Welcome to our dedicated page for Franklin St Prop SEC filings (Ticker: FSP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Franklin Street Properties Corp. filings document the regulatory record of an office-focused REIT with common stock registered on NYSE American under FSP. The company's 8-K reports include operating and financial results with supplemental operating data, material definitive agreements, credit-facility terms, capital-structure disclosures and governance updates. These filings describe subjects such as secured indebtedness, delayed-draw borrowing capacity, covenants and related exhibits.
Proxy materials cover annual stockholder meeting procedures, governance matters and voting disclosures. Other current reports document cooperation-agreement matters, board-related governance changes and recurring REIT disclosure topics, including property operations, leasing activity, asset management services and capital needs for commercial office real estate.
Franklin Street Properties Corp. held its 2026 Annual Meeting of Stockholders on May 14, 2026. Shareholders elected five directors—George J. Carter, Georgia Murray, Jennifer Bitterman, John N. Burke and Dennis J. McGillicuddy—to one-year terms expiring at the 2027 annual meeting.
Shareholders also ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 66,582,699 votes for, 15,247,083 against and 3,191,941 abstentions. In a non-binding vote, shareholders approved the Company’s executive compensation, with 38,438,867 votes for, 20,811,106 against, 6,941,875 abstentions and 18,829,875 broker non-votes.
Franklin Street Properties Corp. reported Q1 2026 rental revenue of $26.2M, down slightly from Q1 2025. Net loss narrowed to $9.5M from $21.4M, mainly because last year included a large impairment on a sold property and higher operating costs.
The REIT’s 14-office portfolio totaled about 4.8M square feet and was 66.5% occupied, with 145,000 square feet leased at GAAP rents about 6.4% above prior levels. Segment NOI was $11.7M, and Funds From Operations were $1.2M.
In February 2026, the company closed a new $320M secured term credit facility with an affiliate of TPG Credit, including $275M of Initial Term Loans at a 9.0% interest rate, maturing in 2029. Proceeds refinanced roughly $249M of BMO and BofA term loans and senior notes. Cash and cash equivalents were $23.8M.
The board’s ongoing review of strategic alternatives continued, and additional financial advisors were engaged. In March 2026, the board suspended quarterly cash dividends to redirect capital toward leasing, and the new Credit Agreement restricts dividends above $0.01 per share or the amount needed to maintain REIT status.
Franklin Street Properties Corp. reported first quarter 2026 results and outlined progress on its ongoing strategic review. Rental revenue was $26.2M for the three months ended March 31, 2026, slightly below $27.1M a year earlier. Net loss narrowed to $9.5M, or $0.09 per share, compared with a $21.4M loss, or $0.21 per share, in the prior-year quarter.
Funds From Operations (FFO) were $1.2M, or $0.01 per share, while Adjusted FFO (AFFO) was negative at $(1.6)M, or $(0.02) per share. The owned portfolio totaled 14 properties and 4.81 million square feet, with 68.4% leased as of March 31, 2026, modestly below 68.9% at year-end 2025.
The company highlighted its expanded strategic alternatives review, now advised by both BofA Securities and JLL, and noted refinancing activities that replaced prior term loans and senior notes with $275M of new Initial Term Loans at a 9.00% rate. Management is negotiating a potential sale of the Greenwood Plaza property and emphasized continued leasing, efficiency initiatives, and the previously announced dividend suspension, which is expected to preserve about $4.1M of cash annually.
Franklin Street Properties Corp. is asking stockholders to vote at its 2026 annual meeting, held virtually via live audio webcast on May 14, 2026 at 11:00 a.m. Eastern Time. Holders of 103,690,340 common shares as of March 3, 2026 may participate online.
Stockholders will vote on three items: electing five directors for one-year terms, ratifying Ernst & Young LLP as independent auditor for 2026, and approving an advisory “say‑on‑pay” resolution for executive compensation. The board recommends voting FOR all director nominees and FOR both other proposals.
