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SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

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, 2022


				Initial Cost									Historical Cost
										Costs
										Capitalized						Buildings									Total Costs,
(in thousands)							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		$	4,507		$	1,559		$	10,179		$	11,738			3,079		$	8,659		5	-	39		1999		1999
Northwest Point, Elk Grove Village, IL		—			2,914			26,295			14,275			2,914			40,570			43,484			21,776			21,708		5	-	39		1999		2001
Park Ten, Houston, TX		—			1,061			21,303			7,090			565			28,889			29,454			15,189			14,265		5	-	39		1999		2002
Addison, Addison, TX		—			4,325			48,040			13,447			4,325			61,487			65,812			27,669			38,143		5	-	39		1999		2002
Collins, Richardson, TX		—			4,000			42,598			9,419			4,000			52,017			56,017			26,137			29,880		5	-	39		1999		2003
Greenwood, Englewood, CO		—			3,100			30,201			13,933			3,100			44,134			47,234			21,700			25,534		5	-	39		2000		2005
Innsbrook, Glenn Allen, VA		—			5,000			40,216			9,002			5,000			49,218			54,218			21,900			32,318		5	-	39		1999		2003
Blue Lagoon, Miami, FL		—			6,306			46,124			38,152			6,306			84,276			90,582			19,649			70,933		5	-	39		2002		2003
Eldridge Green, Houston, TX		—			3,900			43,791			9,063			3,900			52,854			56,754			22,346			34,408		5	-	39		1999		2004
Liberty Plaza, Addison, TX		—			4,374			21,146			11,334			4,373			32,481			36,854			14,106			22,748		5	-	39		1985		2006
Park Ten II, Houston, TX		—			1,300			31,712			7,258			1,300			38,970			40,270			15,165			25,105		5	-	39		2006		2006
121 South Eight Street, Minneapolis, MN		—			4,444			15,214			30,549			4,444			45,763			50,207			15,084			35,123		5	-	39		1974		2010
801 Marquette Ave South, Minneapolis, MN		—			4,184			—			28,093			4,184			28,093			32,277			6,174			26,103		5	-	39		1923		2010
Legacy Tennyson Center, Plano, TX		—			3,067			22,064			4,656			3,067			26,720			29,787			8,698			21,089		5	-	39		2008		2011
One Legacy Circle, Plano, TX		—			2,590			36,608			5,754			2,590			42,362			44,952			13,136			31,816		5	-	39		2008		2011
Westchase I & II, Houston, TX		—			8,491			121,508			23,348			8,491			144,856			153,347			38,361			114,986		5	-	39		2008		2012
1999 Broadway, Denver CO		—			16,334			137,726			40,531			16,334			178,257			194,591			46,371			148,220		5	-	39		1986		2013
1001 17th Street, Denver, CO		—			17,413			165,058			34,429			17,413			199,487			216,900			47,256			169,644		5	-	39		2006		2013
Plaza Seven, Minneapolis, MN		—			6,604			54,240			13,795			6,604			68,035			74,639			13,772			60,867		5	-	39		1987		2016
Pershing Plaza, Atlanta, GA		—			5,300			34,158			20,336			5,300			54,494			59,794			6,424			53,370		5	-	39		1989		2016
600 17th Street, Denver, CO		—			20,876			99,941			16,937			20,876			116,878			137,754			19,425			118,329		5	-	39		1982		2016
Balance — Real Estate		—		$	127,142		$	1,043,615		$	355,908		$	126,645		$	1,400,020		$	1,526,665		$	423,417		$	1,103,248

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

(2)	The aggregate cost for Federal Income Tax purposes is $1,686,597.

(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)		2022			2021			2020
Real estate investments, at cost:
Balance, beginning of year		$	1,615,457		$	2,140,733		$	2,127,907
Improvements			60,132			60,910			75,472
Dispositions			(148,924)			(586,186)			(62,646)
Balance, end of year - Real Estate		$	1,526,665		$	1,615,457		$	2,140,733

Accumulated depreciation:
Balance, beginning of year		$	424,487		$	538,717		$	490,697
Depreciation			52,208			60,080			67,001
Dispositions			(53,278)			(174,310)			(18,981)
Balance, end of year - Accumulated Depreciation		$	423,417		$	424,487		$	538,717