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Bank of America Corporation reported beneficial ownership of 5,433,645 shares of Franklin Street Properties Corp. common stock on a Schedule 13G. This represents 5.2% of the class, based on 104,011,708 shares outstanding as of June 30, 2026.
Bank of America has shared voting and dispositive power over all 5,433,645 shares and no sole voting or dispositive power. The position is held through wholly owned subsidiaries, including BofA Securities, Inc., Bank of America N.A., and Merrill Lynch International.
BlackRock, Inc. filed Amendment No. 1 to a Schedule 13G reporting its beneficial ownership of common stock of Franklin Street Properties Corp. As of June 30, 2026, BlackRock reports beneficial ownership of 1,388,379 shares of common stock, representing 1.3% of the class.
BlackRock reports sole voting and dispositive power over all 1,388,379 shares and no shared voting or dispositive power. The filing notes that various persons have rights to dividends or sale proceeds of these shares, but no single person has more than five percent of the issuer’s outstanding common shares.
Franklin Street Properties Corp., an office-focused REIT, reported rental revenues of $26.4 million for the quarter and $52.6 million for the six months ended June 30, 2026. Net loss was $16.6 million for the quarter and $26.1 million year-to-date.
Results reflect a $7.7 million impairment on the Greenwood Plaza property, which sold on July 8, 2026 for $19.4 million, with about $8.5 million of net proceeds used to repay Initial Term Loans. The portfolio of 14 owned properties (about 4.8 million square feet in Dallas, Denver, Houston and Minneapolis) was 67.4% leased, down from 68.9% at year-end, with roughly 170,000 square feet leased in the first half at average GAAP base rents of $34.34 per square foot.
On February 26, 2026 the company closed a secured credit facility of up to $320 million, including $275 million of Initial Term Loans and $45 million of Delayed Draw Term Loans, bearing initial interest of 9.0% and maturing February 26, 2029. Proceeds refinanced approximately $249 million of prior term loans and senior notes. Cash and equivalents were $22.5 million, and the company remained in compliance with financial covenants. Funds From Operations were $1.6 million for the quarter and $2.7 million year-to-date. The board continues a strategic alternatives review and, in March 2026, suspended regular quarterly dividends after paying $0.01 per share in the first quarter.
Franklin Street Properties Corp., a U.S. office-focused REIT, reported second-quarter 2026 rental revenue of $26.355 million and a net loss of $16.605 million, or $(0.16) per share. For the first six months of 2026, the net loss was $26.132 million, or $(0.25) per share.
Non-GAAP performance metrics showed Funds From Operations of $1.566 million and Adjusted FFO of $1.393 million in the quarter, with year‑to‑date AFFO of $(0.209) million. As of June 30, the company owned 14 office properties totaling 4.8 million square feet, 67.4% leased, and carried $275 million of debt at a 9.00% rate, equal to a debt-to-total-market-capitalization ratio of 83.6% and net debt-to-adjusted EBITDA of 6.6x.
Management highlighted an expanded strategic review, with BofA Securities and JLL Real Estate Investment Banking as co‑financial advisors, and a recent refinancing intended to increase flexibility. The board has suspended the quarterly dividend, which is estimated to preserve about $4.1 million of cash annually, and will reassess this policy quarterly. Subsequent to quarter‑end, FSP sold its Greenwood Plaza property for approximately $19.4 million, using about $8.5 million of net proceeds to repay debt, while continuing to focus on occupancy, lease duration, expense control and disciplined capital deployment.
Franklin Street Properties Corp. completed the sale of its Greenwood Plaza office property in Englewood, Colorado on July 8, 2026. A wholly owned subsidiary sold two office buildings totaling approximately 196,236 square feet at 6550 and 6560 Greenwood Plaza Boulevard to University of Colorado Health for a gross purchase price of $19,356,000, under a purchase and sale agreement originally dated May 26, 2026 and amended June 30, 2026.
The company applied approximately $8,500,000 of the proceeds to repay outstanding debt, including interest and fees, with the remaining cash retained for tenant improvements, leasing commissions, building improvements and other general corporate uses. Unaudited pro forma condensed consolidated financial statements were prepared under Article 11 of Regulation S-X to illustrate the effect of the disposition and related partial debt repayment, including changes to revenues, expenses, interest expense and accumulated earnings based on historical 2025 results and the quarter ended March 31, 2026.
Bitterman Jennifer reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties director Jennifer Bitterman received a stock grant of 80,342 shares of Common Stock as compensation. The award was issued under the Franklin Street Properties Corp. 2002 Stock Incentive Plan and was valued at $45,000, based on a $0.5601 closing share price on the grant date. Following this grant, she directly owns 80,342 shares. This is a compensation-related grant, not an open-market purchase.
Murray Georgia reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties director Georgia Murray received a stock grant valued at $45,000. She was awarded 80,342 shares of common stock at a reference price of $0.5601 per share under the company’s 2002 Stock Incentive Plan. After this grant, she directly owns 235,983 common shares.
MCGILLICUDDY DENNIS J reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties Corp. director Dennis J. McGillicuddy received an award of 80,342 shares of common stock under the company’s 2002 Stock Incentive Plan. The grant value is $45,000, calculated using a grant-date closing price of $0.5601 per share.
Following this award, McGillicuddy holds 194,858 shares directly. The filing also lists several indirect holdings through a limited partnership, his spouse, and various trusts, with some positions reported while disclaiming beneficial ownership or voting power.
Burke John N reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties director John N. Burke received a stock award of 80,342 common shares. The shares were granted under the Franklin Street Properties Corp. 2002 Stock Incentive Plan and represent $45,000 of value based on a $0.5601 closing share price on the grant date.
Following the award, Burke directly holds 80,344 common shares. He also has indirect holdings of 27,087.3100 shares through a 401(k) account and 120,235.9130 shares through a revocable living trust where he has full investment authority and is sole beneficiary.
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.