Business
Franklin Street Properties Corp. Closes $320 Million Secured Credit Facility Refinancing All Outstanding Indebtedness and Provides Additional Update on Review of Strategic Alternatives
WAKEFIELD, Mass., February 27, 2026--Franklin Street Properties Corp. (the "Company", "FSP", "our" or "we") (NYSE American: FSP) announced today that it has closed a $320 million secured credit facility (the "Facility") with an affiliate of TPG Credit (the "Lender"). The Company repaid in full all of its outstanding $248.9 million aggregate principal amount of indebtedness in an initial drawdown of $258.5 million under the Facility, net of original issue discount of $16.5 million (the "Initial T
About this update from Franklin Street Properties Corp.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":298,"url":"https://media.zenfs.com/en/business-wire.com/6c749d09e6f40d5c154b704f4cacae2a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/aeCNEYcXVIRPQmZaLVH7KQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU5NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/6c749d09e6f40d5c154b704f4cacae2a","width":480,"height":298}},"lazy":false},{"type":"text","content":"WAKEFIELD, Mass., February 27, 2026--(BUSINESS WIRE)--Franklin Street Properties Corp. (the "Company", "FSP", "our" or "we") (NYSE American: FSP) announced today that it has closed a $320 million secured credit facility (the "Facility") with an affiliate of TPG Credit (the "Lender"). The Company repaid in full all of its outstanding $248.9 million aggregate principal amount of indebtedness in an initial drawdown of $258.5 million under the Facility, net of original issue discount of $16.5 million (the "Initial Term Loans"). The Facility includes up to $45 million of delayed draw term loans, which, subject to certain conditions, will be used to fund tenant improvements, leasing commissions, building improvements and other uses approved by the Lender ("Delayed Draw Term Loans") and contains customary covenants. Alter Domus (US) LLC will act as administrative agent for the Facility.","length":972,"tagName":"p"},{"type":"text","content":"A summary of key terms is below:","length":32,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Aggregate principal amount $320 million (including both the Initial Term Loans and the Delayed Draw Term Loans).","length":112,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Original stated maturity of February 26, 2029.","length":46,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Initial coupon rate of 9.0%.","length":28,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"An exit fee of 4.0% of the funded amount of the loans due upon repayment.","length":73,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The maturity date is subject to potential extension of up to one year at the option of the Company, subject to certain conditions.","length":130,...