secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN STREET PROPERTIES CORP /MA/ (FSP)
CIK:        0001031316
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001558370-23-001283
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FSP posts Q4 GAAP loss $0.03/sh; amends $165M term loan, revolver cut to $150M
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- Q4 GAAP net loss $2.9M ($0.03/sh); FFO $0.10/sh, AFFO loss $0.08/sh.
- 2022 dispositions $130.3M gross proceeds; repaid $137M debt including $110M term loan.
- Feb 10 amendments: $40M term loan repaid, maturity to Oct 2024, SOFR+300bp; revolver to $150M.
- Portfolio 75.6% leased (down from 78.4%); 435k sq ft leased in 2022.
- Board discontinued $50M buyback authorization; suspended net income, FFO, and disposition guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031316/000155837023001283/0001558370-23-001283-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031316/000155837023001283/fsp-20230214x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-001283

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer