Wakefield-based Franklin Street Properties Corp. (FSP), an investment firm specializing in real estate, has reported net income of $6.6 million for the fourth-quarter, compared to $9.4 million in the same period in 2007 – a 29.8 percent decrease.

For 2008, the company reported net income of $32 million, compared to $61.1 million in 2007, a 47.6 percent decrease.

"As the capital markets and U.S. economy work through the current recession, and financial/credit crisis, we will continue to pursue additional commercial property investment opportunities," said George J. Carter, president and CEO. "It will be FSP’s objective to continue to grow our property portfolio and rental income business during this period of liquidity-constrained capital markets by using our balance sheet strength to help finance and fund new acquisitions."