FSP · 10-Q · 2026Q1 · Full report
Net Operating Income (NOI)
FRANKLIN STREET PROPERTIES CORP /MA/ · 2026-04-28 · Importance 49 · Surprise 32
Property NOI from owned properties was $11.451 million for the three months ended March 31, 2026, versus $11.343 million for the comparable period in 2025 (1.0% increase). Same-store NOI declined modestly in certain measures (Same Store reported at $11.461M vs $11.536M, a -0.7% change) with regional divergence: South NOI rose ~8.3%, Midwest NOI rose ~1.2%, while West NOI declined ~7.7%. Management presents NOI by region (MidWest, South, West) and reconciles it to net loss, noting that NOI excludes non-property specific items and NOI from certain investments. These NOI trends inform leasing/pricing and disposition decisions across the portfolio.
Key facts
- Property NOI from owned properties was $11,461 thousand for the three months ended March 31, 2026 compared to $11,536 thousand for the three months ended March 31, 2025, a decrease of $75 thousand or 0.7%.
- Same Store NOI was $11,461 thousand for the three months ended March 31, 2026 compared to $11,536 thousand for the three months ended March 31, 2025, a decrease of $75 thousand or 0.7%.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -0.3% | Property NOI from owned properties was $11,461 thousand for the three months ended March 31, 2026 compared to $11,536 thousand for the… |