SOURCE: Franklin Street Properties Corp.

December 22, 2006 09:42 ET

Franklin Street Properties Corp. Announces Acquisition of Broomfield, Colorado Property

WAKEFIELD, MA -- (MARKET WIRE) -- December 22, 2006 -- Franklin Street Properties Corp. (the "Company" or "FSP") (AMEX: FSP), a real estate investment trust, announced today its purchase on December 21, 2006 of a ten-story Class "A" suburban office tower located at 390 Interlocken Crescent Boulevard, Broomfield, Colorado (the "Property"). The Property contains approximately 241,000 rentable square feet. Broomfield is part of the greater metropolitan Denver area. In May 2006, the Company acquired its sister building, 380 Interlocken Crescent Boulevard, another ten-story suburban Class "A" office tower which contains approximately 240,000 rentable square feet. With the acquisition of the Property, the Company now controls approximately 480,000 rentable square feet of Class "A" office space in the master-planned Interlocken Business Park and two of the most visible towers in Broomfield from the Denver-Boulder Turnpike (U.S. 36). The Company did not incur any mortgage indebtedness to purchase the property; instead, the purchase was funded entirely from the proceeds of property dispositions that occurred recently. FSP has no permanent mortgage indebtedness on any of the properties in its portfolio.

About Franklin Street Properties Corp.

Franklin Street Properties Corp. is a real estate investment trust based in Wakefield, Massachusetts, focused on achieving current income and long-term growth through investments in commercial properties. FSP operates in two business segments: real estate operations and investment banking/investment services. FSP owns an unleveraged portfolio of real estate. The majority of FSP's property portfolio is suburban office buildings. FSP's subsidiary, FSP Investments LLC (member, NASD and SIPC), is a real estate investment banking firm and a registered broker/dealer. To learn more about FSP please visit our website at www.franklinstreetproperties.com

Contact Information

  • Contact:
    Donna Brownell
    877-686-9496

    Franklin Street Properties Corp.
    401 Edgewater Place
    Suite 200
    Wakefield
    Massachusetts
    01880-6210
    (781) 557-1300
    www.franklinstreetproperties.com