Item 2.01 Completion of Acquisition or Disposition of Assets
On August 11, 2016, Winthrop Realty Liquidating Trust (the “Trust”), the successor to all of the registrant’s assets, sold its One East Erie office property in Chicago, Illinois. After satisfying all closing costs associated with the sale, the Trust received an aggregate of approximately $46.8 million from the sale. The amount received is consistent with the registrant’s most recently reported liquidation value attributable to this asset.
Also on August 11, 2016, the $11.0 million mezzanine loan held by the Trust’s Concord Debt Holdings venture, in which the Trust holds a two-thirds interest, indirectly secured by Waterfront Plaza, Honolulu, Hawaii was satisfied in full. The amount received is consistent with the registrant’s most recently reported liquidation value attributable to this asset.
Item 8.01. Other Events
As a result of the sale of One East Erie and the payoff of the Waterfront mezzanine loan, the Trust’s trustees approved a liquidating distribution of $1.00 per common beneficial interest in the Trust which was paid on August 23, 2016. For tax purposes, no gain or loss was recognized on the property sale or the loan payoff and the liquidating distribution is considered a return of capital.
On August 11, 2016, the Trust issued a press release with respect to the transactions described in Item 2.01 and announcing the distribution described in this Item 8.01. A copy of the Press Release is furnished as Exhibit 99.1 to this Report on Form 8-K.
On August 11, 2015, the Trust filed a Current Report on Form 8-K disclosing the items disclosed in this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
Press Release dated August 11, 2016
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 30th day of September, 2016.