FRANKLIN STREET PROPERTIES CORP /MA/

For the period ended Dec 31, 2025. Filed Mar 9, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 9, 2026

FSP$0.39-10.0%Stored close · as of Nov 9, 2026

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Contents

Consolidated Financial Statements: Consolidated Balance Sheets as of December 31, 2025 and

Consolidated Balance Sheets


· · December 31,
(in thousands) · · 2025 · · 2024

Assets:
Real estate assets:
Land (amounts related to variable interest entities ("VIEs") of $6,416 at December 31, 2024)	$98,883	$105,298
Buildings and improvements (amounts related to VIEs of $13,279 at December 31, 2024)	1,091,728	1,096,265
Fixtures and equipment	11,572	11,053
	1,202,183	1,212,616
Less accumulated depreciation (amounts related to VIEs of $682 at December 31, 2024)	408,461	377,708
Real estate assets, net (amounts related to VIEs of $19,013 at December 31, 2024)	793,722	834,908

Acquired real estate leases, less accumulated amortization of $14,648 and $13,613, respectively (amounts related to VIEs of $67 less accumulated amortization of $35 at December 31, 2024)	2,490	4,205
Cash, cash equivalents and restricted cash (amounts related to VIEs of $1,314 at December 31, 2024)	30,571	42,683
Tenant rent receivables	471	1,283
Straight-line rent receivable	38,744	37,727
Prepaid expenses and other assets	4,080	3,114
Office computers and furniture, net of accumulated depreciation of $1,047 and $1,073, respectively	136	70
Deferred leasing commissions, net of accumulated amortization of $14,571 and $14,195, respectively	22,670	22,941

Total assets	$892,884	$946,931

Consolidated Balance Sheets


· · December 31,
(in thousands, except share and par value amounts) · · 2025 · · 2024

Liabilities and Stockholders’ Equity:
Liabilities:
Term loans payable, less unamortized financing costs of $441 and $2,220, respectively	$125,555	$124,491
Series A & Series B Senior Notes, less unamortized financing costs of $236 and $1,191, respectively	122,686	122,430
Accounts payable and accrued expenses (amounts related to VIEs of $534 at December 31, 2024)	28,724	34,067
Accrued compensation	2,394	3,097
Tenant security deposits	6,198	6,237
Lease liability	316	707
Acquired unfavorable real estate leases, less accumulated amortization of $56 and $89, respectively	34	45

Total liabilities	285,907	291,074

Commitments and contingencies

Stockholders’ Equity:
Preferred stock, $.0001 par value, 20,000,000 shares authorized, none issued or outstanding	—	—
Common stock, $.0001 par value, 180,000,000 shares authorized, 103,690,340 and 103,566,715 shares issued and outstanding, respectively	10	10
Additional paid-in capital	1,335,586	1,335,361
Distributions in excess of accumulated earnings	(728,619)	(679,514)

Total stockholders’ equity	606,977	655,857

Total liabilities and stockholders’ equity	$892,884	$946,931

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.