Winthrop Realty Trust Increases Commitment to Its

Winthrop Realty Trust Increases Commitment to Its 701 Seventh Avenue Times Square Venture -- Will Participate in Hotel Ownership BOSTON, July 9, 2013 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) announced today that it has agreed to increase its financial commitment to its venture that owns the property located at 701 Seventh Avenue, New York, New York, in the Times Square submarket of New York City, from up to $68.0 million to up to $120.0 million. The increased commitment reflects Winthrop's election to participate in the ownership of the hotel to be developed at the property and an increase in its preferred equity ownership from 45.85% to 61.1%. In connection with its increased commitment, Winthrop will contribute on July 23, 2013 an initial additional $4.9 million to the venture and has agreed to make a second payment of $4.7 million (assuming no further additional capital contributions) upon refinancing of the existing mortgage and mezzanine debt. Inclusive of the initial additional payment, Winthrop will have contributed $35.6 million to the venture and is entitled to a 12% preferred return on its contributed capital of which 8% is paid currently, and 4% is accrued.