Winthrop Realty acquires 917,105 convertible preferreds at discount

By Susanna Moon

Chicago, Jan. 6 - Winthrop Realty Trust said it acquired 917,105 of its series B-1 cumulative convertible redeemable preferred shares with a liquidation value of about $23 million for a price of $17.1 million.

The acquisition price represents a 25.5% discount to the liquidation value.

In the past three months, the company has repurchased a total of 1,941,105 series B-1 shares at a blended discount of about 26.5%.

There are 1,496,000 series B-1 shares outstanding.

Winthrop is a real estate investment trust based in Boston.

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