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

3 Months Ended

Mar. 31, 2018


	Three Months Ended March 31,
(in thousands)	2018		2017

Equity in losses of East Wacker	$	77	$	142
Equity in losses of Grand Boulevard		28		255
	$	105	$	397


			Maximum		Amount							Interest
(dollars in thousands)		Maturity	Amount		Drawn at		Interest			Draw		Rate at
Sponsored REIT	Location	Date	of Loan		31-Mar-18		Rate (1)			Fee (2)		31-Mar-18

Secured revolving lines of credit
FSP Satellite Place Corp.	Duluth, GA	31-Dec-19	$	5,500	$	1,855	L+	4.4	%	0.5	%	6.09	%
FSP Energy Tower I Corp.	Houston, TX	30-Jun-19		20,000		15,600	L+	5.0	%	0.5	%	6.69	%

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-19		33,000		33,000		6.41	%	n/a		6.41	%

			$	79,500	$	71,455

(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 includes an annual extension fee of $108,900 paid by the borrower.


	March 31,		December 31,
(in thousands)	2018		2017

Balance Sheet Data (unaudited):
Real estate, net	$	311,178	$	312,861
Other assets		70,909		74,076
Total liabilities		(148,088)		(151,092)
Shareholders’ equity	$	233,999	$	235,845


	For the Three Months Ended
	March 31,
(in thousands)	2018		2017

Operating Data (unaudited):
Rental revenues	$	13,229	$	13,875
Other revenues		1		2
Operating and maintenance expenses		(6,892)		(7,176)
Depreciation and amortization		(4,369)		(5,316)
Interest expense		(2,006)		(2,119)
Net loss	$	(37)	$	(734)