---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-023495"
form_type: "8-K"
ticker: "FSP"
cik: "0001031316"
company_name: "FRANKLIN STREET PROPERTIES CORP /MA/"
filed_at: "2026-03-04T23:59:59+00:00"
generated_at: "2026-05-15T21:24:18.282887+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FSP closes $320M secured credit facility, refinances $249M debt, extends maturity to 2029

## Summary
- Initial draw of $258.5M (net of $16.5M OID) refinances $248.9M of existing debt under BMO, BofA, and note purchase agreements.
- Facility includes $275M initial term loans + up to $45M delayed draw for tenant improvements; interest at 9.0% per annum.
- Maturity Feb 26, 2029, with potential one-year extension (13% rate, extension fees). Exit fee of 4.0%.
- Director Milton P. Wilkins Jr. will not stand for re-election at 2026 annual meeting; no disagreement.
- Company continues review of strategic alternatives; CEO says refinancing best option to avoid forced decisions.

## SEC filing metadata
- accession: 0001104659-26-023495
- form_type: 8-K
- ticker: FSP
- cik: 0001031316
- company_name: FRANKLIN STREET PROPERTIES CORP /MA/
- filed_at: 2026-03-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031316/000110465926023495/0001104659-26-023495-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031316/000110465926023495/tm267793d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-023495
- JSON: https://secwatch.observer/filing/0001104659-26-023495.json
- Plain text: https://secwatch.observer/filing/0001104659-26-023495.txt

## Source-grounded claims
- claim_id: 70a5c1507b16c0e191c588bfbcee698c3b19e723
  claim: FRANKLIN STREET PROPERTIES CORP /MA/ incurred credit facility of up to $320,000,000 aggregate principal commitments, consisting of $275,000,000 initial term loans and up to $45,000,000 with Silver Oak Capital LLC (affiliate of TPG Credit) at 9.0% per annum (increasing to 13.0% if extension option exercised); original iss maturing February 26, 2029, with potential extension of up to one year.
  evidence_excerpt: The New Credit Agreement provides for a secured credit facility (the “Credit Facility”) for aggregate principal commitments of up to $320,000,000, consisting of (i) initial term loans in an aggregate principal amount of $275,000,000 (the “Initial Term Loans”), and (ii) delayed draw term loans available upon the approval of the Lenders after the Closing Date in an aggregate principal amount of up to $45,000,000 (the “Delayed Draw Term Loans” and together with the Initial Term Loans, the “Term Loans”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031316/000110465926023495/0001104659-26-023495-index.htm
- claim_id: 492877b4293cf333734ecf646f63faed745fb308
  claim: FRANKLIN STREET PROPERTIES CORP /MA/ terminated Second Amended and Restated Credit Agreement (effective 2026-02-26).
  evidence_excerpt: On February 26, 2026, in connection with the entry into the New Credit Agreement described above, the Company terminated and prepaid all outstanding indebtedness under (i) the Second Amended and Restated Credit Agreement, dated as of September 27, 2018 (as amended by the First A
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031316/000110465926023495/0001104659-26-023495-index.htm
- claim_id: c79fc21b1c8233ec30cf6d35591ec80d7fdec47f
  claim: FRANKLIN STREET PROPERTIES CORP /MA/ entered into New Credit Agreement with Alter Domus (US) LLC, as administrative agent, and Silver Oak Capital LLC, an affiliate of TPG Credit (collectively, the Lenders) valued at $320,000,000 (effective 2026-02-26).
  evidence_excerpt: On February 26, 2026 (the “Closing Date”), Franklin Street Properties Corp. (the “Company”) entered into a Credit Agreement (the “New Credit Agreement”) with Alter Domus (US) LLC, as administrative agent (the “Agent”), and Silver Oak Capital LLC, an affiliate of TPG Credit (collectively, the lenders from time to time party thereto, the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031316/000110465926023495/0001104659-26-023495-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.