FSP Overview

Strategic Review Update: Franklin Street Properties Corp. (FSP) is currently reviewing strategic alternatives to maximize shareholder value, which may include a sale of the company, asset sales, or refinancing existing debt, with BofA Securities as their financial advisor.

Share Price Concerns: CEO George J. Carter acknowledged a recent decline in FSP's share price but stated there is no specific reason for it, emphasizing that the strategic review process is ongoing.

Refinancing Negotiations: FSP is actively negotiating with a potential lender to refinance its existing indebtedness, although no assurances can be made regarding the outcome or timeline of this process.

Forward-Looking Statements Caution: The press release includes forward-looking statements that involve risks and uncertainties, cautioning investors against placing undue reliance on these projections due to potential adverse economic conditions and other factors.

Financial Performance: Franklin Street Properties Corp. reported a GAAP net loss of $8.3 million for Q3 2025, with Funds From Operations (FFO) of $2.3 million. The company continues to face challenges in the office sector but has seen slight improvements in leasing activity and a decrease in national office vacancy rates.

Leasing Activity: The company leased approximately 274,000 square feet in the first nine months of 2025, with a notable increase in tenant activity. However, the overall leased percentage of their portfolio decreased to 68.9% from 70.3% at the end of 2024 due to lease expirations.

Strategic Review: FSP's Board of Directors is conducting a strategic review with BofA Securities to explore options for maximizing shareholder value, including potential asset sales and refinancing, though no timeline for completion has been provided.

Dividend Announcement: A quarterly cash dividend of $0.01 per share was declared, set to be paid on November 6, 2025, to stockholders of record as of October 17, 2025.