FRANKLIN STREET PROPERTIES CORP MA

For the period ended Dec 31, 2024. Filed Feb 11, 2025.

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.

FY2024 · Filed Feb 11, 2025

FSP$0.41+5.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Financial Statement Schedules — Schedule II and III

Schedule II

Franklin Street Properties Corp.

Valuation and qualifying accounts:


· · Additions · ·
· · · · · (Decreases) · · · · · ·
· · Balance at · · charged to · · · · · Balance
(in thousands) · · beginning · · costs and · · · · · at end
Classification · · of year · · expenses · · Deductions · · of year

Allowance for doubtful accounts
2022	$533	(38)	(478)	17
2023	17	(9)	—	8
2024	8	(8)	—	—

Allowance for credit losses
2022	$—	4,237	—	4,237
2023	4,237	(4,237)	—	—
2024	—	—	—	—

SCHEDULE III

FRANKLIN STREET PROPERTIES CORP.

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2024


· · · · Initial Cost · · Historical Cost · · · · · · · · · · · · · · · · ·
· · · · · · Costs · · · · · · · · · · · · · · ·
· · · · · · · · · · Capitalized · · · · · Buildings · · · · · · · · Total Costs, · · · · · · · ·
(in thousands) · · · · · · · Buildings · · (Disposals) · · · · · Improvements · · · · · · · · Net of · · Depreciable · · · · Date of
· · Encumbrances · · · · · Improvements · · Subsequent to · · · · · and · · · · · Accumulated · · Accumulated · · Life · · Year · · Acquisition
Description	(1)	Land		and Equipment	Acquisition	Land		Equipment	Total (2)	Depreciation		Depreciation	Years	Built		(3)
	(in thousands)
Commercial Properties:
Park Ten, Houston, TX	—		1,061		21,303		8,150		565		29,949		30,514		15,549		14,965	5	-	39	1999	2002
Addison, Addison, TX	—		4,325		48,040		14,489		4,325		62,529		66,854		32,544		34,310	5	-	39	1999	2002
Greenwood, Englewood, CO	—		3,100		30,201		13,165		3,100		43,366		46,466		21,140		25,326	5	-	39	2000	2005
Eldridge Green, Houston, TX	—		3,900		43,791		12,423		3,900		56,214		60,114		25,615		34,499	5	-	39	1999	2004
Liberty Plaza, Addison, TX	—		4,374		21,146		12,958		4,279		34,199		38,478		16,245		22,233	5	-	39	1985	2006
Park Ten II, Houston, TX	—		1,300		31,712		7,261		1,300		38,973		40,273		18,421		21,852	5	-	39	2006	2006
121 South Eight Street, Minneapolis, MN	—		4,444		15,214		29,762		4,444		44,976		49,420		17,736		31,684	5	-	39	1974	2010
801 Marquette Ave South, Minneapolis, MN	—		4,184		—		28,318		4,184		28,318		32,502		8,087		24,415	5	-	39	1923	2010
Legacy Tennyson Center, Plano, TX	—		3,067		22,064		7,115		3,067		29,179		32,246		10,138		22,108	5	-	39	2008	2011
Westchase I & II, Houston, TX	—		8,491		121,508		26,557		8,491		148,065		156,556		46,948		109,608	5	-	39	2008	2012
1999 Broadway, Denver CO	—		16,334		137,726		44,326		16,334		182,052		198,386		58,083		140,303	5	-	39	1986	2013
1001 17th Street, Denver, CO	—		17,413		165,058		42,904		17,413		207,962		225,375		60,394		164,981	5	-	39	2006	2013
Plaza Seven, Minneapolis, MN	—		6,604		54,240		15,228		6,604		69,468		76,072		18,814		57,258	5	-	39	1987	2016
600 17th Street, Denver, CO	—		20,876		99,941		18,848		20,876		118,789		139,665		27,312		112,353	5	-	39	1982	2016
Monument Circle, Indianapolis, IN			6,416		13,279		—		6,416		13,279		19,695		682		19,013	5	-	39	1992	2023
Balance — Real Estate	—		$105,889		$825,223		$281,504		$105,298		$1,107,318		$1,212,616		$377,708		$834,908

(1)	There are no encumbrances on the above properties.

(2)	The aggregate cost for Federal Income Tax purposes is $1,360,898.

(3)	Original date of acquisition by Sponsored Entity.

The following table summarizes the changes in the Company’s real estate investments and accumulated depreciation:


· · December 31,
(in thousands) · 2024 · 2023 · 2022
Real estate investments, at cost:
Balance, beginning of year	$1,257,173	$1,526,665	$1,615,457
Acquisitions	—	19,695	—
Improvements	20,535	29,194	60,132
Assets held for sale	—	(118,644)	—
Dispositions	(65,092)	(199,737)	(148,924)
Balance, end of year - Real Estate	$1,212,616	$1,257,173	$1,526,665

Accumulated depreciation:
Balance, beginning of year	$366,349	$423,417	$424,487
Depreciation	37,746	45,558	52,208
Assets held for sale	—	(35,399)	—
Dispositions	(26,387)	(67,227)	(53,278)
Balance, end of year - Accumulated Depreciation	$377,708	$366,349	$423,417

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.