Related Party Transactions and Investments in Non-Consolidated Entities (Tables)

9 Months Ended

Sep. 30, 2015

	Nine Months Ended
	September 30,
(in thousands)	2015		2014
Equity in loss of East Wacker	$	563	$	1,346
Equity in loss of Grand Boulevard	81		145

	$	644	$	1,491

			Maximum		Amount					Interest
(dollars in thousands)		Maturity	Amount		Drawn at		Interest	Draw		Rate at
Sponsored REIT	Location	Date	of Loan		30-Sep-15		Rate (1)	Fee (2)		30-Sep-15

Secured revolving lines of credit
FSP Satellite Place Corp.	Duluth, GA	31-Mar-17	$	5,500	$	5,500	L+4.4%	0.5	%	4.60	%
FSP 1441 Main Street Corp.	Columbia, SC	31-Mar-16	10,800		9,000		L+4.4%	0.5	%	4.60	%
FSP Energy Tower I Corp.	Houston, TX	30-Jun-17	20,000		8,600		L+5.0%	0.5	%	5.20	%

Secured construction loan
FSP 385 Interlocken
Development Corp.	Broomfield, CO	30-Apr-16	42,000		37,541		L+4.4%	n/a		4.60	%

Mortgage loan secured by property
FSP Energy Tower I Corp.	Houston, TX	30-Jun-17	33,000		33,000		6.41%	n/a		6.41	%


			$	111,300	$	93,641

(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.

	September 30,			December 31,
(in thousands)	2015			2014

Balance Sheet Data (unaudited):
Real estate, net	$	421,001		$	451,822
Other assets	101,449			127,259
Total liabilities	(201,472		)	(203,239		)

Shareholders’ equity	$	320,978		$	375,842

	For the Nine Months Ended
	September 30,
(in thousands)	2015			2014

Operating Data (unaudited):
Rental revenues	$	42,889		$	52,904
Other revenues	22			33
Operating and maintenance expenses	(23,695		)	(27,403		)
Depreciation and amortization	(15,029		)	(18,278		)
Interest expense	(7,411		)	(7,306		)

Net loss	$	(3,224	)	$	(50	)