SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SILVERSTEIN BARRY

(Last)

(First)

(Middle)

5111 OCEAN BOULEVARD, SUITE C

(Street)

SARASOTA,

34242

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
FRANKLIN STREET PROPERTIES CORP /MA/ [ NONE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/30/2005		P		962,374	A	⁽¹⁾	4,090,580	I	[See footnote]⁽²⁾
Common Stock	04/30/2005		P		20,920	A	⁽¹⁾	450,548	I	[See footnote]⁽³⁾
Common Stock	04/30/2005		P		29,850	A	⁽¹⁾	673,439	I	[See footnote]⁽⁴⁾
Common Stock	04/30/2005		P		2,899	A	⁽¹⁾	71,144	I	[See footnote]⁽⁵⁾
Common Stock	04/30/2005		P		6,167	A	⁽¹⁾	30,585	I	[See footnote]⁽⁶⁾
Common Stock								505,084.5	I	[See footnote]⁽⁷⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. On April 30, 2005, Franklin Street Properties Corp (the "Issuer") completed its acquisition of four real estate investment trusts (collectively, the "Target REITs"). Upon consummation of the transaction, the Target REITs were merged with and into an acquisition subsidiary of the Issuer (the "Mergers"). Each holder of stock of the Target REITs received a certain number of shares of the Issuer's common stock as follows: Shares of Issuer Common Stock Issuable for each share of stock of the Target REIT Addison Circle: 5,948.67 Collins Crossing: 6,167.63 Montague: 5,649.72 Royal Ridge: 6,055.79 No fractional shares of the Issuer's common stock were issued in connection with the Mergers.

2. Shares held by Silverstein Investments Limited Partnership III. Mr. Silverstein is the sole limited partner of Silverstein Investments Limited Partnership III and has shared dispositive power and no voting power over these shares.

3. Shares held by a trust beneficially owned by JMB Family Limited Partnership. Mr. Silverstein is a general partner of JMB Family Limited Partnership and the trustee of the trust beneficially owned by JMB Family Limited Partnership and has sole dispositive and sole voting power of these shares.

4. Shares held by a trust beneficially owned by MSTB Family Limited Partnership. Mr. Silverstein is a general partner of MSTB Family Limited Partnership and is the trustee of the trust beneficially owned by MSTB Family Limited Partnership and has sole dispositive and sole voting power of these shares. 99% of the shares beneficially owned by this partnership are attributable to three trusts for the benefit of Mr. Silverstein's adult children. Mr. Silverstein disclaims beneficial ownership of the shares attributable to the trusts for these children, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or any other purpose.

5. Shares held by a trust beneficially owned by the Silverstein Family Limited Partnership 2002, Ltd. Mr. Silverstein is a general partner of the Silverstein Family Limited Partnership 2002, Ltd. and the trustee of the trust beneficially owned by the Silverstein Family Limited Partnership 2002, Ltd. and has sole dispositive and sole voting power of these shares. 99% of the shares beneficially owned by this partnership are attributable to a trust for the benefit of Mrs. Silverstein's brother. Mr. Silverstein disclaims beneficial ownership of the shares attributable to this trust, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or any other purpose.

6. Shares held by a trust beneficially owned by Mr. Silverstein's spouse. Mr. Silverstein disclaims beneficial ownership of the shares beneficially owned by his spouse, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.

7. Shares held by Silverstein Investments Limited Partnership II attributable to a trust for the benefit of two of Mr. Silverstein's children. Mr. Silverstein disclaims beneficial ownership of the shares attributable to these children, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or any other purpose.

	/s/ Barry Silverstein	05/03/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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