Franklin Street Properties (FSP) has secured a total of $500 million in a new credit facility. The loan amount includes an accordion feature that allows for up to $100 million of additional borrowing capacity. As part of the deal, the Massachusetts-based investment firm’s $250 million credit facility and $75 million term loan will be repaid from the proceeds of the new loan that matures on Feb. 22, 2014. FSP was represented by Wilmer Cutler Pickering Hale and Dorr and Bank of America, the administrative agent for the new revolver was represented by Goulston & Storrs.
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