FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) Company Report

Franklin Street Properties Corp. (FSP) announced an additional update on its ongoing review of strategic alternatives, which was initiated by its Board of Directors on May 14, 2025, to maximize shareholder value.
The review includes a range of potential strategic alternatives, such as a sale of the Company, a sale of assets, and a refinancing of existing indebtedness.
FSP is currently engaged in active negotiations with a potential lender to refinance all of its existing indebtedness prior to its maturity date, with BofA Securities acting as the financial advisor.
The company stated that no assurances can be given regarding the outcome or timetable for the proposed refinancing transaction or the broader strategic review process.

1 day ago

Franklin Street Properties Corp. Announces Third Quarter 2025 Results

FSP

Earnings

Dividends

M&A

Franklin Street Properties Corp. reported a GAAP net loss of $8.3 million, or $0.08 per basic and diluted share, for the three months ended September 30, 2025. For the same period, Funds From Operations (FFO) was $2.3 million, or $0.02 per basic and diluted share.
As of September 30, 2025, the company's directly-owned real estate portfolio was approximately 68.9% leased, a decrease from 70.3% leased as of December 31, 2024. During the nine months ended September 30, 2025, FSP leased approximately 274,000 square feet of space.
The Board of Directors is continuing its strategic review process with financial advisor BofA Securities to explore ways to maximize shareholder value, including potential sale of the company or assets.
A quarterly cash dividend of $0.01 per share for the three months ended September 30, 2025, was declared on October 3, 2025, and is payable on November 6, 2025.

Oct 28, 2025, 8:26 PM

Franklin Street Properties Corp. Announces Third Quarter 2025 Results

FSP

Earnings

Guidance Update

M&A

Franklin Street Properties Corp. reported a GAAP net loss of $8.3 million (or $0.08 per basic and diluted share) and Funds From Operations (FFO) of $2.3 million (or $0.02 per basic and diluted share) for the third quarter ended September 30, 2025.
As of September 30, 2025, the company's directly-owned real estate portfolio was approximately 68.9% leased, a decrease from 70.3% as of December 31, 2024.
The Board of Directors is continuing its strategic review process with BofA Securities to explore ways to maximize shareholder value, considering options such as a sale of the company or assets.
A quarterly cash dividend of $0.01 per share was declared for the third quarter ended September 30, 2025, and the company has suspended its Net Income (Loss), FFO, and property disposition guidance due to economic conditions and uncertainty surrounding property dispositions.

Oct 28, 2025, 8:25 PM

Franklin Street Properties Reports Q4 and Full Year 2024 Results, Continues Debt Reduction Through Dispositions

FSP

Earnings

Franklin Street Properties reported Funds From Operations (FFO) of $0.03 per share for Q4 2024 and $0.13 per share for the full year 2024, with a GAAP net loss of $0.08 per share for Q4 2024 and $0.51 per share for the full year.
In Q4 2024, the company sold Pershing Park Plaza for $34 million, contributing to approximately $100 million in total gross property sales for the full year. Since late 2020, this disposition program has resulted in a 75% reduction in corporate indebtedness.
Approximately $27.4 million of debt was repaid in October 2024, reducing total indebtedness to approximately $250.3 million as of December 31, 2024.
FSP leased approximately 252,000 sq ft in Q4 2024, bringing total leasing for the year to 616,000 sq ft, with leased occupancy at 70.3% at year-end.
Despite a challenging office sales environment in Q4 2024, the company notes emerging signs that 2024 may have been a market bottom, with anecdotal optimism for potential incremental progress in 2025 and beyond.