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FSP > SEC Filings for FSP > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for FRANKLIN STREET PROPERTIES CORP /MA/

Form 8-K for FRANKLIN STREET PROPERTIES CORP /MA/


1-Nov-2012

Completion of Acquisition or Disposition of Assets, Financia


Item 2.01 Completion of Acquisition or Disposition of Assets.

On November 1, 2012, FSP Westchase LLC (the "Buyer"), a wholly-owned subsidiary of Franklin Street Properties Corp. (the "Company"), completed the acquisition of an office property in Houston, Texas pursuant to an agreement to purchase real property (as amended, the "Agreement") from Granite Westchase Partners, Ltd. (the "Seller"). There were no material relationships, other than in respect of the Agreement, among the Buyer and the Seller, the Company or any of the Company's affiliates. The office property is located at 10370 and 10350 Richmond Avenue, Houston, Texas and consists of two, 14-story, multi-tenant office buildings containing an aggregate of approximately 629,022 rentable square feet of space and a parking garage located on approximately 6.5 acres of land (the "Property"). The purchase price of the Property was $154,750,000 and was paid in cash by the Buyer to the Seller at the closing on November 1, 2012. Neither the Buyer nor the Company incurred any mortgage indebtedness to purchase the Property.

The foregoing description of the Agreement is qualified in its entirety by reference to the Agreement, which was attached as Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 30, 2012 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

The Company will file the required financial statements under cover of Form 8-K/A no later than 71 calendar days after the date that this Current Report was required to be filed.

(b) Pro Forma Financial Information.

The Company will file the required pro forma financial information under cover of Form 8-K/A no later than 71 calendar days after the date that this Current Report was required to be filed.

(d) Exhibits.

See Exhibit Index attached hereto.

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