Franklin Street Properties Corp.

Good morning and welcome to the Franklin Street Properties Corporation second quarter 2021 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Scott Carter, General Counsel. Please go ahead.

Good morning and welcome to the Franklin Street Properties second quarter 2021 earnings call. Joining me this morning are George Carter, our Chief Executive Officer, John DeMeritt, our Chief Financial Officer, Jeff Carter, our President and Chief Investment Officer, and John Donahue, President of FSP Property Management. Also joining me this morning are Toby Daly and Will Friend, both Executive Vice Presidents of FSP Property Management. Please note that various remarks that we may make about future expectations, plans, and prospects for the company may constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factors section of our annual report on Form 10-K for the year ended December 31, 2020, which is on file with the SEC. In addition, these forward-looking statements represent the company's expectations only as of today, August 4, 2021. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. Any forward-looking statements should not be relied upon as representing the company's estimates or views as of any date subsequent to today. At times during this call, we may refer to funds from operations or FFO. Reconciliations of FFO and other non-GAAP financial measures to GAAP net income are contained in yesterday's press release. which is available in the investor relations section of our website at www.fspreit.com. Now I'll turn the call over to John DeMeritt. John?

Thank you, Scott. Good morning, everyone. I'm going to give a very brief overview of our second quarter results. Afterward, I'll pass the call to George for his comments. As a reminder, our comments today will refer to our earnings release supplemental package and 10Q which as Scott mentioned, can be found on our website. We reported funds from operations or FFO 14.7 million or 14 cents per share for the second quarter of 21. During Q2, we completed the sale of four properties and used the proceeds to repay our 2021 debt maturities and the drawing balance on our revolver. We incurred about 2 million in costs to complete the debt repayment which was primarily a payment to break interest rate swaps on the debt we repaid. The amount paid is roughly equal to what we would have paid on the swaps through their maturity on November 30th of 21. So these expenses were accelerated into Q2 and lowered our FFO per share by about two cents a share. Turning to our balance sheet at June 30, 21, we had a total of 765 million of unsecured debt outstanding and no amounts drawn on our revolver. At quarter end, between cash on hand and availability on our line, we had total liquidity of about $624.2 million. As a reminder, all our debt is unsecured and we have no remaining debt maturities this year. Although our revolver matures in early 2022, we can extend that maturity for a year. Our debt is at fixed rates other than the revolver, which is at a floating rate on amounts drawn. With that, I'll turn the call over to George. George.