Franklin Street Properties Corp.

Good day and welcome to the Franklin Street Properties third 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 touch-tone phone. To withdraw your question, please press star then two. Please note, today's event is being recorded. And now I'd like to turn the conference over to Scott Carter, General Counsel. Please go ahead, sir.

Good morning, and welcome to the Franklin Street Properties Third Quarter 2021 Earnings Conference 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, November 9, 2021. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. Any forward-looking statement 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?

John DeMeritt Thank you, Scott, and good morning, everyone. I'm going to give a very brief overview of our third quarter results. And afterward, I'll pass the call to George for his comments. And as a reminder, our comments today will refer to our earnings release supplemental package in 10Q, which as Scott mentioned, can be found on our website. We reported funds from operations or FFO of $14.8 million or 14 cents per share for the third quarter of 21. During Q3, we completed the sale of three properties at a net gain of 8.6 million and used the proceeds to repay $90 million of our 2023 debt maturity. In October, we sold another property at a gain of about $86.8 million and used $215 million of the proceeds to repay $15 million against the drawn balance of our revolver and $200 million against our 2023 debt maturity. As of today, we have $475 million of debt outstanding down from $1 billion outstanding a year ago. At quarter end, between cash on hand and availability on our line, we had total liquidity of about $609.7 million. And as a reminder, all of our debt is unsecured. Although our revolver matures in 2022, we can extend that maturity for a year. And with that, I'll turn the call over to George. George?