you, unlock John. our shareholders share public everyone. value for morning, Thank focused is working current in is on we our being Good reflected to believe that FSP not accurately price.
on As referenced, centered efforts George are our areas. key X action
potential; properties renew to judged First, continued space through sale their existing have of efforts to we the intermediate-term lease second, to our select and short vacant customers. met and tenant that
FSP December sales XX% and principally in has will completed FSP time to proceeds More of corporate $XXX reduce dispositions million has our approximately over that debt continue XXXX, most by direct reduced indebtedness. office to specifically, and since period. approximately
continues seeing sized and and sales particular, difficult At the marketplace conditions a portfolios, weak environment, risk, more the macro more to single with larger smaller office of office property as in to office challenged transactions. a for greater opposed demand bulk experience execution level, is properties, sale property moderately financings including and
of large equity rates, to of This the stress reliably purchases. within relatedly to environment procure debt is interest in and/or when capital the currently real sector, with reduced and lending constrained the rising closing estate ability property to combined which, has investors part facilitate due the banking needed to worries over
office to several to candidates. potential seek FSP, well-located Investors regard real individual here on sales with continue property buyers at seeing property and high-quality properties. interest we prospective sales are Specifically, from
equity buyers and/or are past. procure potential than of to there there buyers overall the However, capital needed And to transaction the challenges face are time terms fewer debt ability the that facilitate described, in completion. of and as in many their amount needed
completed sale located March the During XXXX, of Grove in the Northwest first FSP known quarter of as Village, property our XX, on Illinois. Elk Point,
created XXX% the tenant proceeds. of recently for with time property $XX,XXX,XXX reported, for at the having total As was property an leased gross exercised sold their termination lease, a large the major vacancy. would sales which pending early sale, right in have This
while to well per metrics, completed specific both approximately on GAAP average foot. a cap disclose rate as to the disposition in program cash foot And square of basis $XXX are in-place X.X% as approximately reflects unable square an price aggregate, average weighted our property of and date per we sales
interest at pay and disposition point reasons provide competitive to to property will That not potential market key said, debt market be keep to of with to shareholders, For asset continue each unlock will guidance. a we FSP, we in the or And as our any remain down continue that information we the that sales quarter specific we strive shareholders. occurs. value focal progresses for updated our disposition believe
you listening up call thank any conference now our at for to call that, to with open we'd time, earnings Elissa? questions. like for we this today. the And And
