May. 14 at 10:35 AM
$FSP Franklin Street announces review of strategic alternatives
Franklin Street Properties announced that its Board of Directors has initiated a review of strategic alternatives in order to explore ways to maximize shareholder value. The review will include a range of potential strategic alternatives, including a sale of the company, a sale of assets, and a refinancing of existing indebtedness, among others.
"The Board of Directors is committed to maximizing value for all our shareholders," stated George Carter, Chairman and CEO. "We believe that FSP's share price does not adequately reflect the underlying value of our real estate, and, accordingly, we have undertaken this strategic review process to explore opportunities to eliminate this disconnect." FSP has engaged BofA Securities as its financial advisor in connection with the review.