$FSP
Franklin Street Properties Corp

2021 Q1 Form 10-Q Financial Statement

#000155837021005724 Filed on May 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $59.04M $62.98M
YoY Change -6.26% -2.68%
Cost Of Revenue $15.94M $17.30M
YoY Change -7.86% -2.41%
Gross Profit $43.10M $45.69M
YoY Change -5.66% -2.78%
Gross Profit Margin 73.0% 72.54%
Selling, General & Admin $4.146M $3.525M
YoY Change 17.62% -77.42%
% of Gross Profit 9.62% 7.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.09M $23.09M
YoY Change 8.67% -3.66%
% of Gross Profit 58.21% 50.53%
Operating Expenses $28.53M $25.86M
YoY Change 10.3% -33.44%
Operating Profit -$6.393M -$1.003M
YoY Change 537.39% -18.72%
Interest Expense $8.600M $9.063M
YoY Change -5.11% -3.26%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$6.393M -$1.003M
YoY Change 537.39% -18.72%
Income Tax $67.00K $68.00K
% Of Pretax Income
Net Earnings -$6.460M -$1.071M
YoY Change 503.17% -11.12%
Net Earnings / Revenue -10.94% -1.7%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.06 -$9.984K
COMMON SHARES
Basic Shares Outstanding 107.3M 107.3M
Diluted Shares Outstanding 107.3M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.613M $17.28M
YoY Change -84.88% 95.69%
Cash & Equivalents $2.613M $17.28M
Short-Term Investments
Other Short-Term Assets $5.873M $7.486M
YoY Change -21.55% -28.49%
Inventory
Prepaid Expenses
Receivables $74.08M $71.93M
Other Receivables $0.00 $0.00
Total Short-Term Assets $82.57M $96.70M
YoY Change -14.61% 21.44%
LONG-TERM ASSETS
Property, Plant & Equipment $147.0K $215.0K
YoY Change -31.63% -99.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $58.27M $53.25M
YoY Change 9.43% 7.78%
Total Long-Term Assets $1.707B $1.751B
YoY Change -2.52% -3.35%
TOTAL ASSETS
Total Short-Term Assets $82.57M $96.70M
Total Long-Term Assets $1.707B $1.751B
Total Assets $1.789B $1.848B
YoY Change -3.15% -2.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.46M $57.08M
YoY Change 11.18% 9.24%
Accrued Expenses $2.834M $3.138M
YoY Change -9.69% -2.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $155.0M
YoY Change
Total Short-Term Liabilities $229.3M $69.83M
YoY Change 228.42% 12.97%
LONG-TERM LIABILITIES
Long-Term Debt $789.4M $995.2M
YoY Change -20.68% -0.83%
Other Long-Term Liabilities $15.13M $25.30M
YoY Change -40.2% 328.1%
Total Long-Term Liabilities $804.5M $1.020B
YoY Change -21.16% 1.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $229.3M $69.83M
Total Long-Term Liabilities $804.5M $1.020B
Total Liabilities $1.034B $1.090B
YoY Change -5.18% 1.78%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.357B $1.357B
YoY Change 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $755.6M $757.3M
YoY Change
Total Liabilities & Shareholders Equity $1.789B $1.848B
YoY Change -3.15% -2.31%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$6.460M -$1.071M
YoY Change 503.17% -11.12%
Depreciation, Depletion And Amortization $25.09M $23.09M
YoY Change 8.67% -3.66%
Cash From Operating Activities $1.645M $7.201M
YoY Change -77.16% -24.06%
INVESTING ACTIVITIES
Capital Expenditures $16.02M $20.05M
YoY Change -20.11% 31.73%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$16.02M -$20.05M
YoY Change -20.11% 17.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.34M 20.35M
YoY Change -29.52% 286.22%
NET CHANGE
Cash From Operating Activities 1.645M 7.201M
Cash From Investing Activities -16.02M -20.05M
Cash From Financing Activities 14.34M 20.35M
Net Change In Cash -37.00K 7.493M
YoY Change -100.49% -419.53%
FREE CASH FLOW
Cash From Operating Activities $1.645M $7.201M
Capital Expenditures $16.02M $20.05M
Free Cash Flow -$14.38M -$12.85M
YoY Change 11.86% 123.88%

