Franklin Street Properties sells two apartment properties for $40m

Franklin Street Properties Corp. has completed he sale of Meadow Point and 4807 Stonecroft in Chantilly, Va., for $40 million. The new owners were not disclosed.

“We are pleased to announce the completion of the sale of the Properties. We have now completed dispositions for aggregate gross proceeds of approximately $600 million to date in 2021. As previously communicated, we intend to use the proceeds from dispositions for debt reduction, repurchases of our common stock, any special dividends required to meet REIT requirements, and other general corporate purposes,” said George J. Carter, chairman and CEO of FSP.