---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-017249"
form_type: "8-K"
ticker: "FSP"
cik: "0001031316"
company_name: "FRANKLIN STREET PROPERTIES CORP /MA/"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T01:51:20.276612+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Franklin Street Properties sells Plano office building for $48M, expects ~$10.6M gain in Q4 2023

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-017249
- form_type: 8-K
- ticker: FSP
- cik: 0001031316
- company_name: FRANKLIN STREET PROPERTIES CORP /MA/
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031316/000155837023017249/0001558370-23-017249-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031316/000155837023017249/fsp-20231026x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-017249
- JSON: https://secwatch.observer/filing/0001558370-23-017249.json
- Plain text: https://secwatch.observer/filing/0001558370-23-017249.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031316/000155837023017249/0001558370-23-017249-index.htm

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