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Franklin Street Properties Corp. Message Board

  • texasbroker2000 texasbroker2000 Feb 22, 2012 2:34 PM Flag

    That was a tense CC

    FSP was pretty frank when the question came up on the Minn building loan.

    I have to admit I thought it seemed aggressive also....why loan money out at a 6% return best case when you can buy your stock at a 7.3% return with supposed upside.

    I'd also say that at $100 million (loan plus finish commitment) that's a large percentage of your $800 million market cap....

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    • I have to agree: it was strange to hear Guinee become so pedantic: If he dislikes FSP and Carter so much then he should just drop the coverage. I was concerned about the loan as well but the $30M line was greater. However the fact that they were able to sign a lease for 18 more years and for all the space they should be able to secure a solid long term interest rate or sell the property at a low cap rate. FSP will be repaid in full.

      The bad news is that, the stock is languishing as a result of the poor management. While performance was better, leasing is up and expected to improve the lack of established investment relations has resulted in continued poor performance. The Board needs to step in and find new leadership.

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