Key Developments: Franklin Street Properties Corp (FSP)
13.94USD
22 May 2013
$-0.24 (-1.69%)
$14.18
$14.10
$14.33
$13.77
1,006,509
464,319
$15.27
$9.57
Latest Key Developments (Source: Significant Developments)
Franklin Street Properties Corp Announces Pricing Of Common Stock Offering
Franklin Street Properties Corp announced the pricing of previously-announced public offering of 15.0 million shares of common stock at a price of $14.00 per share, for net proceeds of approximately $201.1 million after underwriting discounts and commissions and estimated offering expenses (or approximately $231.3 million if the underwriters' option to purchase additional shares is exercised in full). FSP has granted the underwriters the option to purchase up to an additional 2.25 million shares of common stock. The offering is expected to close on May 15, 2013. The Company intends to use the net proceeds of the offering to fund a portion of acquisition of 999 Peachtree, a Class-A office building in Atlanta, GA, and 1999 Broadway, a Class-A office building in Denver, CO. These properties are currently under contract and the acquisitions are expected to close on or before July 1. This offering is not contingent upon the closing of either acquisition and pending closing of the acquisitions, the Company intends to use the net proceeds from this offering to repay amounts outstanding under revolving credit facility and/or for general corporate purposes. BofA Merrill Lynch, Baird and BMO Capital Markets are acting as joint book-running managers for the offering. PNC Capital Markets LLC, RBS, Capital One Southcoast, Piper Jaffray, TD Securities and BB&T Capital Markets are acting as co-managers for the offering. Full Article
Franklin Street Properties Corp Declares Quarterly Dividend
Franklin Street Properties Corp announced that its Board of Directors declared a regular quarterly dividend of $0.19 per share of common stock for the period January 1, 2013 through March 31, 2013, payable on May 16, 2013 to stockholders of record as of April 26, 2013. Full Article
Franklin Street Properties Corp Declares Quarterly Dividend
Franklin Street Properties Corp announced that Board of Directors declared a regular quarterly dividend of $0.19 per share of common stock for the period October 1, 2012 through December 31, 2012, payable on February 14, 2013 to stockholders of record as of January 25, 2013. Full Article
Franklin Street Properties Corp Acquires Office Property In Houston, Texas
Franklin Street Properties Corp announced that its acquisition of an office property in the Westchase Submarket of Houston, Texas for a purchase price of $154,750,000. The office property is located at 10370 and 10350 Richmond Avenue, Houston, Texas and consists of two, 14-story, multi-tenant office buildings containing an aggregate of approximately 629,022 rentable square feet of space and a parking garage located on approximately 6.5 acres of land. Completed in 1983 and 2008, respectively, the buildings are approximately 95% leased. This acquisition brings total portfolio of directly-owned properties to 38 containing an aggregate of approximately 8,068,217 rentable square feet. Full Article
Franklin Street Properties Corp Declares Quarterly Dividend
Franklin Street Properties Corp announced that its Board of Directors declared a regular quarterly dividend of $0.19 per share of common stock for the period July 1, 2012 through September 30, 2012, payable on November 15, 2012 to stockholders of record as of October 26, 2012. Full Article
Franklin Street Properties Corp. Acquires Office Building in Atlanta, Georgia
Franklin Street Properties Corp. announced its acquisition of an office building in the Central Perimeter Submarket of Atlanta, Georgia for a purchase price of $52,750,000. Completed in 1985, the building is located at One Ravinia Drive, contains approximately 386,603 rentable square feet and is approximately 82% leased. Full Article
Franklin Street Properties Corp. Declares Quarterly Dividend
Franklin Street Properties Corp. announced that its Board of Directors declared a regular quarterly dividend of $0.19 per share of common stock for the period April 1, 2012 through June 30, 2012, payable on August 16, 2012 to stockholders of record as of July 27, 2012. Full Article
Franklin Street Properties Corp. Declared Quarterly Dividend
Franklin Street Properties Corp.announced that its Board of Directors declared a regular quarterly dividend for the three months ended March 31, 2012 of $0.19 per share of common stock payable on May 17, 2012 to stockholders of record on April 27, 2012. Full Article
Franklin Street Properties Corp. Declares Quarterly Dividend
Franklin Street Properties Corp. announced that its Board of Directors declared a regular quarterly dividend of $0.19 per share of common stock for the period January 1, 2012 through March 31, 2012, payable on May 17, 2012 to stockholders of record as of April 27, 2012. Full Article
Franklin Street Properties Corp. Declares Quarterly Dividend
Franklin Street Properties Corp. announced that its Board of Directors declared a regular quarterly dividend of $0.19 per share of common stock for the period July 1, 2011 through September 30, 2011, payable on November 18, 2011 to stockholders of record as of October 28, 2011. Full Article
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