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.
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.
Summary not available.
View Boston, set to open in 2023 atop the Prudential Tower, will be a 59,000-square-foot observatory providing stunning 360° views of the city. Owned by BXP (NYSE: BXP), the venue will feature immersive exhibits allowing visitors to create customized itineraries based on interests, enhancing the Boston experience. The project aims to attract both business and leisure travelers, positioning itself as a premier destination in Boston's tourism landscape. BXP's partnership with the Greater Boston Convention & Visitors Bureau will promote the observatory as a must-visit location.
BXP (NYSE: BXP), a leading real estate investment trust, will announce its third quarter 2022 financial results on October 25, 2022, after NYSE trading. A conference call is scheduled for October 26, 2022, at 10:00 A.M. Eastern Time, to discuss the results and provide updates on BXP's operations. As of June 30, 2022, BXP managed a portfolio of 53.7 million square feet across 193 properties, including 12 under construction, solidifying its position in key US markets.
BXP has successfully acquired 125 Broadway, a 271,000 square foot lab property, from Biogen for approximately $592 million. Biogen will continue leasing the property until April 2028. This acquisition complements BXP's existing Kendall Center portfolio in Cambridge, MA, a hub for life sciences. Additionally, BXP has terminated a lease at 300 Binney Street to redevelop it into 240,000 square feet of lab space, securing a 15-year lease with a prominent life sciences firm, commencing post-renovation in late 2024.