FRANKLIN STREET PROPERTIES CORP /MA/ (FSP): M&A transaction — Franklin Street Properties sells Plano office building for $48M, expects ~$10.6M gain in Q4 2023

FRANKLIN STREET PROPERTIES CORP /MA/

Gross purchase price $48M; proceeds primarily for debt repayment.
Expected gain of approx. $10.57M in Q4 2023.
Property located at 7500 Dallas Parkway, Plano, TX; buyer is Land Legacy LP and Manas Legacy LP.
No material relationships between seller and buyer or their affiliates.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FRANKLIN STREET PROPERTIES CORP /MA/ completed a disposition involving Land Legacy LP and Manas Legacy LP (as successors-in-interest to LLL Four Forest, LLC) for $48,000,000 (closed 2023-10-26).

Action: disposition
Counterparty: Land Legacy LP and Manas Legacy LP (as successors-in-interest to LLL Four Forest, LLC)
Consideration: $48,000,000
Closing: 2023-10-26

Exact text from the filing

relationships, other than in respect of the Agreement, among the Seller and the Buyer, or any of their respective affiliates. The gross purchase price for the Property was $48,000,000. The Registrant expects to record a gain of approximately $10,570,000 in the fourth quarter of 2023 in connection with the sale of the Property. The Registrant intends to use

View on SEC.gov

5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

FRANKLIN STREET PROPERTIES CORP /MA/ filing history →

Source: SEC EDGAR

accession 0001558370-23-017249

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.