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Boston Properties, Inc. (BXP), established in 1970 by Mortimer B. Zuckerman and Edward H. Linde, is a self-administered and self-managed real estate investment trust (REIT). The company is renowned as one of the largest owners, managers, and developers of premium office properties in the United States. With its headquarters in Boston, the company maintains significant operational presence in key markets including Boston, New York, San Francisco, and Washington, D.C.
Listed as a public company since June 1997, Boston Properties has built an impressive portfolio of over 190 properties, encompassing approximately 53 million rentable square feet. The company's properties are primarily first-class office spaces, but also include a hotel, two residential properties, and five retail properties. These assets are strategically located in central business districts (CBDs) and suburban office centers across major cities such as New York, Boston, San Francisco, Los Angeles, Seattle, and the Washington, D.C. region.
Boston Properties is distinguished by its in-house building management expertise and a strong reputation for responsiveness to tenants' needs. The company’s full-service regional offices play a vital role in acquiring, developing, and managing properties, ensuring high-quality service and maintenance. The company's development track record includes premium CBD office buildings and suburban office centers, contributing to its high standing in the real estate market.
Recent achievements and current projects highlight Boston Properties' commitment to sustainability and innovative design. The company continuously seeks opportunities to enhance its property portfolio and further strengthen its market position through strategic partnerships and developments.
Financially, Boston Properties maintains a robust balance sheet and a disciplined approach to capital allocation. This financial stability supports its ongoing growth initiatives and provides a strong foundation for future opportunities.
Stay informed with the latest updates and relevant information about Boston Properties’ performance, events, and developments by visiting StockTitan regularly.
BXP (NYSE: BXP), the largest publicly traded developer and manager of premier workplaces in the United States, has announced the 2024 tax treatment of its distributions on common stock. The company declared quarterly distributions of $0.98 per share throughout 2024, totaling $4.90 annually.
Of the total distributions, approximately 88.29% represents taxable ordinary dividends, 0.788% qualified dividends, and 10.92% return of capital. The December 29, 2023 distribution was split between tax years, with $0.710486 allocable to 2024, while the December 31, 2024 distribution will be entirely allocable to 2025.
BXP's portfolio encompasses 53.3 million square feet across 185 properties in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.
BXP (NYSE: BXP) has secured a significant 20-year lease renewal and expansion with KnitWell Group at 7 Times Square in New York City. The agreement covers approximately 246,000 square feet, comprising the existing 191,000 square foot premises plus an additional 55,000 square feet across two full floors.
The 1.25 million square foot tower, located in Midtown Manhattan, has recently undergone amenities enhancement, adding conferencing facilities, client lounge, and café services. The property's strategic location offers convenient access to transportation, restaurants, and Bryant Park.
The lease negotiation was facilitated by a CBRE team. This transaction reinforces BXP's position as the largest publicly traded developer and manager of premier workplaces in the United States, with a portfolio spanning 53.0 million square feet across 184 properties in six major markets.
BXP has completed the acquisition of 725 12th Street in Washington, DC for $34 million. The company plans to demolish and redevelop the 300,000 square foot property into a 320,000 square foot premier workplace. McDermott Will & Emery has signed a lease for 150,000 square feet, occupying the top five floors of the future building.
The property is strategically located in DC's Central Business District, three blocks from the White House and near Metro Center Station. The building will feature private terraces and outdoor spaces, with expected delivery in late 2028. BXP is currently negotiating with another client for the majority of the remaining space.
BXP, the largest publicly traded developer, owner, and manager of premier workplaces in the United States, has announced it will release its fourth quarter 2024 financial results on Tuesday, January 28, 2025, after NYSE trading closes.
The company will host a conference call and webcast on Wednesday, January 29, 2025, at 10:00 A.M. Eastern Time to discuss the financial results and provide a company update. Interested participants can register to receive dial-in numbers and a unique PIN to join the call and ask questions. A live audio-only webcast will be available in the Investors section of BXP's website, with a replay accessible for up to twelve months after the call.
BXP (NYSE: BXP), the largest publicly traded developer and manager of premier workplaces in the United States, has announced its regular quarterly cash dividend. The company will pay $0.98 per share for the period October 1, 2024 to December 31, 2024. The dividend is payable on January 30, 2025 to shareholders of record as of December 31, 2024.
BXP operates in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. As of September 30, 2024, the company's portfolio comprises 184 properties totaling 53.0 million square feet, including nine properties under construction/redevelopment.
BXP reported Q3 2024 financial results with revenue increasing 4.2% to $859.2 million compared to Q3 2023. Net income was $83.6 million ($0.53 EPS), compared to a loss of $111.8 million in Q3 2023. The company executed 74 leases totaling over 1.1 million square feet with a 7.2-year weighted-average term. Total portfolio occupancy was 87.0% and 89.1% leased. BXP provided full year 2024 guidance with EPS of $2.05-$2.07 and FFO of $7.09-$7.11 per diluted share. The company completed an $850 million senior notes offering and modified its Santa Monica Business Park mortgage loan.
BXP, the largest publicly traded developer, owner, and manager of premier workplaces in the United States, has announced its plans to release third quarter 2024 financial results on Tuesday, October 29, 2024, after the NYSE trading close. The company will host a conference call and webcast on Wednesday, October 30, 2024, at 10:00 A.M. Eastern Time to discuss the financial results and provide a company update.
Participants interested in joining the call and asking questions can register to receive dial-in numbers and a unique PIN. A live audio, listen-only webcast will also be available in the Investors section of BXP's website. A replay of the call will be accessible on the company's website for up to twelve months following the event.
BXP, Inc. (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, has declared a regular quarterly cash dividend of $0.98 per share of common stock. This dividend covers the period from July 1, 2024 to September 30, 2024, and will be payable on October 31, 2024 to shareholders of record as of the close of business on September 30, 2024.
BXP operates in six dynamic gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. As of June 30, 2024, BXP's portfolio included 186 properties, totaling 53.5 million square feet, with ten properties under construction or redevelopment. The company is organized as a real estate investment trust (REIT) and has been delivering premier workplaces for over 50 years.
BXP, the largest publicly traded developer and manager of premier workplaces in the US, has announced its participation in the BofA Securities 2024 Global Real Estate Conference. Douglas Linde, President, and Michael LaBelle, CFO, will represent BXP at the event, scheduled for September 10-12, 2024, at the Bank of America Tower in New York City.
BXP's presentation is set to begin at approximately 11:05 AM ET on Tuesday, September 10, 2024. The executives may discuss current operating conditions, trends, strategies, development activities, and other business matters affecting BXP. A live webcast of the presentation will be available on BXP's website in the Investors section, with a replay accessible shortly after the event.
BXP, the largest publicly traded developer and manager of premier workplaces in the US, has announced that its operating partnership, BPLP, will sell $850 million of 5.750% senior unsecured notes due 2035. The notes were priced at 99.961% of the principal amount, yielding 5.756% to maturity. The offering is expected to close on August 26, 2024, with estimated net proceeds of $841.9 million.
BPLP intends to use the proceeds to repay debt, potentially including the redemption of $850 million in 3.200% senior notes due 2025. This offering is expected to reduce BXP's third quarter and full year 2024 earnings per share by approximately $0.005 and $0.02, respectively, due to increased net interest expense.
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