Franklin Street Properties adds BofA Securities, JLL as advisors as it considers strategic alternatives

Franklin Street Properties Corp. (NYSE MKT: FSP) announced it has expanded its strategic alternatives review process by adding BofA Securities and Jones Lang LaSalle Securities as co-financial advisors.

The real estate investment trust, based in Wakefield, Massachusetts, said the expanded advisory team is designed to enhance its ability to evaluate and execute potential transactions across capital markets, mergers and acquisitions, and asset-level execution.

The company continues to evaluate strategic alternatives that may include a sale or merger of the company, sales of individual assets or groups of assets, joint ventures, or other capital structure or strategic transactions, according to the press release.

"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," said George J. Carter, chairman and chief executive officer.

Franklin Street Properties focuses on infill and central business district office properties in the U.S. Sunbelt and Mountain West regions, as well as select opportunistic markets.

The company stated there is no assurance the strategic alternatives process will result in any transaction. It does not intend to disclose further developments until its board of directors approves a specific course of action or determines disclosure is appropriate.

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