Franklin Street Properties Corp., an office-focused real estate investment trust based in Wakefield, MA, has expanded the group of financial institutions supporting its ongoing strategic alternatives review. The company has engaged BofA Securities and Jones Lang LaSalle Securities, LLC to serve as co-financial advisors as it continues to assess options for the business.
The REIT originally launched its strategic review in May 2025 and is maintaining that process as market conditions evolve. According to the company, the mandate for the advisors is broad, with the review centered on identifying approaches that could maximize value for Franklin Street’s shareholders.
Franklin Street indicated that the range of possibilities under consideration includes a potential sale or merger of the company. Other options on the table are sales of individual properties or portfolios of assets, the formation of joint ventures, and various capital structure or strategic transactions. No specific transaction has been announced, and the company did not outline a timetable for concluding the review.
Chairman and CEO George J. Carter said the addition of BofA Securities and JLL Securities is intended to deepen the firm’s access to capital markets and advisory capabilities as it evaluates potential paths forward. He emphasized that each advisor contributes distinct expertise and market perspective, which together are expected to improve the company’s ability to navigate current conditions in the office sector and public REIT markets.
Carter added that the enhanced advisory team is designed to help Franklin Street thoroughly analyze multiple potential outcomes and identify options that may enhance shareholder value. The company did not provide further details on specific scenarios under active consideration, nor did it disclose any terms associated with the advisory engagements.
An image released with the announcement highlights Franklin Street’s PwC Plaza in Minneapolis, reflecting one of the office properties within its portfolio. However, the company did not reference any particular asset-level transactions tied to the ongoing review in its statement.
At this stage, Franklin Street continues to signal openness to a range of corporate and asset-level strategies while it works with its advisors. Market participants will likely look to future updates from the REIT for more clarity on whether the process results in a whole-company transaction, targeted asset sales, or other capital markets actions.
