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Related Party Transactions and Investments in Non-Consolidated Entities (Tables) | 6 Months Ended
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Jun. 30, 2013
Related Party Transactions and Investments in Non-Consolidated Entities |
Schedule of equity in earnings (losses) of investments in non-consolidated REITs |
|  | Six Months Ended |
|  | June 30, |
(in thousands) |  | 2013 |  | 2012 |
Equity in earnings of Phoenix Tower |  | $ | - |  | $ | 25 |
Equity in earnings (loss) of East Wacker |  | (231) |  | 968 |
Equity in loss of Grand Boulevard |  | (152) |  | (108) |
|  | $ | (383) |  | $ | 885 |
Summary of financial information of sponsored REITs |
|  | June 30, |  | December 31, |
(in thousands) |  | 2013 |  | 2012 |
Balance Sheet Data (unaudited): |  |  |  |  |
Real estate, net |  | $ | 698,697 |  | $ | 659,655 |
Other assets |  | 160,698 |  | 156,785 |
Total liabilities |  | (317,583) |  | (316,311) |
Shareholders’ equity |  | $ | 541,812 |  | $ | 500,129 |
|  | For the Six Months Ended |
|  | June 30, |
(in thousands) |  | 2013 |  | 2012 |
Operating Data (unaudited): |  |  |  |  |
Rental revenues |  | $ | 46,691 |  | $ | 55,833 |
Other revenues |  | 36 |  | 70 |
Operating and maintenance expenses |  | (23,604) |  | (28,032) |
Depreciation and amortization |  | (15,751) |  | (17,838) |
Interest expense |  | (6,805) |  | (8,635) |
Net income |  | $ | 567 |  | $ | 1,398 |
Summary of the Sponsored REIT Loans outstanding |
(dollars in thousands) |  |  |  |  |  | Maximum |  | Amount |  |  |  |  |  | Interest |
|  |  |  | Maturity |  | Amount |  | Drawn at |  | Interest |  | Draw |  | Rate at |
Sponsored REIT |  | Location |  | Date |  | of Loan |  | 30-Jun-13 |  | Rate (1) |  | Fee (2) |  | 30-Jun-13 |
Secured revolving lines of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSP Highland Place I Corp. |  | Centennial, CO |  | 31-Dec-13 |  | $ | 5,500 |  | $ | 1,375 |  | L+4.4% |  | 0.5% |  | 4.59% |
FSP Satellite Place Corp. |  | Duluth, GA |  | 31-Mar-14 |  | 5,500 |  | 5,500 |  | L+4.4% |  | 0.5% |  | 4.59% |
FSP 1441 Main Street Corp. |  | Columbia, SC |  | 31-Mar-14 |  | 10,800 |  | 9,000 |  | L+4.4% |  | 0.5% |  | 4.59% |
FSP 505 Waterford Corp. |  | Plymouth, MN |  | 30-Nov-13 |  | 7,000 |  | 2,350 |  | L+4.4% |  | 0.5% |  | 4.59% |
FSP Galleria North Corp. |  | Dallas, TX |  | 30-Jan-15 |  | 15,000 |  | 9,080 |  | L+5.0% |  | 0.5% |  | 5.19% |
Secured construction loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSP 385 Interlocken |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Development Corp. |  | Broomfield, CO |  | 30-Apr-14 |  | 42,000 |  | 37,541 |  | L+4.4% |  | n/a |  | 4.59% |
Mortgage loan secured by property |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FSP Energy Tower I Corp. (3) |  | Houston, TX |  | 5-Jul-14 |  | 33,000 |  | 33,000 |  | 6.41% |  | n/a |  | 6.41% |
|  |  |  |  |  | $ | 118,800 |  | $ | 97,846 |  |  |  |  |  |  |
(1) The interest rate is 30-day LIBOR rate plus the additional rate indicated, otherwise a fixed rate. (2) The draw fee is a percentage of each new advance, and is paid at the time of each new draw. (3) The loan has a secured fixed mortgage amount of $33,000,000. A loan fee of $300,630 was paid at the time of closing and funding of the loan on July 5, 2012. The borrower is required to pay the Company an exit fee in the amount of 0.982% of the principal repayment amount.

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- Definition Tabular disclosure of the mortgage loans receivable on real estate. Information may be provided for each individual mortgage loan or groups of mortgage loans. + References No definition available. + Details
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- Definition Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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