EX-99.1
2
e604521_ex99-1.htm
PRESS RELEASE ISSUED OCTOBER 28, 2008
Unassociated Document
Contact
at Winthrop Realty Trust
Beverly
Bergman
Investor
or Media Inquiries
Phone:
(617) 570-4614; e-mail: bbergman@firstwinthrop.com
FOR IMMEDIATE RELEASE
October
28, 2008
WINTHROP
REALTY TRUST ACQUIRES 3,500,000 COMMON SHARES OF LEXINGTON REALTY
TRUST
BOSTON, MA - October
28/PRNewswire-FirstCall/ - Winthrop Realty Trust (NYSE:FUR) today announced that
it had acquired in a privately negotiated transaction 3,500,000 shares of common
stock in Lexington Realty Trust at a purchase price of $5.60 per
share. In addition, the seller of the shares has provided to Winthrop
non-recourse financing equal to 50% of the purchase price, which financing has a
term of three years, bears interest at a rate of 3-month LIBOR plus 250 basis
points and requires margin calls only at such time as the loan amount equals or
exceeds 60% of the value of the shares. The settlement of the
purchase is expected to occur on or about October 30, 2008.
Michael L. Ashner, the Chairman and
Chief Executive Officer of Winthrop stated "It is our view that Lexington's
shares have been significantly oversold by the market. The three-year
non-recourse financing provided at a favorable rate significantly enhances the
potential returns on this investment. In our view, the opportunity
presented was consistent with our stated philosophy to pursue deep value and
distressed investments. With the current instability in the real
estate equity and debt markets, we anticipate an increase in the frequency of
such opportunistic investments".
____________________
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 Winthrop's Annual Report of Form 10-K/A for the year ended December
31, 2007, as may be updated or supplemented in Winthrop's Form 10-Q filings
which discuss the factors that could adversely affect Winthrop's results
including, without limitation, (1) the receipt of a trade confirmation and
settlement of the trade described above, and (2) the consummation of the
financing described above. Winthrop can provide no assurances that
the trade and financing described above will be consummated on the terms
described above or at all.
Further information relating to Winthrop's financial position, results of
operations, and investor information is also contained in Winthrop's reports
filed with the SEC, which reports are available for download at our website
www.winthropreit.com
or at the SEC website
www.sec.gov
.

EX - 99 . 1 2 e604521 _ ex99 - 1 . htm PRESS RELEASE ISSUED OCTOBER 28 , 2008 Un associated Document Contact at Winthrop Realty Trust Beverly Bergman Investor or Media Inquiries Phone : ( 617 ) 570 - 4614 ; e - mail : bbergman@firstwinthrop.com FOR IMMEDIATE RELEASE October 28 , 2008 WINTHROP REALTY TRUST ACQUIRES 3,500,000 COMMON SHARES OF LEXINGTON REALTY TRUST BOSTON , MA - October 28 / PRNewswire - FirstCall / - Winthrop Realty Trust ( NYSE : FUR ) today announced that it had acquired in a privately negotiated transaction 3,500,000 shares of common stock in Lexington Realty Trust at a purchase price of $ 5.60 per share . In addition , the seller of the shares has provided to Winthrop non - recourse financing equal to 50 % of the purchase price , which financing has a term of three years , bears interest at a rate of 3 - month LIBOR plus 250 basis points and requires margin calls only at such time as the loan amount equals or exceeds 60 % of the value of the shares . The settlement of the purchase is expected to occur on or about October 30 , 2008 . Michael L . Ashner , the Chairman and Chief Executive Officer of Winthrop stated " It is our view that Lexington 's shares have been significantly oversold by the market . The three - year non - recourse financing provided at a favorable rate significantly enhances the potential returns on this investment . In our view , the opportunity presented was consistent with our stated philosophy to pursue deep value and distressed investments . With the current instability in the real estate equity and debt markets , we anticipate an increase in the frequency of such opportunistic investments " . ____________________ 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 Winthrop 's Annual Report of Form 10 - K / A for the year ended December 31 , 2007 , as may be updated or supplemented in Winthrop 's Form 10 - Q filings which discuss the factors that could adversely affect Winthrop 's results including , without limitation , ( 1 ) the receipt of a trade confirmation and settlement of the trade described above , and ( 2 ) the consummation of the financing described above . Winthrop can provide no assurances that the trade and financing described above will be consummated on the terms described above or at all . Further information relating to Winthrop 's financial position , results of operations , and investor information is also contained in Winthrop 's reports filed with the SEC , which reports are available for download at our website www.winthropreit.com or at the SEC website www.sec.gov .