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

9 Months Ended

Sep. 30, 2018


	Nine Months Ended September 30,
(in thousands)	2018		2017

Equity in income (loss) of East Wacker	$	7,209	$	(272)
Equity in (loss) of Grand Boulevard		(107)		(447)
Impairment charge		(309)		—
	$	6,793	$	(719)


			Maximum		Amount							Interest
(dollars in thousands)		Maturity	Amount		Drawn at		Interest			Draw		Rate at
Sponsored REIT	Location	Date	of Loan		30-Sep-18		Rate (1)			Fee (2)		30-Sep-18

Secured revolving lines of credit
FSP Satellite Place Corp.	Duluth, GA	31-Dec-19	$	5,500	$	1,325	L+	4.4	%	0.5	%	6.51	%
FSP Energy Tower I Corp.	Houston, TX	30-Jun-19		20,000		15,600	L+	5.0	%	0.5	%	7.11	%

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

			$	79,500	$	70,925

(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)

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

(4)

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


	September 30,		December 31,
(in thousands)	2018		2017

Balance Sheet Data (unaudited):
Real estate, net	$	97,253	$	312,861
Other assets		19,528		74,076
Total liabilities		(76,359)		(151,092)
Shareholders’ equity	$	40,422	$	235,845


	For the Nine Months Ended
	September 30,
(in thousands)	2018		2017

Operating Data (unaudited):
Rental revenues	$	35,714	$	40,775
Other revenues		1		5
Operating and maintenance expenses		(18,479)		(21,219)
Depreciation and amortization		(11,451)		(14,220)
Interest expense		(5,692)		(6,256)
Gain (loss) on sale, less applicable income tax		17,095		(702)
Net income (loss)	$	17,188	$	(1,617)