Profile: Boston Properties Inc (BXP)
19 Jun 2013
Boston Properties, Inc., incorporated on March 24, 1997, is an integrated, self-administered and self-managed real estate investment trust (REIT). The Company is an owner and developer of office properties in the United States. The Company’s properties are concentrated in five markets: Boston, New York, Princeton, San Francisco and Washington, DC. The Company conducts all of its business through its subsidiary, Boston Properties Limited Partnership (BPLP). As of December 31, 2012, the Company owned or had interests in 157 properties, totaling approximately 44.4 million net rentable square feet, including seven properties under construction totaling approximately 2.8 million net rentable square feet. In addition, it had structured parking for approximately 46,833 vehicles containing approximately 15.9 million square feet. As of December 31, 2012, the Company’s properties consisted of 149 office properties, including 132 Class A office properties (including six properties under construction) and 17 Office/Technical properties; one hotel; four retail properties, and three residential properties (one of which are under construction. In March 2012, the Company acquired 100 Federal Street in Boston, Massachusetts from an affiliate of Bank of America, N.A. On March 1, 2012, the Company acquired 453 Ravendale Drive. On October 4, 2012, the Company acquired Fountain Square. In June 2013, Sungate Fifth Avenue LLC and 767 LLC acquired a 40% interest in the General Motors Building located in New York, from joint venture partners of Boston Properties Inc.
The Company owns or controls undeveloped land totaling approximately 509.3 acres, which could support approximately 12.5 million square feet of additional development. In addition, the Company has a non-controlling interest in the Boston Properties Office Value-Added Fund, L.P (Value-Added Fund). Its investments through the Value-Added Fund are not included in its portfolio information tables or any other portfolio level statistics. As of December 31, 2012, the Value-Added Fund had investments in 23 buildings comprised of two office complexes in Mountain View, California. The Company is a full service real estate company, with in-house resources in acquisitions, development, financing, capital markets, construction management, property management, marketing, leasing, accounting, tax and legal services.
Boston Properties Inc
Suite 1900, 800 Boylston Street
BOSTON MA 02199-8103