FRANKLIN STREET PROPERTIES CORP /MA/ (FSP): M&A transaction — Franklin Street Properties sells two office properties for $116M total; proceeds for debt repayment

FRANKLIN STREET PROPERTIES CORP /MA/

Closed sale of Blue Lagoon Dr, Miami (213,182 sq ft) for $68M on Dec 6, 2023.
Closed sale of 7500 Dallas Pkwy, Plano, TX for $48M on Oct 26, 2023.
Combined gross proceeds of $116M; primarily for repaying debt.
Pro forma net loss per share improves to ($0.34) for 9M 2023 from historical ($0.50).

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

FRANKLIN STREET PROPERTIES CORP /MA/ completed a disposition involving LEN Blue Lagoon, LLC (as successor-in-interest to Lennar Homes, LLC) for gross purchase price was $68,000,000 (closed 2023-12-06).

Action: disposition
Counterparty: LEN Blue Lagoon, LLC (as successor-in-interest to Lennar Homes, LLC)
Consideration: gross purchase price was $68,000,000
Closing: 2023-12-06

Exact text from the filing

other than in respect of the Agreement and the Lease, among the Seller and the Buyer, or any of their respective affiliates. The gross purchase price for the Property was $68,000,000. The Registrant intends to use the proceeds from the sale of the Property primarily for the repayment of debt. --- EX-99.1 (EX-99.1) --- SELECTED COMBINING CONDENSED

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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 0001558370-23-019623

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