Franklin Street Properties Corp. · AMEX:FSP
Franklin Street Properties — NAREIT REITweek 2010 Investor Forum
17 slides from Franklin Street Properties's conference presentation, Jun 1, 2010
Slide 1: Presentation for REITWeek 2010
Presentation for REITWeek 2010 NAREIT’s Investor Forum ® June 2010
Slide 2: Franklin Street Properties Corp. company address and website
Franklin Street Properties Corp. ● 401 Edgewater Place ● Wakefield, MA 01880 ● ( 781) 557-1300 www.franklinstreetproperties.com
Slide 3: Management team
George J. Carter Barbara J. Fournier, Chairman & Chief Operating Officer Chief Executive Officer Janet P. Notopoulos John G. Demeritt z Executive Vice President Chief Financial Officer y & President of Property | l Management FRANKLIN Scott H. Carter Jeffrey B. Carter General Counsel STREET PROPERTI
Slide 4: FFO and FFO+GOS
* Please refer to page 25 for a reconciliation of GAAP net income to FFO and FFO+GOS and to page 26 for definitions of FFO and FFO+GOS and for information on the use of non-GAAP financial measures.
Slide 5: Rents from Owned Properties, Investment Banking, Gain on Sale
$160,000 Rents from Owned Properties m Investment Banking = Gain on Sale 2008 2009 $120,000 $80,000 ~ i 2006
Slide 6: Core FFO
* Core FFO excludes Investment Banking segment FFO and Gains on Sale. Please refer to page 25 for a reconciliation of GAAP net income to FFO and FFO+GOS and to page 26 for definitions of FFO and FFO+GOS.
Slide 7: Office building and industrial property portfolio map
@ OFFICE BUILDING - OWNED @ INDUSTRIAL PROPERTY @ OFFICE BUILDING - MANAGED. @ OFFICE BUILDING - MANAGED UNDER CONSTRUCTION
Slide 8: Portfolio by geographic region
Pacific 5.0% Mountain 13.3% East 25.9% Southwest. East North 25.1% Central 10.0% West North Southeast Central 10.6% 10.1%
Slide 9: Occupancy history
100% 80% 60% 40% 20% 0% 92% 89% 93% 93% 84% 85% 2005 2006 2007 2008 2009 3/31/2010
Slide 10: Tenant industry diversification
mServices, Computer Consulting & Software m Energy Services- Refiners, Engineering, Traders Food, Restaurants, & Agribusiness R&D in the Physical, Engineering & Life Sciences mBanks and Credit Services Insurance mTransportation/Logistics Resorts = Government Agencies mi Legal Services Real Estate Ho
Slide 11: Slide 11
Slide 12: Investment banking segment and sponsored REITs
• Investment banking segment employs eight in-house brokers and generates syndication and transaction fees from non-traded REITs sponsored by FSP • Non-traded REITs sponsored by FSP target opportunities which in many instances have a different risk/reward profile than properties acquired directly in
Slide 13: Gross Syndication Proceeds
Gross Syndication Proceeds ($ in millions) $170.2 $138.8 91475 $57.4 | $40.4 2005 2006 2007 2008 2009
Slide 14: FSP total return versus peer group
FSP and “Peer Group” total returns assume reinvestment of dividends to allow for true comparison to total return indices, whose daily values account for reinvestment of dividends. Index prices of total return indices account for dividends, while index prices of S&P 500, SmallCap 600 and Russell 2000
Slide 15: FSP total return versus peer group
FSP and “Peer Group” total returns assume reinvestment of dividends to allow for true comparison to total return indices, whose daily values account for reinvestment of dividends. Index prices of total return indices account for dividends, while index prices of S&P 500, SmallCap 600 and Russell 2000
Slide 16: FSP total return versus peer group
FSP and “Peer Group” total returns assume reinvestment of dividends to allow for true comparison to total return indices, whose daily values account for reinvestment of dividends. Index prices of total return indices account for dividends, while index prices of S&P 500, SmallCap 600 and Russell 2000
Slide 17: Conservative use of debt and equity for growth
• Secured debt potential with new acquisitions Stair step approach to growth through conservative use of debt and equity • Use of leverage to invest in long-term assets • Accordion overall leverage in a target range of 10-40% • At suitable times raise equity capital to reduce debt levels and continu
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