May 16, 2016
Boston-based Winthrop Realty Trust sold its 284-unit Lake Brandt Apartments in Greensboro, North Carolina for $20 million. The disposition was part of its liquidation and winding down strategy. The name of the buyer was not disclosed.
The REIT had acquired the asset at 2403 Lake Brandt Place in 2012 from Bell Partners of North Carolina. Winthrop paid $17.5 million for the property at that time.