Powell Anderson Capital discloses 6.8% stake in Franklin Street Properties and says the shares are undervalued

Funds managed by Powell Anderson Capital Partners LLC have disclosed a holding of 7,057,763 common shares in Franklin Street Properties Corp. (CIK 1031316), equal to 6.8% of the class, in a Schedule 13D filed with the SEC on 14 October 2026. The date of the event is given as 6 October 2026.

Of those shares, PACP Acadia LLC holds 6,119,400 (5.9%) and Powell Anderson Capital LP holds 938,363 (0.9%). The firm's managing member holds a further 10,000 shares personally, bringing the group total to 7,067,763. Percentages are based on 104,011,708 shares outstanding, as reported in the company's Form 10-Q filed on 28 July 2026. (Schedule 13D, cover pages, filed 14 October 2026)

The filing gives the aggregate purchase cost as approximately $2,900,227, excluding brokerage commissions. PACP Acadia was funded by cash capital contributions from its investors and Powell Anderson Capital LP used working capital. (Schedule 13D, Item 3)

The filers state that they bought the shares because they believed them to be undervalued and an attractive investment opportunity. They say they may communicate with management and the board, and may make recommendations or proposals to the company concerning changes to its capitalisation. They may also buy or sell shares or hedge their position. (Schedule 13D, Item 4)

The exhibits are a joint filing agreement dated 14 October 2026 and a schedule of trades over the previous 60 days. No letter or proposal to the company is attached. (Schedule 13D, Exhibits 99.1 and 99.2)

The filings do not state what changes to the company's capitalisation the filers may propose. Loro has made no approach to the company. Figures are as reported in Powell Anderson Capital's SEC filings.