Franklin Street Properties sells Colorado office asset
Rhea-AI Filing Summary
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.
Positive
- None.
Negative
- None.
Filing Explained
The Greenwood Plaza sale closed July 8; $8,500,000 of proceeds repaid debt, while the balance remains available for stated corporate uses.
This Form 8-K reports a completed asset disposition: on
The sale removes the approximately 196,236-square-foot property from the company’s real estate portfolio, and the disclosed gross purchase price was
Franklin Street Properties used approximately
The filing distinguishes the gross purchase price from the portion used for debt repayment and the balance retained for those stated uses.
Exhibit 99.1 presents unaudited pro forma statements showing the sale and partial borrowing repayment as adjustments rather than as a new post-closing quarterly report.
On the pro forma March 31, 2026 basis, cash, cash equivalents and restricted cash is
The pro forma presentation removes rental revenue and expenses for the three months ended March 31, 2026, while reducing interest expense.
Its weighted-average basic and diluted share count remains
8-K Event Classification
Key Figures
Key Terms
unaudited pro forma condensed consolidated financial statements financial
loss on extinguishment of debt financial
Initial Term Loans financial
Article 11 of Regulation S-X regulatory
Revised Texas Franchise Tax regulatory
FAQ
What property did Franklin Street Properties (FSP) sell in July 2026?
How much did Franklin Street Properties (FSP) receive for the Greenwood Plaza property?
How did Franklin Street Properties (FSP) use the sale proceeds from Greenwood Plaza?
Who bought the Greenwood Plaza property from Franklin Street Properties (FSP)?
How did the Greenwood Plaza sale affect FSP’s pro forma total assets and equity?
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