BOSTON, April 24, 2012 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) announced today that it has acquired for a purchase price of approximately $21.475 million a 320 unit, class A, multifamily property, situated on 27.9 acres in the Germantown/Collierville submarket of Memphis, Tennessee and commonly referred to as Waterford Place. The property which had been foreclosed on by the mortgage lender in May 2012 was constructed in 2011 and is currently 87% occupied.
About Winthrop Realty Trust
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 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 the Company's annual and quarterly reports filed with the SEC and available for download at its website www.winthropreit.com or at the SEC website www.sec.gov.
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