$FSP
Franklin Street Properties Corp

2024 Q3 Form 10-Q Financial Statement

#000155837024010384 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $29.68M $30.83M
YoY Change -19.57% -14.99%
Cost Of Revenue $11.57M $11.03M
YoY Change -9.56% -9.17%
Gross Profit $18.11M $19.80M
YoY Change -24.88% -17.92%
Gross Profit Margin 61.01% 64.23%
Selling, General & Admin $3.635M
YoY Change -3.5%
% of Gross Profit 18.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.30M
YoY Change -19.71%
% of Gross Profit 62.11%
Operating Expenses $15.12M
YoY Change -17.9%
Operating Profit $4.686M
YoY Change -17.99%
Interest Expense -$6.734M
YoY Change -210.68%
% of Operating Profit -143.7%
Other Income/Expense, Net
YoY Change
Pretax Income -$15.57M -$20.98M
YoY Change -65.86% 151.35%
Income Tax $56.00K $48.00K
% Of Pretax Income
Net Earnings -$21.02M
YoY Change 149.68%
Net Earnings / Revenue -68.19%
Basic Earnings Per Share -$0.15 -$0.20
Diluted Earnings Per Share -$0.15 -$0.20
COMMON SHARES
Basic Shares Outstanding 103.6M 103.4M
Diluted Shares Outstanding 103.6M 103.5M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.25M
YoY Change 408.58%
Cash & Equivalents $40.86M $30.25M
Short-Term Investments
Other Short-Term Assets $4.064M
YoY Change -28.05%
Inventory
Prepaid Expenses
Receivables $41.25M
Other Receivables $0.00
Total Short-Term Assets $75.56M
YoY Change 18.43%
LONG-TERM ASSETS
Property, Plant & Equipment $80.00K $92.00K
YoY Change -26.61% -27.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $90.81M
YoY Change 103.64%
Total Long-Term Assets $937.0M
YoY Change -17.48%
TOTAL ASSETS
Total Short-Term Assets $75.56M
Total Long-Term Assets $937.0M
Total Assets $981.5M $1.013B
YoY Change -14.78% -15.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.77M
YoY Change -26.88%
Accrued Expenses $3.159M
YoY Change 11.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.17M
YoY Change -19.1%
LONG-TERM LIABILITIES
Long-Term Debt $297.2M
YoY Change -25.52%
Other Long-Term Liabilities $63.00K
YoY Change -58.82%
Total Long-Term Liabilities $297.3M
YoY Change -25.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.17M
Total Long-Term Liabilities $297.3M
Total Liabilities $316.1M $330.5M
YoY Change -28.23% -24.93%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.335B $1.335B
YoY Change 0.02% 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $665.4M $682.1M
YoY Change
Total Liabilities & Shareholders Equity $981.5M $1.013B
YoY Change -14.78% -15.57%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$21.02M
YoY Change 149.68%
Depreciation, Depletion And Amortization $12.30M
YoY Change -19.71%
Cash From Operating Activities -$648.0K
YoY Change -141.3%
INVESTING ACTIVITIES
Capital Expenditures $4.488M
YoY Change -35.42%
Acquisitions
YoY Change
Other Investing Activities -$3.000K
YoY Change
Cash From Investing Activities -$4.491M
YoY Change -35.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.145M
YoY Change 10.84%
NET CHANGE
Cash From Operating Activities -648.0K
Cash From Investing Activities -4.491M
Cash From Financing Activities -1.145M
Net Change In Cash -6.284M
YoY Change -2.01%
FREE CASH FLOW
Cash From Operating Activities -$648.0K
Capital Expenditures $4.488M
Free Cash Flow -$5.136M
YoY Change -4.54%

Facts In Submission

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CY2023Q1 us-gaap Dividends Common Stock
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315000
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1032000
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759094000
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CY2024Q1 us-gaap Stockholders Equity
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270000
CY2024Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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682077000
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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Above And Below Market Leases
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us-gaap Share Based Compensation
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fsp Amortization Of Other Comprehensive Income Into Interest Expense
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292000
fsp Increase Decrease In Operating Lease Acquisition Costs
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824000
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420000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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21079000
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Unsecured Debt
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us-gaap Payments Of Financing Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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65000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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127880000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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6632000
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31495000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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6697000
us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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12345000
us-gaap Income Taxes Paid
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372000
us-gaap Income Taxes Paid
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337000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1992000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4643000
us-gaap Notes Assumed1
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20000000
CY2024Q2 us-gaap Number Of Real Estate Properties
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16
CY2024Q2 fsp Number Of Properties Owned And Consolidated
NumberOfPropertiesOwnedAndConsolidated
17
CY2023Q2 fsp Number Of Properties Owned And Consolidated
NumberOfPropertiesOwnedAndConsolidated
21
CY2024Q2 us-gaap Area Of Real Estate Property
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5478176
CY2023Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
6270658
CY2024Q2 fsp Number Of Properties Classified As Assets Held For Sale
NumberOfPropertiesClassifiedAsAssetsHeldForSale
2
CY2023Q2 fsp Number Of Properties Classified As Assets Held For Sale
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1
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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30245000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5947000
CY2024Q2 us-gaap Restricted Cash
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1250000
CY2023Q2 us-gaap Restricted Cash
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750000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31495000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6697000
fsp Asset Management Fees Percentage Low End Of Range
AssetManagementFeesPercentageLowEndOfRange
0.01
fsp Asset Management Fees Percentage High End Of Range
AssetManagementFeesPercentageHighEndOfRange
0.05
fsp Notice Period For Cancellation Of Asset Management Fee Contract
NoticePeriodForCancellationOfAssetManagementFeeContract
P30D
us-gaap Interest And Fee Income Loans Commercial
InterestAndFeeIncomeLoansCommercial
0
CY2021Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
21000000
CY2021Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
24000000
CY2023Q1 fsp Allowance For Doubtful Accounts Receivable Decrease
AllowanceForDoubtfulAccountsReceivableDecrease
4200000
fsp Allowance For Doubtful Accounts Receivable Decrease
AllowanceForDoubtfulAccountsReceivableDecrease
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4237000
fsp Allowance For Doubtful Accounts Receivable Increase
AllowanceForDoubtfulAccountsReceivableIncrease
0
fsp Allowance For Doubtful Accounts Receivable Increase
AllowanceForDoubtfulAccountsReceivableIncrease
0
fsp Allowance For Doubtful Accounts Receivable Decrease
AllowanceForDoubtfulAccountsReceivableDecrease
0
fsp Allowance For Doubtful Accounts Receivable Decrease
AllowanceForDoubtfulAccountsReceivableDecrease
4237000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2024Q2 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
103566715
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
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0.01
CY2024Q1 us-gaap Dividends Common Stock Cash
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1034000
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
CY2024Q2 us-gaap Dividends Common Stock Cash
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1034000
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
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0.01
CY2023Q1 us-gaap Dividends Common Stock Cash
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1033000
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1032000
fsp Maximum Ownership Percentage In Each Issuer Other Than Reit Or Trs To Maintain Reit Status
MaximumOwnershipPercentageInEachIssuerOtherThanREITOrTRSToMaintainREITStatus
0.10
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
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
CY2023Q4 fsp Operating Loss Carry Forwards Reit Subsidiary
OperatingLossCarryForwardsREITSubsidiary
4900000
CY2022Q4 fsp Operating Loss Carry Forwards Reit Subsidiary
OperatingLossCarryForwardsREITSubsidiary
4900000
fsp Period Of Statute Of Limitations
PeriodOfStatuteOfLimitations
P3Y
fsp Operating Loss Carryforwards Expiration Period
OperatingLossCarryforwardsExpirationPeriod
P20Y
CY2023Q4 fsp Operating Loss Carryforwards Expired In Period
OperatingLossCarryforwardsExpiredInPeriod
700000
CY2021Q4 fsp Operating Loss Carryforwards Expired In Period
OperatingLossCarryforwardsExpiredInPeriod
100000
CY2021Q4 fsp Operating Loss Carryforwards Expected To Be Used In Next Fiscal Period
OperatingLossCarryforwardsExpectedToBeUsedInNextFiscalPeriod
11100000
CY2021Q4 fsp Operating Loss Carryforwards Valuation Allowance Reversal
OperatingLossCarryforwardsValuationAllowanceReversal
11100000
CY2024Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
29700000
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
29700000
fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
106000
fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
142000
fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
106000
fsp Income Tax Reconciliation Revised Texas Franchise Tax
IncomeTaxReconciliationRevisedTexasFranchiseTax
142000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
106000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
142000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
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:68.13%;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:1.84%;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:12.24%;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:1.7%;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:1.83%;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:12.25%;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:68.13%;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:29.88%;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:68.13%;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:29.88%;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;">For the Six Months Ended June 30, </b></p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;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:14.08%;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;">2024</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;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="2" style="vertical-align:bottom;white-space:nowrap;width:14.08%;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;">2023</b></p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;background:#cceeff;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="vertical-align:bottom;white-space:nowrap;width:1.98%;background:#cceeff;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:1.84%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 62,495</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;background:#cceeff;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;"> 74,316</p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;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:1.84%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 62,495</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.7%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;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;"> 74,316</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:68.13%;background:#cceeff;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%;background:#cceeff;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:1.84%;background:#cceeff;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:12.24%;background:#cceeff;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:1.7%;background:#cceeff;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:1.83%;background:#cceeff;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:12.25%;background:#cceeff;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:68.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">(1) Includes amounts recognized from variable lease payments of $17,462 and $21,382 for the six months ended June 30, 2024 and 2023, 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:1.84%;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:12.24%;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:1.7%;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:1.83%;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:12.25%;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><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p>
fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
62495000
fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
74316000
fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
62495000
fsp Operating Lease Lease Income Less Straight Line Rent Adjustment And Amortization Of Favorable And Unfavorable Leases
OperatingLeaseLeaseIncomeLessStraightLineRentAdjustmentAndAmortizationOfFavorableAndUnfavorableLeases
74316000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
17462000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
21382000
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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