Winthrop Realty Trust has sold in an underwritten public offering 2.8 million shares of its 9.25 percent Series D Cumulative Redeemable Preferred Shares of Beneficial Interest at a price of $25.0385 per share including accrued dividends.

The first dividend payment on the Series D Preferred Shares sold in the offering will be for a full quarter and payable on June 29, 2012. In connection with the offering, Winthrop granted the underwriters an option for 30 days to purchase up to an additional 420,000 Series D preferred shares to cover over-allotments, if any. The offering is expected to close on March 23.

Winthrop estimates that the net proceeds from the offering, after the underwriting discounts and commissions and estimated offering expenses payable by Winthrop, will be approximately $67.7 million, or approximately $77.9 million if the underwriters’ overallotment option is exercised in full. Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT) headquartered in Boston.