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

12 Months Ended

Dec. 31, 2015


	Year Ended December 31,
(in thousands)	2015		2014		2013

Equity in losses of East Wacker		1,352		1,568		1,021
Equity in losses of Grand Boulevard		99		192		337
	$	1,451	$	1,760	$	1,358


	Year Ended December 31,
(in thousands)	2015		2014		2013

Distributions from East Wacker	$	—	$	—	$	—
Distributions from Grand Boulevard		107		107		107
	$	107	$	107	$	107


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

Balance Sheet Data (unaudited):
Real estate, net	$	418,959	$	451,822
Other assets		101,734		127,259
Total liabilities		(203,628)		(203,239)
Shareholders’ equity	$	317,065	$	375,842


	For the Year Ended
	December 31,
(in thousands)	2015		2014		2013

Operating Data (unaudited):
Rental revenues	$	57,777	$	66,457	$	93,608
Other revenues		34		43		68
Operating and maintenance expenses		(31,693)		(34,318)		(48,718)
Depreciation and amortization		(21,149)		(23,417)		(31,450)
Interest expense		(9,920)		(9,627)		(13,752)
Gain on sale, less applicable income tax		—		—		5,851
Net income (loss)	$	(4,951)	$	(862)	$	5,607


			Maximum		Amount							Interest
(dollars in thousands)		Maturity	Amount		Drawn at		Interest			Draw		Rate at
Sponsored REIT	Location	Date	of Loan		31-Dec-15		Rate (1)			Fee (2)		31-Dec-15

Secured revolving lines of credit
FSP Satellite Place Corp.	Duluth, GA	31-Mar-17	$	5,500	$	5,500	L+	4.4	%	0.5	%	4.64	%
FSP 1441 Main Street Corp.	Columbia, SC	31-Mar-16		10,800		9,000	L+	4.4	%	0.5	%	4.64	%
FSP Energy Tower I Corp.	Houston, TX	30-Jun-17		20,000		12,600	L+	5.0	%	0.5	%	5.24	%

Secured construction loan
FSP 385 Interlocken Development Corp.	Broomfield, CO	30-Apr-16		42,000		37,541	L+	4.4	%	n/a		4.64	%

Mortgage loan secured by property
FSP Monument Circle LLC (3)	Indianapolis, IN	7-Dec-18		21,000		21,000		4.90	%	n/a		4.90	%
FSP Energy Tower I Corp. (4)	Houston, TX	30-Jun-17		33,000		33,000		6.41	%	n/a		6.41	%

			$	132,300	$	118,641

(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.

(3)

This mortgage loan includes an origination fee of $164,000 and an exit fee of $38,000 when repaid by the borrower.

(4)

This mortgage loan was extended on June 30, 2015 and includes an annual extension fee of $108,900 paid by the borrower to the Company.