XML 54 R37.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Significant Accounting Policies - Deferred Leasing Commissions and Revenue Recognition (Details) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2023 USD ($) item shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares
Deferred Leasing Commissions |  |  |
Amortization expense of deferred leasing commissions | $ 5,900 | $ 7,100 | $ 10,700
Estimated annual amortization of deferred leasing commissions for the succeeding five years |  |  |
2024 | 4,466 |  |
2025 | 3,914 |  |
2026 | 3,285 |  |
2027 | 2,883 |  |
2028 | 2,426 |  |
2028 and thereafter | 6,690 |  |
Summary of rental revenue |  |  |
Income from leases | 103,716 | 107,990 | 148,705
Reimbursable expenses | 42,311 | 49,736 | 54,825
Straight line rent adjustments | (626) | 5,895 | 4,017
Amortization of favorable and unfavorable leases | 45 | 118 | 34
Total | $ 145,446 | $ 163,739 | $ 207,581
Segment Reporting |  |  |
Number of reporting segments | item | 1 |  |
Net Income Per Share |  |  |
Potential dilutive shares outstanding | shares | 0 | 0 | 0
Denominator used for calculating basic net income per share (in shares) | shares | 103,357,000 | 103,338,000 | 106,667,000
Denominator used for calculating diluted net income per share (in shares) | shares | 103,357,000 | 103,338,000 | 106,667,000
Derivative instruments |  |  |
Fair value hedges outstanding | $ 0 |  |
Rental |  |  |
Summary of rental revenue |  |  |
Total | $ 145,446 | $ 163,739 | $ 207,581

X
- Definition The net amount of expense (income) recorded in earnings to allocate the value of the identifiable intangible asset or liability established for an assumed above or below-market lease acquired in an acquisition. + References No definition available. + Details
Name: | fsp_AmortizationOfFiniteLivedIdentifiableIntangibleAssetLiabilityNet
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseAbstract
Namespace Prefix: | fsp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of amortization expense expected to be recognized for the remainder of deferred leasing commissions useful life after the fifth succeeding fiscal year. + References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseAfterYearFive
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of amortization of deferred leasing commissions expected to be recognized during the year five of the five succeeding fiscal years. + References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseYearFive
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of amortization of deferred leasing commissions expected to be recognized during the year four of the five succeeding fiscal years. + References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseYearFour
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of amortization of deferred leasing commissions expected to be recognized during the year one of the five succeeding fiscal years. + References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseYearOne
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of amortization of deferred leasing commissions expected to be recognized during the year three of the five succeeding fiscal years. + References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseYearThree
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of amortization of deferred leasing commissions expected to be recognized during the year two of the five succeeding fiscal years. + References No definition available. + Details
Name: | fsp_DeferredLeasingCommissionsFutureAmortizationExpenseYearTwo
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | fsp_DerivativeInstrumentsAbstract
Namespace Prefix: | fsp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents lease revenue excluding tenant reimbursable expenses straight line rent adjustments and amortization of favorable and unfavorable leases. + References No definition available. + Details
Name: | fsp_OperatingLeasesLeaseRevenueExcludingReimbursableExpensesStraightLineRentAdjustmentsAndAmortization
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents revenue from allowable charges due a landlord from its tenant. + References No definition available. + Details
Name: | fsp_RevenueFromTenantReimbursements
Namespace Prefix: | fsp_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DeferredCostsLeasingNetAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Net fair value of all derivative instruments designated as fair value hedging instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 5 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480463/815-10-45-5 + Details
Name: | us-gaap_FairValueHedgesAtFairValueNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-18 + Details
Name: | us-gaap_NumberOfReportableSegments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479773/842-30-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482964/270-10-50-6A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479016/842-30-45-3 + Details
Name: | us-gaap_OperatingLeaseLeaseIncome
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of periodic reduction over lease term of carrying amount of right-of-use asset from operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28 + Details
Name: | us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueRecognitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingDisclosureOfEntitysReportableSegmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of the adjustment to rental revenues to measure escalating leasing revenues on a straight line basis. + References No definition available. + Details
Name: | us-gaap_StraightLineRentAdjustments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-16 + Details
Name: | us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10 + Details
Name: | us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ProductOrServiceAxis=fsp_RentalRealEstateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |