
Franklin Street Properties Corp. (the &#34;Company&#34;, &#34;FSP&#34;, &#34;our&#34; or &#34;we&#34;) (NYSE:FSP), a real estate investment trust (REIT), announced today that it has expanded its ongoing strategic alternatives review process to include

<p xmlns="http://www.w3.org/1999/xhtml">
Franklin Street Properties Corp. (the "Company", "FSP", "our" or "we") (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FSP">FSP</a>), a real estate investment trust (REIT), announced today that it has expanded its ongoing strategic alternatives review process to include BofA Securities and Jones Lang LaSalle Securities, LLC ("JLL Securities") as co-financial advisors in an expansion of its ongoing strategic review process.

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The expanded process is designed to enhance the Company's ability to evaluate and execute a broad range of potential transactions. BofA Securities and JLL Securities bring complementary capabilities across capital markets, mergers and acquisitions, and asset level execution, positioning the Company to assess opportunities at both the portfolio and individual asset levels.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Company intends to continue evaluating a range of strategic alternatives with the objective of maximizing value for shareholders. These alternatives may include, among other things, a sale or merger of the Company, sales of individual assets or groups of assets, joint ventures, or other capital structure or strategic transactions.

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George J. Carter, Chairman and Chief Executive Officer, commented, "We believe that having our advisory team include both BofA Securities and JLL Securities strengthens our ability to evaluate and pursue a wide range of potential outcomes. Each firm brings distinct expertise and market perspective, and together they provide the breadth and depth needed to effectively navigate the current environment and identify opportunities to enhance shareholder value."

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There can be no assurance that the strategic alternatives process will result in any transaction or outcome. The Company does not intend to disclose further developments prior to its Board of Directors having approved a specific course of action or otherwise determining that disclosure is appropriate or required.

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<b xmlns="http://www.w3.org/1999/xhtml">About Franklin Street Properties Corp.</b>

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Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP is focused on long-term growth and appreciation. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.franklinstreetproperties.com&amp;esheet=54521711&amp;newsitemid=20260423339788&amp;lan=en-US&amp;anchor=www.franklinstreetproperties.com&amp;index=1&amp;md5=98e390b5e697226ef568f20b806daac2" shape="rect">www.franklinstreetproperties.com</a>.

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<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

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Statements made in this press release that state FSP's or management's intentions, beliefs, expectations, or predictions for the future may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may also contain forward-looking statements, such as those relating to potential strategic alternatives, that are based on current judgments and current knowledge of management, and that are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Investors are cautioned that our forward-looking statements involve risks and uncertainty, including without limitation, as a result of adverse changes in general economic or local market conditions, including as a result of the long-term effects of the COVID-19 pandemic, wars, terrorist attacks or other acts of violence, which may negatively affect the markets in which we and our tenants operate, impacts of changes in tariffs that the United States and other countries have announced or implemented, as well as any additional new tariffs, trade restrictions or export regulations that may be implemented or reversed in the future, inflation rates, interest rates, disruptions in the debt markets, economic conditions in the markets in which we own properties, risks of a lessening of demand for the types of real estate owned by us, adverse changes in energy prices, which if sustained, could negatively impact occupancy and rental rates in the markets in which we own properties, including energy-influenced markets such as Dallas, Denver and Houston, expectations for future potential property dispositions, expectations for future potential leasing activity, changes in government regulations and regulatory uncertainty, uncertainty about governmental fiscal policy, geopolitical events and expenditures that cannot be anticipated, such as utility rate and usage increases, delays in construction schedules, unanticipated increases in construction costs, unanticipated repairs, increases in the level of general and administrative costs as a percentage of revenues as revenues decrease as a result of property dispositions, additional staffing, insurance increases and real estate tax valuation reassessments. See Part I, Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We will not update any of the forward-looking statements after the date of this press release to conform them to actual results or to changes in our expectations that occur after such date, other than as required by law.

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Source: Franklin Street Properties Corp.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260423339788r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260423339788/en/" rel="nofollow">https://www.businesswire.com/news/home/20260423339788/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
For Franklin Street Properties Corp.
<br xmlns="http://www.w3.org/1999/xhtml"></br>Georgia Touma, 877-686-9496

</p>

Franklin Street Properties Corp. Announces Expansion of Strategic Alternatives Process

