SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2023

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

FRANKLIN STREET PROPERTIES CORP.

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

		Initial Cost						Historical Cost
						Costs
						Capitalized				Buildings						Total Costs,
(in thousands)				Buildings		(Disposals)				Improvements						Net of		Depreciable				Date of
	Encumbrances			Improvements		Subsequent to				and				Accumulated		Accumulated		Life			Year	Acquisition
Description	(1)	Land		and Equipment		Acquisition		Land		Equipment		Total (2)		Depreciation		Depreciation		Years			Built	(3)
	(in thousands)
Commercial Properties:
Park Ten, Houston, TX	—		1,061		21,303		8,100		565		29,899		30,464		15,649		14,815	5	-	39	1999	2002
Addison, Addison, TX	—		4,325		48,040		13,860		4,325		61,900		66,225		30,173		36,052	5	-	39	1999	2002
Greenwood, Englewood, CO	—		3,100		30,201		11,584		3,100		41,785		44,885		20,108		24,777	5	-	39	2000	2005
Innsbrook, Glenn Allen, VA	—		5,000		40,216		14,199		5,000		54,415		59,415		21,809		37,606	5	-	39	1999	2003
Eldridge Green, Houston, TX	—		3,900		43,791		12,400		3,900		56,191		60,091		23,906		36,185	5	-	39	1999	2004
Liberty Plaza, Addison, TX	—		4,374		21,146		11,991		4,279		33,232		37,511		15,314		22,197	5	-	39	1985	2006
Park Ten II, Houston, TX	—		1,300		31,712		7,258		1,300		38,970		40,270		16,870		23,400	5	-	39	2006	2006
121 South Eight Street, Minneapolis, MN	—		4,444		15,214		30,378		4,444		45,592		50,036		16,769		33,267	5	-	39	1974	2010
801 Marquette Ave South, Minneapolis, MN	—		4,184		—		28,280		4,184		28,280		32,464		7,216		25,248	5	-	39	1923	2010
Legacy Tennyson Center, Plano, TX	—		3,067		22,064		6,166		3,067		28,230		31,297		9,713		21,584	5	-	39	2008	2011
Westchase I & II, Houston, TX	—		8,491		121,508		24,026		8,491		145,534		154,025		42,809		111,216	5	-	39	2008	2012
1999 Broadway, Denver CO	—		16,334		137,726		43,291		16,334		181,017		197,351		52,482		144,869	5	-	39	1986	2013
1001 17th Street, Denver, CO	—		17,413		165,058		37,227		17,413		202,285		219,698		53,627		166,071	5	-	39	2006	2013
Plaza Seven, Minneapolis, MN	—		6,604		54,240		14,025		6,604		68,265		74,869		16,243		58,626	5	-	39	1987	2016
600 17th Street, Denver, CO	—		20,876		99,941		18,060		20,876		118,001		138,877		23,320		115,557	5	-	39	1982	2016
Monument Circle, Indianapolis, IN			6,416		13,279		—		6,416		13,279		19,695		341		19,354	5	-	39	1992	2023
Balance — Real Estate	—	$	110,889	$	865,439	$	280,845	$	110,298	$	1,146,875	$	1,257,173	$	366,349	$	890,824

(1) There are no encumbrances on the above properties.

(2) The aggregate cost for Federal Income Tax purposes is $1,401,985.

(3) Original date of acquisition by Sponsored Entity.

The following table summarizes the changes in the Company’s real estate investments and accumulated depreciation:

	December 31,
(in thousands)	2023		2022		2021
Real estate investments, at cost:
Balance, beginning of year	$	1,526,665	$	1,615,457	$	2,140,733
Acquisitions		19,695		—		—
Improvements		29,194		60,132		60,910
Assets held for sale		(118,644)		—		—
Dispositions		(199,737)		(148,924)		(586,186)
Balance, end of year - Real Estate	$	1,257,173	$	1,526,665	$	1,615,457
Accumulated depreciation:
Balance, beginning of year	$	423,417	$	424,487	$	538,717
Depreciation		45,558		52,208		60,080
Assets held for sale		(35,399)		—		—
Dispositions		(67,227)		(53,278)		(174,310)
Balance, end of year - Accumulated Depreciation	$	366,349	$	423,417	$	424,487