Every 8-K that Franklin Street Properties Corp (FSP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow FSP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FSP filings page.
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.
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 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. 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.
Franklin Street Properties Corp. filed a current report to announce its financial results for the three and nine months ended September 30, 2025. The company released these results through a press release dated October 28, 2025, which has been furnished as an exhibit.
The report also makes available supplemental operating and financial data for the third quarter of 2025, attached as a separate exhibit and referenced as being posted on the company’s website. These materials are furnished rather than filed, meaning they are not subject to certain liability provisions and are not automatically incorporated into other securities filings unless specifically referenced.
Franklin Street Properties (FSP) announced a board change. Bruce J. Schanzer resigned as director effective October 9, 2025, with no disagreement cited. Under the company’s cooperation framework with Converium, the Board elected Jennifer Bitterman on October 15, 2025 to fill the vacancy and designated her as “independent” under NYSE American rules.
FSP and Converium also entered a letter agreement to nominate Ms. Bitterman on the company’s slate at the 2026 Annual Meeting, with certain cooperation terms continuing until the earlier of December 31, 2026, 30 days before the 2027 nomination deadline, or if she ceases to serve. Ms. Bitterman joined the Audit and Compensation Committees. Non‑employee directors, including Ms. Bitterman, receive a $30,000 annual cash retainer and an annual common stock grant valued at $45,000.