FSP Expands Strategic Review Process to Maximize Shareholder Value

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Franklin Street Properties Corp. (the &amp;#34;Company&amp;#34;, &amp;#34;FSP&amp;#34;, &amp;#34;our&amp;#34; or &amp;#34;we&amp;#34;) (NYSE:FSP), a real estate investment trust (REIT), announced today that it has expanded its ongoing strategic alternatives review process to include</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Franklin Street Properties (FSP) has expanded its strategic alternatives review process with BofA Securities and JLL Securities, aiming to maximize shareholder value. This move could facilitate various transactions, including potential sales, mergers, or joint ventures, but does not guarantee an outcome.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FSP expands its strategic alternatives review with BofA and JLL Securities.</li><li>The move aims to enhance evaluation of potential transactions.</li><li>FSP might consider asset sales, mergers, or joint ventures.</li><li>CEO believes advisory team will strengthen opportunities for shareholder value.</li><li>No guarantees of outcomes from the ongoing strategic review process.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>BofA Securities (BAC)</strong>: Brings capital markets expertise to FSP&#039;s review process.</li><li><strong>Jones Lang LaSalle Securities (JLL)</strong>: Provides additional market perspective and transactional capability.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it involves FSP&#039;s strategic review process to explore alternatives. Such actions may significantly influence the company&#039;s future operational strategy and financial performance.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Involvement of BofA and JLL may increase market interest in FSP&#039;s assets.</li><li>Potential asset sales could impact future revenue and valuation.</li><li>Strategic partnerships might lead to improved operational efficiencies.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>FSP is a real estate investment trust based in Wakefield, Massachusetts.</li><li>The company focuses on office properties in U.S. Sunbelt and Mountain West.</li><li>The strategic review process aims to maximize shareholder value.</li><li>BofA and JLL serve as co-financial advisors.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Consider buying FSP for potential gains from future strategic transactions within 12 months.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Franklin Street Properties Corp. (the "Company", "FSP", "our" or "we") (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FSP">FSP</a>), a real estate investment trust (REIT), announced today that it has expanded its ongoing strategic alternatives review process to include BofA Securities and Jones Lang LaSalle Securities, LLC ("JLL Securities") as co-financial advisors in an expansion of its ongoing strategic review process.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The expanded process is designed to enhance the Company's ability to evaluate and execute a broad range of potential transactions. BofA Securities and JLL Securities bring complementary capabilities across capital markets, mergers and acquisitions, and asset level execution, positioning the Company to assess opportunities at both the portfolio and individual asset levels.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Company intends to continue evaluating a range of strategic alternatives with the objective of maximizing value for shareholders. These alternatives may include, among other things, a sale or merger of the Company, sales of individual assets or groups of assets, joint ventures, or other capital structure or strategic transactions.

</p><p xmlns="http://www.w3.org/1999/xhtml">
George J. Carter, Chairman and Chief Executive Officer, commented, "We believe that having our advisory team include both BofA Securities and JLL Securities strengthens our ability to evaluate and pursue a wide range of potential outcomes. Each firm brings distinct expertise and market perspective, and together they provide the breadth and depth needed to effectively navigate the current environment and identify opportunities to enhance shareholder value."

</p><p xmlns="http://www.w3.org/1999/xhtml">
There can be no assurance that the strategic alternatives process will result in any transaction or outcome. The Company does not intend to disclose further developments prior to its Board of Directors having approved a specific course of action or otherwise determining that disclosure is appropriate or required.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Franklin Street Properties Corp.</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP is focused on long-term growth and appreciation. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.franklinstreetproperties.com&amp;esheet=54521711&amp;newsitemid=20260423339788&amp;lan=en-US&amp;anchor=www.franklinstreetproperties.com&amp;index=1&amp;md5=98e390b5e697226ef568f20b806daac2" shape="rect">www.franklinstreetproperties.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Statements made in this press release that state FSP's or management's intentions, beliefs, expectations, or predictions for the future may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may also contain forward-looking statements, such as those relating to potential strategic alternatives, that are based on current judgments and current knowledge of management, and that are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Investors are cautioned that our forward-looking statements involve risks and uncertainty, including without limitation, as a result of adverse changes in general economic or local market conditions, including as a result of the long-term effects of the COVID-19 pandemic, wars, terrorist attacks or other acts of violence, which may negatively affect the markets in which we and our tenants operate, impacts of changes in tariffs that the United States and other countries have announced or implemented, as well as any additional new tariffs, trade restrictions or export regulations that may be implemented or reversed in the future, inflation rates, interest rates, disruptions in the debt markets, economic conditions in the markets in which we own properties, risks of a lessening of demand for the types of real estate owned by us, adverse changes in energy prices, which if sustained, could negatively impact occupancy and rental rates in the markets in which we own properties, including energy-influenced markets such as Dallas, Denver and Houston, expectations for future potential property dispositions, expectations for future potential leasing activity, changes in government regulations and regulatory uncertainty, uncertainty about governmental fiscal policy, geopolitical events and expenditures that cannot be anticipated, such as utility rate and usage increases, delays in construction schedules, unanticipated increases in construction costs, unanticipated repairs, increases in the level of general and administrative costs as a percentage of revenues as revenues decrease as a result of property dispositions, additional staffing, insurance increases and real estate tax valuation reassessments. See Part I, Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We will not update any of the forward-looking statements after the date of this press release to conform them to actual results or to changes in our expectations that occur after such date, other than as required by law.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Source: Franklin Street Properties Corp.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260423339788r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260423339788/en/" rel="nofollow">https://www.businesswire.com/news/home/20260423339788/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
For Franklin Street Properties Corp.
<br xmlns="http://www.w3.org/1999/xhtml"></br>Georgia Touma, 877-686-9496

</p>

Franklin Street Properties (FSP) has expanded its strategic alternatives review process with BofA Securities and JLL Securities, aiming to maximize shareholder value. This move could facilitate various transactions, including potential sales, mergers, or joint ventures, but does not guarantee an outcome.

Franklin Street Properties Corp. Announces Expansion of Strategic Alternatives Process

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News