Franklin Street Properties sells two Colorado office buildings for $102.5M; records $24M gain and repays term loan

FRANKLIN STREET PROPERTIES CORP /MA/

Sold 380 & 390 Interlocken Crescent in Broomfield, CO for $102.5M gross.
Expects to record ~$24M gain on sale in Q3 2022.
Used proceeds to prepay $110M Bank of America term loan in full on Sept 6, 2022.
Term loan would have matured Jan 12, 2023.
Pro forma shows reduction in debt and interest expense.

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