WAKEFIELD, MA -- (MARKET WIRE) -- 12/22/06 --
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:
Donna Brownell
877-686-9496
Franklin Street Properties Corp.
401 Edgewater Place
Suite 200
Wakefield
Massachusetts
01880-6210
(781) 557-1300
www.franklinstreetproperties.com