WAKEFIELD, Mass., April 24 — Franklin Street Properties Corp. (the “Company”, “FSP”, “our” or “we”) (NYSE MKT: FSP), 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.
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.
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.
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.”
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.
