FSP · 10-Q · 2026Q1 · Full report

Acquisitions and Dispositions

FRANKLIN STREET PROPERTIES CORP /MA/ · 2026-04-28 · Importance 79 · Surprise 92

On April 7, 2025 Monument Circle entered into a purchase and sale agreement to sell its Indianapolis property for a gross sales price of $6.0 million and the Company recorded an impairment loss of $13.3 million during the three months ended March 31, 2025 based on that purchase price. The property was reclassified as an asset held for sale at $5.7 million as of March 31, 2025. The property was ultimately sold on June 6, 2025 and final sale adjustments reduced the impairment by $0.4 million to a net loss of $12.9 million. Management stated the disposition did not represent a strategic shift from its focus on sunbelt and mountain west markets and was presented within continuing operations for all periods shown.

Key facts

• Monument Circle sold the Indianapolis property on June 6, 2025 and the previously recorded impairment loss was decreased by $0.4 million during the three months ended June 30, 2025 to a net loss of $12.9 million after final sale adjustments.
• On April 7, 2025 Monument Circle entered into a purchase and sale agreement to sell its Indianapolis property for a gross sales price of $6.0 million.
• The Company has entered into an Inspection and Confidentiality Agreement and is negotiating a Purchase and Sale Agreement with a potential owner user for its Greenwood Plaza property; closing is subject to due diligence, execution of a Purchase and Sale Agreement and other customary closing conditions.
• Monument Circle's Indianapolis property was reclassified as an asset held for sale of $5.7 million as of March 31, 2025.

Impact estimates