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SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2019

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

FRANKLIN STREET PROPERTIES CORP.

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2019


				Initial Cost									Historical Cost
										Costs
										Capitalized						Buildings									Total Costs,
							Buildings			(Disposals)						Improvements									Net of			Depreciable						Date of
		Encumbrances					Improvements			Subsequent to						and						Accumulated			Accumulated			Life				Year		Acquisition
Description		(1)		Land			and Equipment			Acquisition			Land			Equipment			Total (2)			Depreciation			Depreciation			Years				Built		(3)
		(in thousands)
Commercial Properties:
Forest Park, Charlotte, NC		—		$	1,559		$	5,672		$	446		$	1,559		$	6,118		$	7,677			2,148		$	5,529		5	-	39		1999		1999
Meadow Point, Chantilly, VA		—			2,634			18,911			7,305			2,634			26,216			28,850			13,555			15,295		5	-	39		1999		2001
Timberlake, Chesterfield, MO		—			2,984			38,661			9,919			2,984			48,580			51,564			21,437			30,127		5	-	39		1999		2001
Northwest Point, Elk Grove Village, IL		—			2,914			26,295			12,304			2,914			38,599			41,513			18,391			23,122		5	-	39		1999		2001
Timberlake East, Chesterfield, MO		—			2,626			17,608			4,768			2,626			22,376			25,002			10,037			14,965		5	-	39		2000		2002
Park Ten, Houston, TX		—			1,061			21,303			5,922			567			27,719			28,286			12,237			16,049		5	-	39		1999		2002
Addison, Addison, TX		—			4,325			48,040			11,067			4,325			59,107			63,432			21,258			42,174		5	-	39		1999		2002
Collins, Richardson, TX		—			4,000			42,598			7,508			4,000			50,106			54,106			21,876			32,230		5	-	39		1999		2003
Greenwood, Englewood, CO		—			3,100			30,201			11,157			3,100			41,358			44,458			17,024			27,434		5	-	39		2000		2005
River Crossing, Indianapolis, IN		—			3,000			36,926			4,521			3,000			41,447			44,447			15,733			28,714		5	-	39		1998		2005
Innsbrook, Glenn Allen, VA		—			5,000			40,216			5,958			5,000			46,174			51,174			17,850			33,324		5	-	39		1999		2003
380 Interlocken, Bloomfield, CO		—			8,275			34,462			9,919			8,275			44,381			52,656			18,186			34,470		5	-	39		2000		2003
Blue Lagoon, Miami, FL		—			6,306			46,124			6,373			6,306			52,497			58,803			14,998			43,805		5	-	39		2002		2003
Eldridge Green, Houston, TX		—			3,900			43,791			4,536			3,900			48,327			52,227			18,372			33,855		5	-	39		1999		2004
Liberty Plaza, Addison, TX		—			4,374			21,146			8,307			4,374			29,453			33,827			11,112			22,715		5	-	39		1985		2006
One Overton, Atlanta, GA		—			3,900			77,229			15,453			3,900			92,682			96,582			33,767			62,815		5	-	39		2002		2006
390 Interlocken, Broomfield, CO		—			7,013			37,751			14,063			7,013			51,814			58,827			16,370			42,457		5	-	39		2002		2006
Park Ten II, Houston, TX		—			1,300			31,712			6,616			1,300			38,328			39,628			10,147			29,481		5	-	39		2006		2006
Dulles Virginia, Sterling, VA		—			4,813			13,285			6,082			4,813			19,367			24,180			6,384			17,796		5	-	39		1999		2008
Stonecroft, Chantilly, VA		—			2,102			18,003			63			2,102			18,066			20,168			4,847			15,321		5	-	39		2008		2009
121 South Eight Street, Minneapolis, MN		—			4,444			15,214			22,793			4,444			38,007			42,451			8,952			33,499		5	-	39		1974		2010
801 Marquette Ave South, Minneapolis, MN		—			4,184			—			22,190			4,184			22,190			26,374			904			25,470		5	-	39		1923		2010
909 Davis, Evanston, IL		—			4,912			18,229			7,298			4,912			25,527			30,439			5,832			24,607		5	-	39		2002		2011
Emperor Boulevard, Durham, NC		—			2,423			53,997			1,052			2,423			55,049			57,472			12,346			45,126		5	-	39		2009		2011
Legacy Tennyson Center, Plano, TX		—			3,067			22,064			2,518			3,067			24,582			27,649			5,519			22,130		5	-	39		2008		2011
One Legacy Circle, Plano, TX		—			2,590			36,608			2,678			2,590			39,286			41,876			9,895			31,981		5	-	39		2008		2011
One Ravinia Drive, Atlanta, GA		—			2,686			35,125			9,557			2,686			44,682			47,368			9,142			38,226		5	-	39		1985		2012
Two Ravinia Drive, Atlanta, GA		—			7,375			58,726			10,641			7,375			69,367			76,742			9,113			67,629		5	-	39		1987		2015
Westchase I & II, Houston, TX		—			8,491			121,508			12,303			8,491			133,811			142,302			25,745			116,557		5	-	39		2008		2012
1999 Broadway, Denver CO		—			16,334			137,726			30,899			16,334			168,625			184,959			28,194			156,765		5	-	39		1986		2013
999 Peachtree, Atlanta, GA		—			10,187			107,727			17,689			10,187			125,416			135,603			20,935			114,668		5	-	39		1987		2013
1001 17th Street, Denver, CO		—			17,413			165,058			18,084			17,413			183,142			200,555			29,608			170,947		5	-	39		2006		2013
Plaza Seven, Minneapolis, MN		—			6,604			54,240			7,787			6,604			62,027			68,631			6,962			61,669		5	-	39		1987		2016
Pershing Plaza, Atlanta, GA		—			5,300			34,158			1,417			5,300			35,575			40,875			3,117			37,758		5	-	39		1989		2016
600 17th Street, Denver, CO		—			20,876			99,941			6,387			20,876			106,328			127,204			8,704			118,500		5	-	39		1982		2016
Balance — Real Estate		—		$	192,072		$	1,610,255		$	325,580		$	191,578		$	1,936,329		$	2,127,907		$	490,697		$	1,637,210

(1)	There are no encumbrances on the above properties.

(2)	The aggregate cost for Federal Income Tax purposes is $2,355,479.

(3)	Original date of acquisition by Sponsored Entity.

The following table summarizes the changes in the Company’s real estate investments and accumulated depreciation:


		December 31,
(in thousands)		2019			2018			2017
Real estate investments, at cost:
Balance, beginning of year		$	2,058,352		$	2,008,823		$	2,027,520
Improvements			74,324			53,279			54,097
Dispositions			(4,769)			(3,750)			(72,794)
Balance, end of year - Real Estate		$	2,127,907		$	2,058,352		$	2,008,823

Accumulated depreciation:
Balance, beginning of year		$	432,579		$	376,131		$	338,506
Depreciation			62,887			60,198			57,312
Dispositions			(4,769)			(3,750)			(19,687)
Balance, end of year - Accumulated Depreciation		$	490,697		$	432,579		$	376,131