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<SEC-DOCUMENT>0001171520-08-000638.txt : 20081103
<SEC-HEADER>0001171520-08-000638.hdr.sgml : 20081103
<ACCEPTANCE-DATETIME>20081103161813
ACCESSION NUMBER:		0001171520-08-000638
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081031
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20081103
DATE AS OF CHANGE:		20081103

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN STREET PROPERTIES CORP /MA/
		CENTRAL INDEX KEY:			0001031316
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				042724223
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32470
		FILM NUMBER:		081157716

	BUSINESS ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		STE 200
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
		BUSINESS PHONE:		7815571300

	MAIL ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		STE 200
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRANKLIN STREET PARTNERS LP
		DATE OF NAME CHANGE:	20010301
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eps3170.htm
<DESCRIPTION>FRANKLIN STREET PROPERTIES CORP.
<TEXT>
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    <title>eps3170.htm</title>
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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Washington,
D.C. 20549</font></div>
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      </font></td>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">FORM
8-K</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Date
of Report (Date of earliest event reported):&#160;&#160;October 31,
2008</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">Franklin
      Street Properties Corp.</font></div>
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name of registrant as specified in its charter)</font></div>
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            </td>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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      Edgewater Place, Suite 200,</font></div>
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telephone number, including area code:&#160;&#160;(781) 557-1300</font></div>
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  report.)</font></div>
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the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (<font style="DISPLAY: inline; TEXT-DECORATION: underline">see</font>
General Instruction A.2. below):</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
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      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
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Agreement.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">On
October 31, 2008, FSP Congress Center LLC (the &#8220;Purchaser&#8221;), a wholly-owned
subsidiary of Franklin Street Properties Corp. (the &#8220;Registrant&#8221;), entered into
an agreement for purchase and sale of real property with NNN Congress Center,
LLC; GREIT-Congress Center, LLC; NNN Congress Center 1, LLC; NNN Congress Center
2, LLC; NNN Congress Center 3, LLC; NNN Congress Center 4, LLC; NNN Congress
Center 5, LLC; NNN Congress Center 6, LLC; NNN Congress Center 7, LLC; NNN
Congress Center 8, LLC; NNN Congress Center 10, LLC; NNN Congress Center 11,
LLC; NNN Congress Center 12, LLC; NNN Congress Center 13, LLC; NNN Congress
Center 14, LLC; and NNN Congress Center 15, LLC (collectively, the
&#8220;Seller&#8221;).&#160;&#160;There are no material relationships, other than in respect
of the agreement for purchase and sale of real property, among the Purchaser,
the Seller, the Registrant or any of the Registrant&#8217;s affiliates.&#160;&#160;The
real property is located at 525 West Van Buren Street, in the West Loop of
downtown Chicago, Illinois, and is a 16-story, office tower with approximately
522,000 square feet of rentable space (the &#8220;Property&#8221;).&#160;&#160;Construction
of the Property was completed in 2002.&#160;&#160;The purchase price is
approximately $130 million and the Purchaser will pay a portion of the purchase
price through the assumption of mortgage debt in the original principal amount
of approximately $97.5.&#160; The mortgage debt is evidenced by three secured
promissory notes in the original principal amounts of $80 million, $15 million
and $2.5 million, respectively.&#160;&#160;$95 million of the mortgage debt
bears a fixed interest rate of 5.635% per annum and the remaining $2.5 million
of the mortgage debt bears a fixed interest rate of 7.0%&#160;per
annum.&#160;&#160;The mortgage debt has a maturity date of October 1,
2014.&#160; The purchase is subject to the Purchaser obtaining lender consent
for the assumption of the mortgage debt&#160;and to customary conditions and
termination rights for transactions of this type, including a due diligence
inspection period for the Purchaser.&#160; Assuming that it obtains the
necessary lender consent and assuming that it completes a satisfactory due
diligence inspection of the Property, the Purchaser anticipates that the closing
of the acquisition will take place in either the fourth quarter of 2008 or in
the first quarter of 2009.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
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      STREET PROPERTIES CORP.</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="bottom" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
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      3, 2008</font></div>
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