FRANKLIN STREET PROPERTIES CORP /MA/
For the period ended Apr 28, 2026. Filed Apr 28, 2026.
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Apr 28, 2026 · Filed Apr 28, 2026
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Contents
EX-99.2 · Net Asset Value Components
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| Net Asset Value Components |
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| (in thousands except per share data) | | | | | | | | | | | | | | | |
| · · As of · · · · · · · · · · · · | |||||||||||||||
| · · 31-Mar-26 · · Assets: · · · · · · Other information: · · · | |||||||||||||||
| Total Market Capitalization Values | | | | | | Straight-line rent receivable | | $38,670 | | | Leased SF to be FFO producing | | | | |
| Shares outstanding | | | 103,690.3 | | | Assets held for sale | | | — | | | during 2026-2028 (in 000's) | | | 80 |
| Closing price | | $0.66 | | | Cash, cash equivalents and restricted cash | | | 23,753 | | | | | | | |
| Market capitalization | | $68,436 | | | Tenant rent receivables | | | 1,345 | | | Straight-line rental revenue current quarter | | $(221) | ||
| Debt | | | 275,000 | | | Prepaid expenses | | | 3,330 | | | | | | |
| Total Market Capitalization | | $343,436 | | | Office computers and furniture | | | 124 | | | | | | | |
| | | | | | | Other assets: | | | | | | | | | |
| | | | | | | Deferred financing costs and OID, net | | | 23,473 | | | | | | |
| | | 3 Months | | | Other assets - Right-to-Use Asset | | | 992 | | | | | | | |
| | | Ended | | | | | $91,687 | | | | | | | ||
| NOI Components | | 31-Mar-26 | | | | | | | | | | | | | |
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| Same Store NOI (1) | | $11,461 | | | | | | | | | | | | | |
| Acquisitions (1) (2) | | | — | | | Liabilities: | | | | | | | | | |
| Property NOI (1) | | | 11,461 | | | Debt (excluding contra for unamortized financing costs and OID) | | $275,000 | | | Footnotes to the components | | | | |
| Full quarter adjustment (3) | | | — | | | Accounts payable & accrued expenses | | | 26,625 | | | (1) See pages 11 & 30 for definitions and reconciliations. | |||
| Stabilized portfolio | | $11,461 | | | Tenant security deposits | | | 6,186 | | | | ||||
| | | | | | | Other liabilities: lease liability & acquired unfavorable lease liability | | | 1,035 | | | (2) Includes NOI from acquisitions not in Same Store. | |||
| | | | | | | | | $308,846 | | | | ||||
| Financial Statement Reconciliation: | | | | | | | | | | | | (3) Adjustment to reflect property NOI for a full quarter in the quarter acquired, if necessary. | |||
| Rental Revenue | | $26,225 | | | | | | | | | | ||||
| Rental operating expenses | | | (10,290) | | | | | | | | | (4) HB3 Tax in Texas is classified as an income tax, though we treat it as a real estate tax in Property NOI. | |||
| Real estate taxes and insurance | | | (4,243) | | | | | | | | | | |||
| NOI from dispositions & acquisition properties | | | — | | | | | | | | | (5) Management & other fees are eliminated in consolidation but included in Property NOI. | |||
| Taxes (4) | | | (54) | | | | | | | | | | |||
| Management & other fees (5) | | | (177) | | | | | | | | | | |||
| Property NOI (1) | | $11,461 | | | | | | | | | | | | | |
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| Appendix: Non-GAAP Financial Measure Definitions |
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