XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.25.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2025
Leases |
Leases | 7.  Leases ​ Leases as a Lessor: The Company is a lessor of commercial real estate with operations that include the leasing of office properties. Many of the leases with customers contain options to extend leases at a fair market rate and may also include options to terminate leases. The Company considers several inputs when evaluating the amount it expects to derive from its leased assets at the end of the lease terms, such as the remaining useful life, expected market conditions, fair value of lease payments, expected fair values of underlying assets, and expected deployment of the underlying assets. The Company’s strategy to address its risk for the residual value in its commercial real estate is to re-lease the commercial space. ​ The Company has elected to apply the practical expedient to not separate non-lease components from the related lease component of real estate leases. This combined component is primarily comprised of fixed lease payments, early termination fees, common area maintenance cost reimbursements, and parking lease payments. The Company applies ASC 842-Leases to the combined lease and non-lease components. ​ For the three months ended March 31, 2025 and 2024, the Company recognized the following amounts of income relating to lease payments: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Income relating to lease payments: | ​ | ​
​ | ​ | For the Three Months Ended March 31,
(in thousands) |  | 2025 | ​ | 2024
Income from leases (1) | ​ | $ | 27,178 | ​ | $ | 31,425
​ | ​ | $ | 27,178 | ​ | $ | 31,425
​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Includes amounts recognized from variable lease payments of $8,107 and $8,707 for the three months ended March 31, 2025 and 2024, respectively. | ​ | ​ | ​ | ​ | ​ | ​
​

X
- Definition The entire disclosure of information about leases. + References No definition available. + Details
Name: | fsp_LeaseDisclosureTextBlock
Namespace Prefix: | fsp_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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