Boston-based Winthrop Realty Trust has reported third quarter net income of $2.2 million, compared with net income of $5.4 million for the same period a year ago, a 59.3 percent decrease.
Year-to-date, the company has reported a net loss of $15.5 million, compared to net income of $426.9 million in the same period in 2007.
The decrease in earnings for the comparable third quarter periods was due primarily to a $1.9 million decrease in revenues with respect to the company's "preferred equity investments in the Marc Realty portfolio," as 2007 results included equity participating income of $1.5 million relating to the sale of a property, the company said.