WAKEFIELD, Mass .– (COMMERCIAL THREAD) – Franklin Street Properties Corp. (the “Company”, “FSP”, “us” or “we”) (NYSE American: FSP), a real estate investment trust (REIT), today announced the completion of the sale of Meadow Point and 4807 Stonecroft in Chantilly, Virginia (together, the “Properties”) for total gross proceeds of $ 40 million.
George J. Carter, President and CEO of FSP, said:
âWe are pleased to announce the finalization of the sale of the properties. We have now completed disposals for total gross proceeds of approximately $ 600 million to date in 2021. As previously stated, we intend to use the proceeds from the disposals for debt reduction, repurchases of our common stock, any special dividends required to meet REIT requirements, and for other general corporate purposes.
This press release, as well as other information about FSP, is available on the Internet at www.fspreit.com. We regularly post information that may be important to investors in the Investor Relations section of our website. We encourage investors to periodically review this section of our website for important information about us and, if they wish to receive news and information automatically as soon as it is posted, to sign up for email alerts.
About Franklin Street Properties Corp.
Franklin Street Properties Corp., based in Wakefield, Mass., Focuses on infill and central business district (CBD) office buildings in the US Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-driven investments for long-term growth and appreciation, as well as current income. FSP is a Maryland corporation and operates in a manner that qualifies as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP, please visit our website at www.fspreit.com.
Statements made in this press release which state the intentions, beliefs, expectations or predictions of the FSP or management for the future may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may also contain forward-looking statements. statements based on current judgments and current knowledge of management, which are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those indicated in these forward-looking statements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements. Investors are cautioned that our forward-looking statements involve risks and uncertainties. See the âRisk Factorsâ set out in Part I, Section 1A of our Annual Report on Form 10-K for the year ended December 31, 2020, as they may be updated from time to time in subsequent filings with of the United States Securities and the Foreign Exchange Commission. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future results, activity levels, performance or achievements.