TPG Credit Completes Secured Credit Facility for Franklin Street Properties

Paul, Weiss advised an affiliate of TPG Credit on a $320 million secured credit facility to refinance all of Franklin Street Properties Corp.’s outstanding debt. FSP is a Massachusetts-based real estate investment trust focused on office properties across the U.S. Under the agreement, the loans that comprise the facility are collateralized by a first priority lien on substantially all of FSP’s assets and are scheduled to mature in February 2029, subject to a potential one-year extension.

The Paul, Weiss team was led by partners Lauren Bilzin, Sung Pak and Salvatore Gogliormella, and included tax counsel Samir Kurani.