Exhibit 99.1

                [LETTERHEAD OF FRANKLIN STREET PROPERTIES CORP.]


To      :   Franklin Street Properties Corp. Shareholders

From    :   George J. Carter, CEO/Chairman

Date    :   June 6, 2003

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I am pleased to inform all shareholders in Franklin Street Properties Corp.
("FSP") that the proposed merger between FSP and thirteen single-asset real
estate investment trusts has been completed, effective June 1, 2003. The vote in
favor of the merger from all parties was overwhelming (over 99% of the total
vote received was in favor of the merger). The completion of this merger
effectively doubles the size of FSP. Management strongly believes that FSP now,
more than ever, offers its shareholders the potential of expanded opportunities
and increased future share value. On behalf of the Board of Directors and the
FSP employees, I welcome the new shareholders to the FSP family.

I am also informing all FSP shareholders via this communication that, at a
special Board of Directors meeting held on Friday, May 30, 2003, the Board, by
unanimous vote, authorized the management of FSP to research the feasibility of
listing FSP's common stock on a major U.S. exchange, such as the New York Stock
Exchange (NYSE), the American Stock Exchange (AMEX) or the NASDAQ electronic
trading market. Such feasibility research will incorporate a potential "target"
time frame for listing, aimed at the second half of 2004.

When, and, or if FSP's stock is listed on an exchange will depend on a number of
things, many of which are beyond the control of FSP. Considerations include, but
are not limited to:

o     the performance of the stock market in general and real estate/REIT stocks
      in particular

o     the health of the broader commercial real estate markets, including
      occupancy and rent trends

o     the performance of FSP and its projected future earnings trends


FSP has elected to file this written communication to all shareholders with the
Securities and Exchange Commission on Form 8-K pursuant to Regulation FD.