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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 (BXP) has announced the 2020 tax treatment for distributions on its common stock and 5.25% Series B Cumulative Redeemable Preferred Stock. Shareholders are advised to consult with their tax advisors regarding the implications of these distributions. Significant details include:
- Total Distribution per Share: $0.980000
- 2020 Taxable Ordinary Dividends: $0.610620
- Record Date: December 31, 2019
- Payment Date: January 30, 2020
Boston Properties, Inc. (NYSE: BXP) has announced a full redemption of its $850 million 4.125% Senior Notes due 2021. The redemption will occur on February 14, 2021, at a total cost of approximately $858.7 million, which includes $8.7 million in accrued interest. The company plans to utilize available cash for this redemption. As the largest publicly traded developer and owner of Class A office properties in the U.S., Boston Properties manages a portfolio of 51.2 million square feet across major cities including Boston, Los Angeles, and New York.
Boston Properties, Inc. (NYSE:BXP) will release its financial results for the fourth quarter and full year 2020 on January 26, 2021, after market close. A conference call to discuss these results and provide an update will be held on January 27, 2021, at 10:00 AM ET. Boston Properties, a leader in Class A office properties, boasts a portfolio of 51.2 million square feet across 196 properties, with a presence in major markets such as Boston, Los Angeles, New York, San Francisco, and Washington, DC.
Boston Properties, Inc. (NYSE: BXP) has declared a quarterly cash dividend of $0.98 per share for the period from October 1, 2020 to December 31, 2020, payable on January 28, 2021. Additionally, the Board announced a cash dividend of $0.328125 per depositary share for the 5.25% Series B Cumulative Redeemable Preferred Stock, payable on February 16, 2021. Shareholders of record for the common stock will be noted as of December 31, 2020, and for preferred stock as of February 5, 2021.
Boston Properties (NYSE: BXP) announced the installation of a 5.2 megawatt solar photovoltaic system at Carnegie Center, Princeton. In partnership with Ameresco and Greenbacker, this 13,000-panel system will supply at least 75% of the annual energy needs for four buildings totaling 554,000 square feet. The installation is expected to generate 6.6 million kilowatt-hours annually, reducing greenhouse gas emissions by 4,600 metric tons. BXP's sustainability efforts have earned various recognitions, highlighting their commitment to environmentally responsible operations.
Boston Properties, Inc. (NYSE: BXP), the largest publicly-traded developer and manager of Class A office properties in the U.S., announced a 138,000 square-foot, 10-year lease with Translate Bio at 200 West Street, Waltham, MA. This property is undergoing redevelopment into lab space, set for completion in 2021, and is now fully leased. The facility will include modern lab spaces and amenities, fostering an environment for biotech innovation. BXP Life Sciences has a portfolio of 3.3 million square feet dedicated to life sciences, reflecting its strong commitment to this growing sector.
Boston Properties, Inc. (NYSE:BXP) announced that Volkswagen Group of America has signed a 20-year lease for 196,000 square feet at their new development in Reston Town Center, Virginia. This agreement marks the project as 85% pre-leased. Reston Town Center is set to expand by 4.4 million square feet, including office space, retail, and residential areas. The area is becoming a desirable location for companies to attract top talent, with plans supported by efficient workspace designs.
Boston Properties, Inc. (BXP) reported third-quarter financial results for 2020, showing a net income of $89.9 million, or $0.58 per diluted share, down from $107.8 million, or $0.70 per share in 2019. Funds from Operations (FFO) were $244.0 million, or $1.57 per share, a decline from $253.6 million, or $1.64 per share a year ago. Noteworthy achievements include leasing 811,000 square feet and achieving 99% rent collection from office tenants. The company also completed significant developments and acquisitions, solidifying its footprint in key markets.
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