Winthrop REIT Makes News and $9 Million 
I don't know why, but I've always been interested in REITs that own other REIT securities. Likewise, Winthrop REIT is interesting because they own approximately 5% of Lexington Realty Trust.
Winthrop REIT is also a scrappy REIT. They were formerly called First Union Real Estate, or was it First Union REIT? Either way their old name explains their symbol, FUR. Today Winthrop announced a gain of just over $9 million on the sale of their securities in America First Apartment Investors.
So what will Winthrop do with this $9 million dollar windfall? The company didn't make any indication in their press release. The $9 million would be a good start at decreasing their $271 million in long term debt.
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Jun.26.2007. 23:17
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