Loan Assets

  • A 50% interest in Lex-Win Concord LLC, a joint venture with Lexington Realty Trust, which owns a 100% common interest in Concord Debt Holdings LLC. Concord owns a portfolio of loan obligations, including interests in first mortgage loans, commercial mortgage-backed securities, mezzanine loans and B notes which are subordinated junior participations in first mortgage loans. Both the Trust and Lexington have contributed and invested $162.5 million to and in Concord.
  • One participating convertible mezzanine loan and an equity investment accounted for as a preferred equity investment in an entity holding a multi-tenanted office building, containing approximately 229,000 square feet located in Chicago, Illinois.
  • Seven participating convertible mezzanine loans and equity investments accounted for as equity investments in entities holding multi-tenanted office buildings, containing approximately 1.1 million square feet located in the Chicago, Illinois metropolitan and suburban area and two participating second mortgage loans on two multi-tenanted office properties containing more than 249,000 square feet located in suburban Chicago, which we refer to as the Marc Realty portfolio.
  • A first mortgage loan and a mezzanine loan with a combined carrying value of approximately $14.8 million secured by the property located at 160 Spear Street in San Francisco, California.
  • A first mortgage loan with a carrying value of approximately $2.5 million secured by Wellington Tower located in New York, New York.
  • A 50% interest with Retail Opportunity Investment Corp. in a first mortgage loan with a carrying value of $15.6, of which $7.8 million represents Winthrop Realty Trust’s portion, secured by a retail center located in Riverside, California.
  • A first mortgage loan with a carrying value of $10.0 million secured by an office building located in New York, New York.
  • A first mortgage loan with a carrying value of $26.6 million secured by a 276 unit Class A apartment complex located in Tempe, Arizona. Restructured the loan into a $15.2 million 4.85% interest senior participation and retained a $11.4 million junior participation.
  • A mezzanine loan with a carrying value of $268,000 which is secured by an industrial/warehouse complex located in Shirley, New York.
  • A corporate loan with a carrying value of $9.75 million secured by a first mortgage on land and other assets.
  • A first mortgage loan with a carrying value of $3.6 million secured by an interest in four Class B office buildings, containing 91,100 square feet of office space in Phoenix, Arizona.
  • Four rake bonds with a carrying value of $5.3 million, secured by a 10-story, 151,000 square foot office building located in Burbank, California.
  • Acquired from Concord Debt Holdings LLC for $17.5 million a $20.0 million senior mezzanine loan collateralized by a pledge of the equity interest in six cross-collateralized, cross-defaulted apartment communities, totaling 2,106 units located in Orlando, Sarasota, Bradenton and Palm Beach Gardens, Florida.
  • Committed to invest up to $15.0 million for a preferred equity interest in 446-High Line, LLC, the entity that owns the leasehold interest in a property located at 450 West 14th Street, New York, New York.
  • Committed to acquire a $117.9 million C note for a purchase price of $96.7 million in a $798.0 million first mortgage encumbering a 4.5 million square foot, 31 property portfolio of office properties situated throughout southern California. The Company's present commitment to the venture is approximately $72.0 million, which may be further reduced in the future through the admission of additional joint venture partners.
  • Originated a $20.0 million mortgage loan collateralized by the Hotel Wales located in Manhattan, New York which loan bears interest at LIBOR plus 4%, with a 3% LIBOR floor (i.e. a minimum 7% rate on the loan), and matures in October 2013, with a one-year extension right.  Subsequently, the Company sold a $14.0 million senior participation which bears interest at LIBOR plus 1.25% with a 3% LIBOR floor, with the Company retaining a $6.0 million junior participation which provides for interest payments equal to the interest payable on the loan less the amount payable on the senior participation for an initial rate of 13.4%.

All information is reported as of the Trust’s most recent filings with the Securities and Exchange Commission (“SEC”). Please refer to the Trust’s SEC Filings for more detailed information concerning all of our assets.