secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN STREET PROPERTIES CORP /MA/ (FSP)
CIK:        0001031316
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001558370-23-018011
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FSP reports Q3 GAAP net loss of $45.7M; sells two properties, plans more sales for debt reduction
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- GAAP net loss of $45.7M ($0.44/diluted share) for Q3; FFO of $7.5M ($0.07/share).
- Leased 571k sq ft in nine months; portfolio 74.8% leased (down from 75.6% at Dec 2022).
- Sold Forest Park (Charlotte) for $9.2M in Q3; post-Q3 sold One Legacy (Plano, TX) for $48M.
- Expects additional property sales with gross proceeds $108M-$153M; proceeds for debt reduction.
- Cash ~$73.5M as of Nov 7; quarterly dividend declared at $0.01/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031316/000155837023018011/0001558370-23-018011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031316/000155837023018011/fsp-20231107x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-018011

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