BXP, Inc. operates as a fully integrated real estate investment trust that develops, owns, and manages premier workplaces in Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. Company news commonly covers leasing volume, occupancy, client expansions, development and redevelopment projects, strategic asset sales, acquisitions, and portfolio repositioning across urban gateway markets.
Updates also include quarterly operating results, FFO and EPS guidance, dividend declarations, distribution tax treatment, capital allocation priorities, and conference presentations addressing the office operating environment, investment activity, and balance sheet strategy.
Barings and Schnitzer West have successfully completed the $730M sale of Seattle's Madison Centre to Boston Properties (NYSE: BXP), marking the largest multi-tenant office sale year-to-date in the U.S. The 37-story office tower, completed in September 2017, features 760,971 rentable square feet and is 93% leased. Madison Centre boasts advanced amenities, including health and wellness features, and has achieved LEED Platinum certification. The sale, brokered by Newmark, highlights the growing demand for high-quality office spaces as tenants adapt post-COVID.
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Boston Properties, Inc. (NYSE: BXP) reported strong Q1 2022 results, exceeding EPS and FFO guidance. Revenue surged 6% to $754.3 million, with net income of $143 million ($0.91 per share) and FFO of $286.1 million ($1.82 per share). The company executed approximately 1.2 million square feet of leases, double the volume from Q1 2021, and agreed to acquire Madison Centre in Seattle for $730 million. BXP's Q2 2022 guidance projects EPS of $0.79 - $0.81 and FFO of $1.84 - $1.86. Additionally, BXP received recognition as one of Barron’s 10 Most Sustainable REITs.
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Boston Properties (NYSE: BXP), the largest publicly traded developer, owner, and manager of Class A office properties in the US, will release its first-quarter financial results on May 2, 2022, after market close. A conference call is scheduled for May 3, 2022, at 11:00 A.M. ET for detailed discussions on the results and company updates. The delayed release is due to scheduling conflicts. BXP's portfolio includes 52.8 million square feet and 201 properties, with nine under construction/redevelopment as of December 31, 2021.
Boston Properties (NYSE: BXP) has declared a quarterly cash dividend of $0.98 per share for the period of January 1, 2022, to March 31, 2022. This dividend will be payable on April 29, 2022, to shareholders of record as of the close of business on March 31, 2022. The company remains a leading developer and manager of Class A office properties in the U.S., with a significant portfolio of 52.8 million square feet across major markets such as Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.
Boston Properties (NYSE: BXP) announced participation in the 2022 Citi Global Property CEO Conference from March 6-9, 2022, at the Diplomat Resort & Spa in Hollywood, Florida.
The company's executives, including CEO Owen Thomas, President Douglas Linde, and CFO Michael LaBelle, will lead a roundtable discussion on March 8, 2022, at approximately 9:45 AM ET. Investors can access a live webcast through the company’s Investor Relations section. Boston Properties is the largest publicly traded developer and manager of Class A office spaces in the U.S.
Boston Properties (NYSE: BXP) announced the resumption of construction on the first phase of the Platform 16 development in San Jose. This phase includes a 390,000 square foot Class A office building, expected to be ready by late 2024, alongside a below-grade parking garage. BXP holds a 55% stake in the joint venture, with the Canada Pension Plan Investment Board owning the remaining 45%. The completed urban campus will total 1.1 million square feet, featuring modern amenities and direct access to Guadalupe River Park.
Boston Properties (NYSE: BXP) has executed 1.8 million square feet of leases in Q4 2021, with an average lease term of 8.6 years, contributing to a total of 5.1 million square feet for the year. Key leases include 231,000 square feet in South San Francisco and significant leases in Waltham and New York City. This leasing activity marks a 55% increase from Q4 2020 and showcases a strong demand for office spaces, particularly among life sciences clients, with over 25% of leases in this sector.
Boston Properties (BXP) reported strong Q4 and full-year 2021 results, surpassing EPS and FFO guidance. Q4 revenue increased 10% year-over-year to $731.1 million, with net income reaching $184.5 million ($1.18 per diluted share). Full-year EPS was $3.17, down from $5.54 in 2020, due to higher asset sale gains in the prior year. The company executed 1.8 million square feet of leases in Q4 and 5.1 million for 2021, primarily in life sciences. Significant initiatives include multiple new developments, completions, and a major acquisition in Seattle.