REIT sells Louisiana apartments

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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