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STERLING, VA-Wakefield, MA-based Franklin Street Properties Corp. has acquired two buildings here for $18.5 million. Fully leased, these ten-year old office/flex buildings total 135,000 square feet. Tenants are using them for storage and light assembly/manufacturing. Franklin did not return a call to GlobeSt.com in time for publication.

Franklin, which has an office and industrial footprint in the Mid-Atlantic as well as the Mid-West, has been increasing its acquisitions this year. Earlier this month it also acquired a four-story office building in Maryland Heights, MO., for $19.75 million. Completed in 2008, the 127,000-square-foot office building is 100% leased.

Franklin is likely funding at least part of these acquisitions with a $75-million unsecured term loan facility it received from RBS Citizens, Bank of America and Wachovia in October. The term loan facility has an initial three-year term that matures on October 15, 2011, with the option to extend the initial maturity date for up to two successive one-year periods–or until October 15, 2013 if both extensions are exercised.

The interest rate for the initial three-year term of the term loan facility is fixed at 5.84% per annum pursuant to an interest rate swap agreement. The proceeds of the term loan facility will be used to pay down a portion of the outstanding balance on Franklin’s existing $250- million revolving line of credit facility–the remainder will be used for property acquisitions, it said at the time.

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