The proxy also highlights the company’s REIT strategy focused on office properties in U.S. sunbelt and mountain west markets, strong ESG credentials including high ENERGY STAR and LEED penetration, an independent board majority with a Lead Independent Director, and simple, primarily cash-based executive pay aligned with long‑term shareholder value.
Franklin Street Properties Corp. files its annual report describing its office-focused REIT operations and key risks. The company owns 14 office properties totaling 4,807,663 square feet in Dallas, Denver, Houston and Minneapolis, with 67.4% of space occupied and weighted average rent of $30.86 per square foot.
In May 2025, the board began a strategic review of alternatives and this review remains ongoing. On February 26, 2026, the company closed a $320 million secured credit facility with an affiliate of TPG Credit and used borrowings to repay approximately $249 million of existing indebtedness. In March 2026, the board suspended quarterly cash dividends to reduce expenses and redirect capital toward leasing efforts.
The filing highlights ongoing uncertainty from the long-term impact of the COVID-19 pandemic on office demand, tenant rent payments and property values, as well as broader economic and geopolitical risks. Concentration in energy-related tenants and in the Denver, Houston, Dallas and Minneapolis markets, along with lease rollover and tenant credit risk, could pressure occupancy and cash flow. The credit agreement includes financial covenants and a provision that a leadership change involving the Chief Executive Officer and Chairman, if not addressed to lenders’ satisfaction, could trigger an event of default.
Franklin Street Properties Corp. reported a full-year 2025 net loss of $44.96 million on revenue of $107.16 million, down from $120.11 million in 2024. Fourth-quarter revenue was $26.04 million with a net loss of $7.32 million. Funds From Operations for 2025 were $11.01 million, while Adjusted FFO was negative at $(4.31) million, or $(0.04) per share.
The company closed a $320 million secured credit facility with an affiliate of TPG Credit, using borrowings to repay approximately $249 million of existing indebtedness. The facility matures on February 26, 2029 with a potential one-year extension and includes up to $45 million of delayed-draw term loans for leasing and property investments.
Amid continued pressure in the office market, overall leased percentage for owned properties was 68.9% across 4.81 million square feet as of December 31, 2025. The Board decided to suspend the quarterly dividend, which is expected to preserve about $4.1 million in cash annually, and will reassess payments each quarter while the strategic alternatives review continues.
Franklin Street Properties Corp. entered into a new secured credit facility providing up to $320 million in term loans, including $275 million of initial term loans and up to $45 million of delayed draw term loans. The loans mature on February 26, 2029, with a potential one-year extension at the company’s option.
The initial interest rate is 9.0% per year, with a 6.0% original issue discount on both the initial and any delayed draw term loans, and the rate increases to 13.0% if the extension is used. The company used the initial proceeds to refinance about $249 million of existing indebtedness and pay related fees and expenses, and must make mandatory prepayments from certain property sale proceeds. The facility is secured by first-priority liens on substantially all company and subsidiary assets and includes financial covenants on tangible net worth and minimum liquidity.
The filing also notes that director Milton P. Wilkins, Jr. will not stand for re-election at the 2026 annual meeting, although he will serve until his current term ends and the decision is described as entirely voluntary and not due to any disagreement.
Bank of America Corporation has filed an amended Schedule 13G reporting a passive ownership stake in Franklin Street Properties Corp. common stock. As of the event date, it beneficially owned 5,192,758 shares, representing 5.0% of the outstanding common stock.
Bank of America reports no sole voting or dispositive power over the shares, with all authority held on a shared basis. The filing states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Franklin Street Properties.
Bank of America Corporation filed a Schedule 13G reporting beneficial ownership of 5,634,309 shares of Franklin Street Properties (FSP) common stock, representing 5.4% of the class as of the event date 09/30/2025.
The filing shows 0 shares with sole voting or dispositive power and 5,634,309 shares with shared voting and shared dispositive power. Bank of America certified the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The schedule is filed on behalf of Bank of America and wholly owned subsidiaries including BofA Securities, Inc., Bank of America, N.A., and Merrill Lynch International.