REIT sells Louisiana apartments

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Franklin Street Properties Corp. has sold its 264-unit luxury apartment property called "Mansions in the Park" in Baton Rouge, La. The value of the transaction was $22.6 million. The buyer's identity was not disclosed. Proceeds of the sale will be used to "equitize" a 205,059-square-foot, two-building suburban office property in Indianapolis, which FSP purchased in July 2005. Wakefield, Mass.-based Franklin Street Properties Corp. is a real estate investment trust. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....