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Franklin Street Properties Q2 Net Income Falls

Aug 2, 2012 | Reprints | Unlock Link | Print

Wakefield-based Franklin Street Properties Corp., a real estate investment firm, posted second-quarter net income of $5.4 million, down $4.9 million from the same period last year.

The company said the decline was primarily because of a $3.3 million contribution by its investment bank in the second quarter of 2011 and a gain on the sale of a property in Maryland in June 2011, which boosted last year’s second quarter earnings by $2.3 million.

This year’s second quarter earnings decline was partially offset by real estate investments in the past year, the company said in a statement.

Commercial & Industrial