount of Notes at any time on or prior to September 7, 2012. The loan from Winthrop to its operating partnership is evidenced by a $75.0 million promissory note which has the same interest payment terms and maturity date as the Notes. The operating partnership will use the net proceeds to fund future acquisitions and/or for general working capital purposes, including funding capital expenditures, tenant improvements and leasing commissions. The Notes will be secured by a first priority security interest in the promissory note. Barclays Capital Inc., Stifel, Nicolaus & Company, Incorporated and Jefferies & Company, Inc. acted as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC acted as lead manager for the offering and KeyBanc Capital Markets and MLV & Co. LLC acted as co-managers for the offering. Full Article
Winthrop Realty Trust Announces Pricing Of $75.0 Million Of Senior Notes
Winthrop Realty Trust announced the pricing of $75.0 million principal amount of 7.75% Senior Notes due 2022 (the Notes) at an issue price of 100% of par value. The offering is expected to close on August 15, 2012, subject to certain closing conditions. Winthrop has applied to list the Notes on the New York Stock Exchange under the symbol WRT and, if the application is approved, expects trading of the Notes on the New York Stock Exchange to begin within 30 days after the Notes are first issued. Interest on the Notes will be payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, commencing on November 15, 2012, at a rate of 7.75% per year and the Notes will mature on August 15, 2022, unless earlier repurchased or redeemed. In connection with this offering, the underwriters will be granted a 30-day option to purchase an additional $11.25 million principal amount of Notes to cover over-allotments. Barclays Capital Inc., Stifel, Nicolaus & Company, Incorporated and Jefferies & Company, Inc. are acting as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC is acting as lead manager for the offering and KeyBanc Capital Markets and MLV & Co. LLC are acting as co-managers for the offering. Full Article
Winthrop Realty Trust Announces Public Offering of Senior Notes
Winthrop Realty Trust announced that it has commenced a public offering of its Senior Notes due 2022 (the Notes). The underwriters will be granted a 30-day option to purchase an additional amount of Notes to cover over-allotments, if any. Winthrop will loan the net proceeds of this offering to its operating partnership, which will use the net proceeds to fund future acquisitions and/or for general working capital purposes, including funding capital expenditures, tenant improvements and leasing commissions. Full Article

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