BXP, Inc. Stock Price, News & Analysis

Boston Properties, Inc. (NYSE: BXP) announced the sale of $850 million in senior unsecured notes due 2033, priced at 99.959% to yield 2.454%. Estimated net proceeds of approximately $842.5 million will fund green projects and redeem existing 3.85% senior notes due February 2023. This marks BPLP's fourth green bond offering, having raised $1.0 billion in 2018 and $850 million in subsequent offerings. The company reports significant sustainability achievements, including LEED certifications and a GRESB 5-star rating. A loss of about $0.26 per diluted share is anticipated in Q4 2021 due to early debt redemption.

Boston Properties (NYSE: BXP) has declared a quarterly cash dividend of $0.98 per share for the period from July 1 to September 30, 2021. This dividend is payable on October 29, 2021 to shareholders on record as of the close of business on September 30, 2021. With a portfolio of 51.5 million square feet across 197 properties, including ongoing projects, Boston Properties continues to affirm its position as a leader in the Class A office market.

Boston Properties (NYSE:BXP) has successfully acquired Safeco Plaza, an 800,000 square-foot Class A office building in Seattle, for approximately $465 million. This is BXP's first venture into the Seattle market, which has shown rapid job growth, particularly in technology and life sciences. The property is currently 90% leased and will be held through a joint venture with institutional partners, with BXP managing the property. Funding for the acquisition includes a $250 million mortgage loan.

On July 16, 2021, Boston Properties (NYSE:BXP) announced the groundbreaking of 180 CityPoint, a 329,000 square foot life sciences building in Waltham, Massachusetts. The six-story facility will offer over 310,000 square feet of lab and office space, plus amenities like a food hall and wellness center. This project enhances BXP's 4.9 million square feet portfolio in Waltham and reflects the growing demand in the biotechnology sector. The development aims to solidify CityPoint as a hub for life sciences organizations.

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, 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 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.