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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, Inc. (NYSE: BXP) has announced the 2022 tax treatment of distributions for its common stock. Key distribution details include a total distribution of
BXP (NYSE: BXP), a leading real estate investment trust, has been named one of America's Most Responsible Companies for 2023 by Newsweek, ranking first in the Real Estate & Housing sector and 29th overall out of 500 companies. The firm also earned its second consecutive inclusion in the Dow Jones Sustainability Index North America, highlighting its strong ESG performance.
Owen Thomas, CEO, emphasized the critical role of the real estate industry in addressing climate change. BXP achieved a notable environmental score and continues to lead in corporate responsibility, receiving numerous accolades for its sustainability initiatives.
BXP (NYSE: BXP) announced the closing of a new $1.2 billion unsecured term loan facility maturing in May 2024. An option exists to increase the loan by $300 million. Proceeds will refinance a $730 million loan due in May 2023, providing approximately $466 million for corporate purposes. This financing reflects BXP's robust financial condition and strengthens its liquidity, supporting strategic growth, including new developments in Cambridge, MA.
BXP (NYSE: BXP), a leading developer and manager of premier workplaces in the U.S., will release its financial results for Q4 and the full year 2022 on January 31, 2023, post NYSE trading hours. A conference call is set for February 1, 2023, at 10:00 A.M. ET to discuss these results. BXP operates in six major markets, with a portfolio of 53.5 million square feet across 193 properties, including ongoing projects. The company focuses on delivering value for clients and communities.
Boston Properties, Inc. (NYSE: BXP) declared a quarterly cash dividend of $0.98 per share for the period October 1, 2022 to December 31, 2022. This dividend is payable on January 30, 2023 to shareholders of record as of the close of business on December 30, 2022. BXP is the largest publicly traded developer, owner, and manager of premier workplaces in the U.S., with a portfolio totaling 53.5 million square feet across 193 properties, including 14 properties under construction. For more information, visit www.bxp.com.
BXP (NYSE: BXP), a leading developer and manager of premier workplaces in the U.S., has received Nareit's 2022 Leader in the Light Award for its excellence in sustainability within the office property sector. This marks BXP's eleventh consecutive 'Green Star' recognition and reflects its commitment to sustainable practices, as evidenced by a 5-star GRESB rating. The company emphasizes its role in addressing climate change, with a portfolio of 53.5 million square feet across key U.S. markets. BXP continues to be recognized for its ESG initiatives, positioning itself as a leader in sustainable real estate.
BXP (NYSE: BXP) announced the successful sale of The Avant at Reston Town Center for a gross price of $141 million, yielding net proceeds of approximately $138 million. The property, a 15-story luxury residential building with 359 units, was developed in 2013. The transaction is part of a reverse like-kind exchange allowing BXP to defer taxable gains. Besides the residential units, BXP retains ownership of the retail space within the property. This sale is part of a broader strategy involving the acquisition of Madison Centre in Seattle for $730 million.
Boston Properties, Inc. (NYSE: BXP) announced the sale of $750 million in 6.750% senior unsecured notes due 2027 at a yield of 6.763%. The offering, led by BofA Securities, J.P. Morgan, and others, is expected to close on November 17, 2022. Net proceeds of approximately $743.5 million will finance eligible green projects and repay debt. However, it is projected to decrease BXP’s net income by $0.02 per share for 2022 and $0.08 for 2023 due to increased interest expenses. This marks BPLP's fifth green bond issuance since 2018.
BXP (NYSE: BXP) reported strong Q3 2022 results, with a revenue increase of 8.3% to $790.5 million and a net income of $361.0 million or $2.29 per diluted share, outperforming guidance by $1.54 for EPS. Funds from Operations (FFO) reached $299.8 million or $1.91 per diluted share, exceeding guidance by $0.04. The company executed 1.4 million square feet of leases, including a significant life sciences lease in Cambridge, and expanded its portfolio with the acquisition of 125 Broadway for approximately $592.4 million.
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