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SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2020

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, 2020


				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		$	843		$	1,559		$	6,515		$	8,074			2,197		$	5,877		5	-	39		1999		1999
Meadow Point, Chantilly, VA		—			2,634			18,911			8,214			2,634			27,125			29,759			14,512			15,247		5	-	39		1999		2001
Timberlake, Chesterfield, MO		—			2,984			38,661			10,549			2,984			49,210			52,194			23,645			28,549		5	-	39		1999		2001
Northwest Point, Elk Grove Village, IL		—			2,914			26,295			12,401			2,914			38,696			41,610			19,497			22,113		5	-	39		1999		2001
Timberlake East, Chesterfield, MO		—			2,626			17,608			5,377			2,626			22,985			25,611			11,052			14,559		5	-	39		2000		2002
Park Ten, Houston, TX		—			1,061			21,303			6,899			567			28,696			29,263			13,225			16,038		5	-	39		1999		2002
Addison, Addison, TX		—			4,325			48,040			12,106			4,325			60,146			64,471			23,625			40,846		5	-	39		1999		2002
Collins, Richardson, TX		—			4,000			42,598			8,497			4,000			51,095			55,095			23,307			31,788		5	-	39		1999		2003
Greenwood, Englewood, CO		—			3,100			30,201			11,770			3,100			41,971			45,071			18,663			26,408		5	-	39		2000		2005
River Crossing, Indianapolis, IN		—			3,000			36,926			6,448			3,000			43,374			46,374			16,740			29,634		5	-	39		1998		2005
Innsbrook, Glenn Allen, VA		—			5,000			40,216			8,945			5,000			49,161			54,161			19,141			35,020		5	-	39		1999		2003
380 Interlocken, Bloomfield, CO		—			8,275			34,462			12,624			8,275			47,086			55,361			17,122			38,239		5	-	39		2000		2003
Blue Lagoon, Miami, FL		—			6,306			46,124			18,068			6,306			64,192			70,498			14,998			55,500		5	-	39		2002		2003
Eldridge Green, Houston, TX		—			3,900			43,791			5,548			3,900			49,339			53,239			19,925			33,314		5	-	39		1999		2004
Liberty Plaza, Addison, TX		—			4,374			21,146			8,976			4,374			30,122			34,496			12,090			22,406		5	-	39		1985		2006
One Overton, Atlanta, GA		—			3,900			77,229			17,781			3,900			95,010			98,910			37,025			61,885		5	-	39		2002		2006
390 Interlocken, Broomfield, CO		—			7,013			37,751			14,197			7,013			51,948			58,961			18,480			40,481		5	-	39		2002		2006
Park Ten II, Houston, TX		—			1,300			31,712			6,979			1,300			38,691			39,991			11,764			28,227		5	-	39		2006		2006
Dulles Virginia, Sterling, VA		—			4,813			13,285			6,714			4,813			19,999			24,812			7,295			17,517		5	-	39		1999		2008
Stonecroft, Chantilly, VA		—			2,102			18,003			1,814			2,102			19,817			21,919			5,116			16,803		5	-	39		2008		2009
121 South Eight Street, Minneapolis, MN		—			4,444			15,214			24,592			4,444			39,806			44,250			10,917			33,333		5	-	39		1974		2010
801 Marquette Ave South, Minneapolis, MN		—			4,184			—			22,295			4,184			22,295			26,479			1,836			24,643		5	-	39		1923		2010
909 Davis, Evanston, IL		—			4,912			18,229			8,112			4,912			26,341			31,253			6,985			24,268		5	-	39		2002		2011
Legacy Tennyson Center, Plano, TX		—			3,067			22,064			3,411			3,067			25,475			28,542			6,390			22,152		5	-	39		2008		2011
One Legacy Circle, Plano, TX		—			2,590			36,608			3,783			2,590			40,391			42,981			10,600			32,381		5	-	39		2008		2011
One Ravinia Drive, Atlanta, GA		—			2,686			35,125			12,471			2,686			47,596			50,282			10,821			39,461		5	-	39		1985		2012
Two Ravinia Drive, Atlanta, GA		—			7,375			58,726			12,259			7,375			70,985			78,360			11,630			66,730		5	-	39		1987		2015
Westchase I & II, Houston, TX		—			8,491			121,508			14,548			8,491			136,056			144,547			29,975			114,572		5	-	39		2008		2012
1999 Broadway, Denver CO		—			16,334			137,726			38,338			16,334			176,064			192,398			34,199			158,199		5	-	39		1986		2013
999 Peachtree, Atlanta, GA		—			10,187			107,727			23,820			10,187			131,547			141,734			25,096			116,638		5	-	39		1987		2013
1001 17th Street, Denver, CO		—			17,413			165,058			22,284			17,413			187,342			204,755			35,495			169,260		5	-	39		2006		2013
Plaza Seven, Minneapolis, MN		—			6,604			54,240			11,073			6,604			65,313			71,917			9,175			62,742		5	-	39		1987		2016
Pershing Plaza, Atlanta, GA		—			5,300			34,158			2,040			5,300			36,198			41,498			4,110			37,388		5	-	39		1989		2016
600 17th Street, Denver, CO		—			20,876			99,941			11,050			20,876			110,991			131,867			12,069			119,798		5	-	39		1982		2016
Balance — Real Estate		—		$	189,649		$	1,556,258		$	394,826		$	189,155		$	1,951,578		$	2,140,733		$	538,717		$	1,602,016

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

(2)	The aggregate cost for Federal Income Tax purposes is $2,419,780.

(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)		2020			2019			2018
Real estate investments, at cost:
Balance, beginning of year		$	2,127,907		$	2,058,352		$	2,008,823
Improvements			75,472			74,324			53,279
Dispositions			(62,646)			(4,769)			(3,750)
Balance, end of year - Real Estate		$	2,140,733		$	2,127,907		$	2,058,352

Accumulated depreciation:
Balance, beginning of year		$	490,697		$	432,579		$	376,131
Depreciation			67,001			62,887			60,198
Dispositions			(18,981)			(4,769)			(3,750)
Balance, end of year - Accumulated Depreciation		$	538,717		$	490,697		$	432,579