Boston Properties

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Boston Properties Inc.
Public company
Traded as NYSEBXP
S&P 500 Component
Industry Real Estate Investment Trust
Founded 1970
Founder Mortimer Zuckerman, Edward H. Linde
Headquarters Boston, Massachusetts, U.S.
Key people
Owen D. Thomas, CEO, Douglas T. Linde, President, Michael E. LaBelle, CFO, Mortimer Zuckerman, Chairman
Products Real Estate Investment Trust, Property Developer
Revenue DecreaseUS$2.49 billion (2015)[1]
IncreaseUS$849.36 million (2015)[1]
IncreaseUS$583.10 million (2015)[1]
Total assets DecreaseUS$18.37 billion (2015)[1]
Total equity IncreaseUS$5.70 billion (2015)[1]
Number of employees
765 (2015)[2]
Subsidiaries Boston Properties Limited Partnership
Website www.bostonproperties.com

Boston Properties, Inc., a self-administered and self-managed American real estate investment trust (REIT), is one of the largest owners, managers and developers of Class A office properties in the United States, with a significant presence in five markets: Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston, Massachusetts, where it maintains its headquarters. Boston Properties became a public company in June 1997 and is traded on the New York Stock Exchange under the symbol “BXP.”[3]

Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 47.7 million square feet and consisting of 164 office properties (including six properties under construction), five retail properties, four residential properties (including two properties under construction) and one hotel. Boston Properties is well-known for its in-house building management expertise and responsiveness to tenants’ needs. The Company holds a superior track record in developing premium Central Business District (CBD) office buildings, suburban office centers and build-to-suit projects for the U.S. government and a diverse array of creditworthy tenants.[3]

The company specializes in high-performance workspace and acquired several high-value properties in these markets, including the General Motors Building in New York City for US$2.8 billion, the highest paid for an American office building.[4][5] It also owns one hotel property and is a member of REBNY.[6]

In 2005, it constructed 901 New York Avenue NW in Washington, D.C.[7] in the Mount Vernon Square neighborhood seven blocks northeast of the White House.

In October 2010, Boston Properties bought the John Hancock Tower and Garage from a partnership between Normandy Real Estate Partners & Five Mile Capital Partners for $930 million.[8]

See also[edit]

References[edit]

  1. ^ a b c d e https://finance.yahoo.com/quote/BXP/financials?p=BXP
  2. ^ http://ir.bostonproperties.com/phoenix.zhtml?c=120176&p=irol-SECText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEwNzgxMzkwJkRTRVE9MCZTRVE9MCZTUURFU0M9U0VDVElPTl9FTlRJUkUmc3Vic2lkPTU3#sE7820727385F5E1E8CC35F072F6DF442
  3. ^ a b "Boston Properties bxp". www.bostonproperties.com. Retrieved 2017-02-13. 
  4. ^ "Boston Properties Forms Joint Venture and Completes Acquisition of the General Motors Building". Cable News Network. June 10, 2008. Retrieved 2008-06-11. [dead link]
  5. ^ "Deutsche Bank May Sell Towers Seized From Macklowe (Update2)". Bloomberg.com. 2008-06-11. Retrieved 2008-07-28. 
  6. ^ "Member Firms". rebny.com. 
  7. ^ Mazzucca, Tim. "Firms Fight Over Office With Downtown Image." Washington Business Journal. June 6, 2005; White, Suzanne. "901 New York A Go for PoGo." Washington Business Journal. February 3, 2003; White, Suzanne. "Boston Properties Signs Anchor Tenant at 901 New York." Washington Business Journal. March 19, 2002.
  8. ^ "Boston Properties buys Boston tower for $930M". Business Week. Archived from the original on 7 October 2010. Retrieved 4 October 2010. 

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