BXP, Inc. - BXP STOCK NEWS

Boston Properties, Inc. (NYSE: BXP) has agreed to acquire the Shady Grove Bio+Tech Campus in Rockville, Maryland, for $116.5 million. The campus includes 435,000 square feet across seven buildings and is located in a prime life sciences cluster. BXP plans to convert existing office spaces into Class A lab spaces to meet rising demand from biotechnology companies. This acquisition expands BXP's Life Sciences portfolio, which totals over 3 million square feet in service and 1 million square feet under development, further solidifying its position in key markets.

Boston Properties (NYSE: BXP) has announced the acquisition of 360 Park Avenue South, a 450,000 square-foot office property in Manhattan, for approximately $300 million. The property is currently fully leased but will be vacated by its tenant in late 2021, allowing BXP to upgrade the building for Class A clients. The acquisition will be funded through $202 million in mortgage debt and $98 million in Operating Partnership Units. This purchase expands BXP's presence in the Midtown South area, appealing to TAMI sector tenants.

Boston Properties (NYSE: BXP) has signed a binding agreement to acquire Safeco Plaza, an 800,000 square-foot, LEED-Platinum certified office building in Seattle for approximately $465 million. This marks BXP's entry into the Seattle market, known for its strong growth in technology and life sciences. The acquisition will be made through a joint venture, with BXP owning up to 51%. Safeco Plaza is strategically located in the Central Business District, is 90% leased, and offers excellent accessibility, making it appealing to various tenants.

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.