Winthrop Realty Trust, a Boston REIT, has posted a net loss for the second quarter of $71.2 million, following to a net loss of $24.1 million for the same period a year ago.
The trust said it incurred a net non-cash charge of $81.6 million related to the company’s investment in Lex-Win Concord LLC., bringing the carrying amount of this investment to $0 at the end of June.
The trust recorded an unrealized gain on securities held at June 30 of $12.6 million and sold securities with a cost basis of $7.5 million for sales proceeds of $9.8 million, according to a statement from the trust.
The company reported negative Funds from Operations (FFO) of $68.3 million, compared with negative FFO of $21.1 million for the quarter ended June 30, 2008.
