secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN STREET PROPERTIES CORP /MA/ (FSP)
CIK:        0001031316
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0001558370-25-005857
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FSP reports Q1 GAAP net loss of $21.4M; FFO $2.7M; occupancy slips to 69.2%
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- GAAP net loss $21.4M ($0.21/share); FFO $2.7M ($0.03/share) for Q1 2025.
- Directly-owned portfolio 69.2% leased (down from 70.3% Q4 2024); leased 60K sq ft in renewals.
- Total debt $250M, down 75% from $1.0B since Dec 2020; marketing ~1M sq ft for disposition.
- Quarterly dividend maintained at $0.01/share; net income and disposition guidance suspended.
- Weighted avg GAAP rent $29.64/sq ft (+3.4% YoY); average lease term 5.2 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031316/000155837025005857/0001558370-25-005857-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031316/000155837025005857/fsp-20250429x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-005857

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