Tenant-In-Common

Purchase of Existing Interests

Winthrop Realty Trust (NYSE:FUR) will purchase Tenant-In-Common interests from investors who own 1031 exchange property. We understand that investors from time to time may require liquidity in an investment that is otherwise an illiquid asset.

We will provide a quote to investors for the purchase of their Tenant-In-Common holding which they can use for evaluation with their investment advisor.

Unsubscribed Issues

As sponsors or financial backers of 1031 exchange real estate acquisitions, time is critical for the identification of a suitable property and having investors aligned for the purchase.

The time constraints imposed by the IRS code concerning 1031 exchanges, will from time to time result in properties having to be acquired before all prospective investors have been identified, leaving the sponsor or financial backer to cover the potential shortfall in cash. Winthrop will purchase the remaining unsubscribed interests thus allowing the deal to close and not leaving investors without a 1031 exchange option because of lack of funding.

Financing

The time constraints which are ever present when acquiring property for 1031 exchanges does not always lend itself to a traditional lender's time frame. The fact that we are a REIT and constantly evaluating real estate allows us to quickly assess the property and finalize loans quickly. The ability to close in a time sensitive manner is a strength given the time constraints that are associated with Tenant-In-Common transactions.

Mezzanine Financing

For sponsors or financial backers looking to acquire property, Winthrop will be a source of mezzanine lending.

Additional Sources of Funding

An advantage that Winthrop can provide which traditional lends cannot, is that we can easily partner with an investor who is buying real estate. For various reasons, loans are not always the preferred route pursued when acquiring real estate. Winthrop will either provide straight equity for an acquisition or create a joint venture for the acquisition.

For information on selling your Tenant-In-Common interest or other programs listed, please contact:

7 Bulfinch Place
Suite 500
PO Box 9507
Boston, MA 02114-9507
(p)617-570-4613
(f)617-570-4710
www.winthropreit.com