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8/2/2022
Good morning. Thank you for attending today's Franklin Street Properties Corporation Q2 2022 earnings call. My name is Megan and I'll be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you would like to ask a question, please press star 1 on your telephone keypad. I would now like to pass the conference over to our host, Scott Carter, General Counsel. Scott, please go ahead.
Good morning and welcome to the Franklin Street Properties second quarter 2022 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 factor section of our annual report on Form 10-K for the year ended December 31, 2021, as updated in our quarterly reports on Form 10-Q, which are on file with the SEC. In addition, these forward-looking statements represent the company's expectations only as of today, August 3, 2022. 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, and good morning, everyone. I'm going to give you 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 10-Q, which, as Scott mentioned, can be found on our website. We reported funds from operations or FFO of about 10.3 million or 10 cents per share for the second quarter of 22 and we reported a gap net loss of about 9.1 million or 9 cents per share for the second quarter of 22. At June 30, 22 we had 530 million of debt outstanding and our debt service coverage ratio for the quarter was 2.81 times. As of June 30th, 22, we had liquidity of about $187.2 million between availability on our revolver and cash on hand. As a reminder, all of our debt remains unsecured. With that, I'll turn the call over to George. George?
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