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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.
Boston Properties (NYSE: BXP) reported Q2 2021 financial results, showing a net income of $111.7 million, or $0.71 per diluted share, down from $266.5 million, or $1.71 per diluted share in Q2 2020. Funds from Operations (FFO) increased to $268.6 million, or $1.72 per diluted share, surpassing guidance. The company signed 1.2 million square feet of leases, highlighting a notable performance in the leasing sector. New acquisitions include properties in Seattle and New York, totaling approximately $881.5 million. Guidance for Q3 2021 projects EPS of $1.28–$1.30 and FFO of $1.68–$1.70 per share.
Boston Properties (NYSE: BXP) has launched a co-investment program with CPP Investments and GIC for future office property acquisitions in the U.S., targeting $1 billion of equity. BXP and CPP Investments will each contribute $250 million, while GIC will provide $500 million, leveraging these funds for around $2 billion in investments. The partnership aims to capitalize on Class A office investment opportunities in major markets like Boston and New York. BXP will manage operations and provide exclusive investment opportunities over the next two years, adhering to a strategy of high-quality property investments.
Boston Properties (NYSE: BXP), the leading publicly-traded developer and owner of Class A office properties in the U.S., will release its second-quarter financial results on July 27, 2021, post-market close. A conference call to discuss these results and provide company updates is scheduled for July 28, 2021, at 10:00 A.M. ET. Investors can access the call by phone or through a live webcast available on the Investor Relations section of the company's website. Boston Properties owns a portfolio of 51.6 million square feet across 196 properties, with nine projects currently under construction.
Boston Properties (NYSE: BXP) announced Hilary Spann as the new Head of its New York office, effective January 1, 2022, succeeding John Powers, who is retiring after over eight years. Hilary Spann joins as Executive Vice President in September 2021, bringing over 20 years of real estate investment and development experience. Previously, she was Managing Director at CPP Investments, leading real estate strategies. Her extensive background includes completing 27 transactions worth $12 billion in Manhattan while at J.P. Morgan Asset Management.
Boston Properties (NYSE: BXP) has announced a quarterly cash dividend of $0.98 per share for the period from April 1, 2021, to June 30, 2021. This dividend will be payable on July 30, 2021, to shareholders of record by the close of business on June 30, 2021. Boston Properties is recognized as the largest publicly traded developer and owner of Class A office properties in the U.S., with a portfolio totaling 51.6 million square feet across 196 properties, including nine currently under construction or redevelopment.
Boston Properties (NYSE: BXP) has signed a significant 351,000 square-foot lease with a major entertainment company at its Colorado Center office campus in Los Angeles. The seven-year lease solidifies the tenant's expansion and commitment to a facility designed to foster innovation and creativity. Colorado Center, spanning 15 acres, offers modern amenities including outdoor collaborative spaces and fitness facilities. Boston Properties, the largest publicly traded office property company in the U.S., operates a diverse portfolio of 51.6 million square feet across key markets.
Boston Properties (NYSE: BXP) has acquired two lab properties at 153 & 211 Second Avenue in Waltham, Massachusetts for $100 million. The buildings, totaling 153,000 square feet, are fully leased to a leading pharmaceutical company and strategically located near BXP’s existing properties, enhancing their life sciences portfolio. This acquisition boosts BXP’s lab and office space in the Waltham/Lexington region to 4.9 million square feet, aligning with the growing demand in the biotech sector.
Boston Properties (NYSE: BXP) has signed a 140,000 square-foot expansion lease with a technology company at 3100 Ocean Park Blvd., within its Santa Monica Business Park. This creative campus spans 1.2 million square feet and is notable for attracting high-profile tech and entertainment firms, establishing itself as a leading workplace in West Los Angeles. The lease highlights the allure of the West Los Angeles submarket for creative talent, enhancing Boston Properties' portfolio of 51.6 million square feet across major U.S. markets.
Boston Properties (NYSE: BXP) has signed a 12-year lease for 98,000 square feet with Boston Consulting Group at Metropolitan Square, Washington, DC. BCG is relocating from Bethesda, MD, to accommodate growth in the DC metro area.
The $60 million renovation of Met Square, completed in 2020, includes modern amenities and collaborative spaces, enhancing the building's appeal. This lease reflects the strong demand for quality office spaces post-renovation, reinforcing BXP's position in the market.
Boston Properties, Inc. (NYSE: BXP) has announced a new 10-year lease with Roku, Inc. for 72,000 square feet at their Colorado Center office campus in Santa Monica, California. This deal highlights ongoing demand for high-quality Class A office space among leading tech firms. The Colorado Center spans 15 acres and is ideally located within Santa Monica's Media and Entertainment District, offering extensive amenities. Roku aims to enhance team collaboration and innovation with this new space.
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