Facts In Submission

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20054000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16022000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20054000
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9660000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9654000
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
36500000
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
35000000
CY2021Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
12500000
CY2020Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
5000000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14340000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20346000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7493000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4150000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9790000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4113000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17283000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
5870000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
5899000
CY2021Q1 fsp Number Of Rei Ts In Which Entity Holds Noncontrolling Common Stock Interest
NumberOfREITsInWhichEntityHoldsNoncontrollingCommonStockInterest
2
CY2021Q1 fsp Number Of Sponsored Reits Company Held Interest In
NumberOfSponsoredReitsCompanyHeldInterestIn
2
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
33
CY2021Q1 fsp Number Of Properties In Redevelopment
NumberOfPropertiesInRedevelopment
1
CY2021Q1 fsp Number Of Sponsored Reits Company Held Interest In
NumberOfSponsoredReitsCompanyHeldInterestIn
2
CY2021Q1 fsp Number Of Promissory Notes Secured By Mortgages On Real Estate Owned By Sponsored Rei Ts
NumberOfPromissoryNotesSecuredByMortgagesOnRealEstateOwnedBySponsoredREITs
1
CY2021Q1 fsp Number Of Properties In Redevelopment
NumberOfPropertiesInRedevelopment
1
CY2020Q1 fsp Number Of Properties In Redevelopment
NumberOfPropertiesInRedevelopment
3
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
33
CY2020Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
32
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
9548810
CY2020Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
9506513
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2613000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17283000
CY2021Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
1500000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4113000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17283000
CY2021Q1 fsp Number Of Rei Ts In Which Entity Holds Noncontrolling Common Stock Interest
NumberOfREITsInWhichEntityHoldsNoncontrollingCommonStockInterest
2
CY2020Q4 fsp Number Of Rei Ts In Which Entity Holds Noncontrolling Common Stock Interest
NumberOfREITsInWhichEntityHoldsNoncontrollingCommonStockInterest
2
CY2021Q1 fsp Asset Management Fees Percentage Low End Of Range
AssetManagementFeesPercentageLowEndOfRange
0.01
CY2021Q1 fsp Asset Management Fees Percentage High End Of Range
AssetManagementFeesPercentageHighEndOfRange
0.05
CY2021Q1 fsp Notice Period For Cancellation Of Asset Management Fee Contract
NoticePeriodForCancellationOfAssetManagementFeeContract
P30D
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
16000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
21000
CY2021Q1 fsp Loans And Leases Receivable Related Parties Maximum Amount Of Loan
LoansAndLeasesReceivableRelatedPartiesMaximumAmountOfLoan
21000000
CY2021Q1 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
21000000
CY2021Q1 us-gaap Hedged Liability Fair Value Hedge
HedgedLiabilityFairValueHedge
13700000
CY2021Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
7100000
CY2021Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
7100000
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
107328199
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.09
CY2021Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
9660000
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.09
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
9654000
CY2021Q1 fsp Maximum Ownership Percentage In Each Issuer Other Than Reit Or Trs To Maintain Reit Status
MaximumOwnershipPercentageInEachIssuerOtherThanREITOrTRSToMaintainREITStatus
0.10
CY2021Q1 fsp Maximum Ownership In All Taxable Reit Subsidiaries As Percentage Of Assets Of Entity To Maintain Reit Status
MaximumOwnershipInAllTaxableREITSubsidiariesAsPercentageOfAssetsOfEntityToMaintainREITStatus
0.20
CY2017 fsp Maximum Ownership In All Taxable Reit Subsidiaries As Percentage Of Assets Of Entity To Maintain Reit Status
MaximumOwnershipInAllTaxableREITSubsidiariesAsPercentageOfAssetsOfEntityToMaintainREITStatus
0.25
CY2021Q1 fsp Maximum Ownership In All Taxable Reit Subsidiaries As Percentage Of Assets Of Entity To Maintain Reit Status Including Other Non Real Estate Assets
MaximumOwnershipInAllTaxableREITSubsidiariesAsPercentageOfAssetsOfEntityToMaintainREITStatusIncludingOtherNonRealEstateAssets
0.25
CY2020Q4 fsp Operating Loss Carry Forwards Reit Subsidiary
OperatingLossCarryForwardsREITSubsidiary
4600000
CY2019Q4 fsp Operating Loss Carry Forwards Reit Subsidiary
OperatingLossCarryForwardsREITSubsidiary
4400000
CY2021Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
13000000.0
CY2021Q1 fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
67000
CY2020Q1 fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
68000
CY2021Q1 fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
67000
CY2020Q1 fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
68000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
67000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
68000
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2021Q1 fsp Summary Of Income Relating To Lease Payments And Undiscounted Cash Flows
SummaryOfIncomeRelatingToLeasePaymentsAndUndiscountedCashFlows
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80.13%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:68.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:68.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">Income relating to lease payments:</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:29.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:68.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:29.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Three Months Ended </b></p></td></tr><tr><td style="vertical-align:bottom;width:68.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">(in thousands)</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">March 31, 2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">March 31, 2020</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:68.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Income from leases (1)</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:11.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 56,709</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:11.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 61,529</p></td></tr><tr><td style="vertical-align:bottom;width:68.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 56,709</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 61,529</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:68.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:68.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">(1) Amounts recognized from variable lease payments were $14,688 and $15,629 for the three months ended March 31, 2021 and 2020, respectively.</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.03%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr></table>
CY2021Q1 fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
56709000
CY2020Q1 fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
61529000
CY2021Q1 fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
56709000
CY2020Q1 fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
61529000
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
14688000
CY2020Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
15629000

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