Newkirk Realty Trust Inc. and Winthrop Realty Trust, two Boston-based real estate investment trusts, have announced the formation of a joint venture to acquire and originate loans secured directly or indirectly by real estate assets.Each company has committed to invest up to $50 million in the venture, which will be owned equally by the two companies. The joint venture has also entered into a $300 million repurchase agreement with Column Financial Inc. under which the venture said it expects to leverage up to 75% of its assets. The companies said the venture is also expected to enter into another repo agreement to obtain an additional $200 million in leverage.
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