secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN STREET PROPERTIES CORP /MA/ (FSP)
CIK:        0001031316
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0001558370-24-013846
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FSP Q3 2024 GAAP net loss $15.6M; occupancy falls to 70.4%; continues asset sales
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- GAAP net loss of $15.6M ($0.15/sh) and $44.2M ($0.43/sh) for 3 and 9 months ended Sep 30, 2024.
- FFO of $2.7M ($0.03/sh) for Q3 and $10.6M ($0.10/sh) for YTD; AFFO not disclosed.
- Portfolio occupancy 70.4% at Sep 30, down from 74.0% at Dec 31, 2023; leased 364K sf YTD.
- Sold Innsbrook (VA) for $31M and Pershing Park Plaza (GA) for $34M; used proceeds to repay $52.7M debt.
- Total debt reduced to ~$250.3M; dividend maintained at $0.01/sh; guidance still suspended.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031316/000155837024013846/0001558370-24-013846-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031316/000155837024013846/fsp-20241029x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-013846

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