Related Party Transactions and Investments in Non-Consolidated Entities (Tables)

6 Months Ended

Jun. 30, 2015

Related Party Transactions and Investments in Non-Consolidated Entities

Schedule of equity in losses of investments in non-consolidated REITs

	Six Months Ended
	June 30,
(in thousands)	2015		2014
Equity in loss of East Wacker	$	309	$	960
Equity in loss of Grand Boulevard	51		76
	$	360	$	1,036

Summary of the Sponsored REIT Loans outstanding

			Maximum		Amount						Interest
		Maturity	Amount		Drawn at		Interest		Draw		Rate at
(dollars in thousands)	Location	Date	of Loan		30-Jun-15		Rate (1)		Fee (2)		30-Jun-15
Sponsored REIT
Secured revolving lines of credit
FSP Satellite Place Corp.	Duluth, GA	31-Mar-17	$	5,500	$	5,500	L+4.4	%	0.5	%	4.58	%
FSP 1441 Main Street Corp.	Columbia, SC	31-Mar-16	10,800		9,000		L+4.4	%	0.5	%	4.58	%
FSP Energy Tower I Corp.	Houston, TX	30-Jun-17	20,000		8,600		L+5.0	%	0.5	%	5.18	%
Secured construction loan
FSP 385 Interlocken Development Corp.	Broomfield, CO	30-Apr-16	42,000		37,541		L+4.4	%	n/a		4.58	%
Mortgage loan secured by property
FSP Energy Tower I Corp.	Houston, TX	30-Jun-17	33,000		33,000		6.41	%	n/a		6.41	%
			$	111,300	$	93,641

(1) The interest rate is 30-day LIBOR rate plus the additional rate indicated, otherwise a fixed rate.

(2) The draw fee is a percentage of each new advance, and is paid at the time of each new draw.

Summary of financial information of Sponsored REITs

	June 30,			December 31,
(in thousands)	2015			2014
Balance Sheet Data (unaudited):
Real estate, net	$	421,429		$	451,822
Other assets	101,701			127,259
Total liabilities	(198,575		)	(203,239		)
Shareholders’ equity	$	324,555		$	375,842

	For the Six Months Ended
	June 30,
(in thousands)	2015			2014
Operating Data (unaudited):
Rental revenues	$	28,174		$	23,305
Other revenues	25			14
Operating and maintenance expenses	(15,266		)	(11,746		)
Depreciation and amortization	(9,925		)	(7,677		)
Interest expense	(4,930		)	(3,431		)
Net income (loss)	$	(1,922	)	$	465