Currently held by separate Franklin Street-sponsored REITs, theywere acquired by merging five REITS into wholly owned subsidiariesof FSP. The five REITs were identified as FSP Willow Bend OfficeCenter Corp., FSP Innsbrook Corp., FSP 380 Interlocken Corp., FSPBlue Lagoon Drive Corp. and FSP Eldridge Green Corp. Thetransaction required a majority vote by stockholders in each of theREITs. Company officials did not return calls for comment placed tothe firm by GlobeSt.com.

According to the firm's website, among FSP's latest acquisitionsare a 212,619-sf office at 5505 Blue Lagoon Dr. in Miami; a297,789-sf building known as Innsbrook on Cox Road in Glen Allen,VA; and a 240,184-sf property at 380 Interlocken Crescent Blvd. inBroomfield, CO. The other two properties are Willow Bend OfficeCenter, a 116,603-sf office center at 2740 N. Dallas Parkway inPlano, TX and Eldridge Green, which contains 248,299 sf, at 1293Eldridge Parkway in Houston.

Consideration for the transaction consisted primarily of sharesof FSP common stock, which were valued at $21 per share on Monday.Franklin Street Properties' portfolio consists primarily of officebuildings located in suburban markets throughout the country. InMassachusetts, the REIT owns the North Andover Office Park, a91,956-sf building at 451 Andover St., a 188,000-sf property knownas One Technology Dr. in Peabody and a 104,711-sf office at 10Lyberty Way in Westford. It also has holdings in 14 otherstates.