FSP

EX-99.1

2 fsp-ex99d1.htm

EX-99.1

Exhibit 99.1

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PRESS RELEASE

Franklin Street Properties Corp.

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401 Edgewater Place ● Suite 200 ● Wakefield, Massachusetts 01880 ● (781) 557-1300 ● www.fspreit.com

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Contact: Georgia Touma (877) 686-9496

For Immediate Release

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Franklin Street Properties Corp. Announces

Third Quarter 2026 Results

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Wakefield, MA— October 27, 2026—Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American:  FSP), a real estate investment trust (REIT), announced its results for the third quarter ended September 30, 2026.

George J. Carter, Chairman and Chief Executive Officer, commented as follows:

“As we continue to move through 2026, our focus remains squarely on trying to maximize shareholder value through our expanded evaluation of strategic alternatives, proactive asset management, expense management, and efforts to improve leasing and occupancy.

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During the quarter, we endeavored to make progress on several important strategic initiatives, while maintaining financial and strategic flexibility.

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Importantly, our recent refinancing of our outstanding debt has provided the Company with increased flexibility, allowing us to pursue strategic initiatives in a disciplined and thoughtful manner. This position allows us to act more opportunistically as market conditions evolve and as opportunities emerge.

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On July 8, 2026, we sold our Greenwood Plaza property located in Englewood, Colorado to University of Colorado Health for a gross selling price of approximately $19.4 million.  In addition, on July 8, 2026, we used approximately $8.5 million of the net proceeds from the disposition for the repayment of debt, including interest and fees.  We believe that this disposition reflects disciplined execution, targeted owner-user marketing, and continued progress on our broader strategic objectives.

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During the third quarter and into October, the Company continued its expanded strategic review process with BofA Securities and JLL Securities serving as our co-advisors. The process has included extensive market outreach, multiple rounds of price discovery and evaluation of potential Company, portfolio, subportfolio and individual asset transactions. However, office investment demand and liquidity remain uneven nationally and are challenged in several of our markets.

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Based on the recommendations of our co-advisors and the results of the process to date, the Company has identified a number of individual asset and subportfolio sale opportunities that it intends to actively pursue in the fourth quarter. The Company will continue working with its co-advisors and prospective purchasers regarding these potential opportunities and any other potential transactions that may arise. Completion of any such sales or transactions will depend on reaching acceptable final pricing terms and counterparties completing due diligence processes and finalizing financing arrangements.

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Operationally, we remain focused on improving occupancy, extending lease duration, prudently managing operating expenses, and allocating capital where we believe it can generate the greatest long-term value for our shareholders.  Notably, we were successful in reducing general and administrative expenses for the nine months ended September 30, 2026 by $2.6 million compared to the nine months ended September 30, 2025 primarily as a result of lower personnel costs.

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We also continue to prioritize leasing and asset management initiatives across the portfolio. These efforts remain important because changes in occupancy, lease duration, capital requirements and tenant quality can materially affect the value and marketability of individual assets.”

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Financial Highlights

●GAAP net loss was $9.1 million and $35.2 million, or $0.09 and $0.34 per basic and diluted share for the three and nine months ended September 30, 2026, respectively.

●Funds From Operations (FFO) was $1.4 million and $4.2 million, or $0.01 and $0.04 per basic and diluted share, for the three and nine months ended September 30, 2026, respectively.

●General and administrative expenses for the nine months ended September 30, 2026, were $2.6 million lower compared to the nine months ended September 30, 2025 as a result of lower personnel costs.

●On July 8, 2026, we sold our property Greenwood Plaza property located in Englewood, Colorado for a gross selling price of approximately $19.4 million and used proceeds to repay debt of approximately $8.5 million, including interest and fees. We retained cash from the sale of approximately $8.9 million.

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Leasing Highlights

●During the nine months ended September 30, 2026, we leased approximately 226,000 square feet of space of which approximately 163,000 were from renewals and expansions of existing tenants.

●Our directly-owned real estate portfolio of 13 properties, totaling approximately 4.6 million square feet, was approximately 66.2% leased as of S

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