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

9 Months Ended

Sep. 30, 2017


	Nine Months Ended September 30,
(in thousands)	2017		2016

Equity in losses of East Wacker	$	272	$	444
Equity in losses of Grand Boulevard		447		124
	$	719	$	568


			Maximum		Amount							Interest
(dollars in thousands)		Maturity	Amount		Drawn at		Interest			Draw		Rate at
Sponsored REIT	Location	Date	of Loan		30-Sep-17		Rate (1)			Fee (2)		30-Sep-17

Secured revolving lines of credit
FSP Satellite Place Corp.	Duluth, GA	31-Dec-19	$	5,500	$	2,385	L+	4.4	%	0.5	%	5.63	%
FSP Energy Tower I Corp. (3)	Houston, TX	30-Jun-19		20,000		15,600	L+	5.0	%	0.5	%	6.23	%

Mortgage loan secured by property
FSP Monument Circle LLC (4)	Indianapolis, IN	7-Dec-18		21,000		21,000		4.90	%	n/a		4.90	%
FSP Energy Tower I Corp. (3) (5)	Houston, TX	30-Jun-19		33,000		33,000		6.41	%	n/a		6.41	%

			$	79,500	$	71,985

(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.

(3)

These loans were extended on June 16, 2017.

(4)

This mortgage loan includes an origination fee of $164,000 and an exit fee of $38,000 when repaid by the borrower.

(5)

This mortgage loan includes an annual extension fee of $108,900 paid by the borrower.


	September 30,		December 31,
(in thousands)	2017		2016

Balance Sheet Data (unaudited):
Real estate, net	$	311,999	$	345,532
Other assets		77,140		86,594
Total liabilities		(151,830)		(164,820)
Shareholders’ equity	$	237,309	$	267,306


	For the Nine Months Ended
	September 30,
(in thousands)	2017		2016

Operating Data (unaudited):
Rental revenues	$	40,775	$	40,453
Other revenues		5		36
Operating and maintenance expenses		(21,219)		(21,892)
Depreciation and amortization		(14,220)		(13,663)
Interest expense		(6,256)		(6,380)
Gain (loss) on sale, less applicable income tax		(702)		26,397
Net income (loss)	$	(1,617)	$	24,951