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SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2024

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, 2024


				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:
Park Ten, Houston, TX		—			1,061			21,303			8,150			565			29,949			30,514			15,549			14,965		5	-	39		1999		2002
Addison, Addison, TX		—			4,325			48,040			14,489			4,325			62,529			66,854			32,544			34,310		5	-	39		1999		2002
Greenwood, Englewood, CO		—			3,100			30,201			13,165			3,100			43,366			46,466			21,140			25,326		5	-	39		2000		2005
Eldridge Green, Houston, TX		—			3,900			43,791			12,423			3,900			56,214			60,114			25,615			34,499		5	-	39		1999		2004
Liberty Plaza, Addison, TX		—			4,374			21,146			12,958			4,279			34,199			38,478			16,245			22,233		5	-	39		1985		2006
Park Ten II, Houston, TX		—			1,300			31,712			7,261			1,300			38,973			40,273			18,421			21,852		5	-	39		2006		2006
121 South Eight Street, Minneapolis, MN		—			4,444			15,214			29,762			4,444			44,976			49,420			17,736			31,684		5	-	39		1974		2010
801 Marquette Ave South, Minneapolis, MN		—			4,184			—			28,318			4,184			28,318			32,502			8,087			24,415		5	-	39		1923		2010
Legacy Tennyson Center, Plano, TX		—			3,067			22,064			7,115			3,067			29,179			32,246			10,138			22,108		5	-	39		2008		2011
Westchase I & II, Houston, TX		—			8,491			121,508			26,557			8,491			148,065			156,556			46,948			109,608		5	-	39		2008		2012
1999 Broadway, Denver CO		—			16,334			137,726			44,326			16,334			182,052			198,386			58,083			140,303		5	-	39		1986		2013
1001 17th Street, Denver, CO		—			17,413			165,058			42,904			17,413			207,962			225,375			60,394			164,981		5	-	39		2006		2013
Plaza Seven, Minneapolis, MN		—			6,604			54,240			15,228			6,604			69,468			76,072			18,814			57,258		5	-	39		1987		2016
600 17th Street, Denver, CO		—			20,876			99,941			18,848			20,876			118,789			139,665			27,312			112,353		5	-	39		1982		2016
Monument Circle, Indianapolis, IN					6,416			13,279			—			6,416			13,279			19,695			682			19,013		5	-	39		1992		2023
Balance — Real Estate		—		$	105,889		$	825,223		$	281,504		$	105,298		$	1,107,318		$	1,212,616		$	377,708		$	834,908

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

(2)	The aggregate cost for Federal Income Tax purposes is $1,360,898.

(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)		2024			2023			2022
Real estate investments, at cost:
Balance, beginning of year		$	1,257,173		$	1,526,665		$	1,615,457
Acquisitions			—			19,695			—
Improvements			20,535			29,194			60,132
Assets held for sale			—			(118,644)			—
Dispositions			(65,092)			(199,737)			(148,924)
Balance, end of year - Real Estate		$	1,212,616		$	1,257,173		$	1,526,665

Accumulated depreciation:
Balance, beginning of year		$	366,349		$	423,417		$	424,487
Depreciation			37,746			45,558			52,208
Assets held for sale			—			(35,399)			—
Dispositions			(26,387)			(67,227)			(53,278)
Balance, end of year - Accumulated Depreciation		$	377,708		$	366,349		$	423,417