Boston Properties

Last updated
Boston Properties, Inc.
Public company
Traded as NYSE:  BXP
S&P 500 Component
Industry Real Estate Investment Trust
Founded1970
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
RevenueDecrease2.svgUS$2.49 billion (2015) [1]
Increase2.svgUS$849.36 million (2015) [1]
Increase2.svgUS$583.10 million (2015) [1]
Total assets Decrease2.svgUS$18.37 billion (2015) [1]
Total equity Increase2.svgUS$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]

A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, ranging from office and apartment buildings to warehouses, hospitals, shopping centers, hotels and timberlands. Some REITs engage in financing real estate.

Contents

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. [3]

The company specializes in high-performance workspace and acquired several high-value properties in these markets.

Projects

In 1985 they won the bid against Donald Trump to re-develop the Coliseum at Columbus Circle. [4] In 2008, they acquired the General Motors Building in New York City for US$2.8 billion, the highest paid for an American office building. [5] [6] It also owns one hotel property and is a member of REBNY. [7]

Donald Trump 45th and current president of the United States

Donald John Trump is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality.

New York Coliseum

The New York Coliseum was a convention center that stood at Columbus Circle in New York City from 1956 to 2000. It was designed by architects Leon and Lionel Levy in a modified International Style, and included both a low building with exhibition space and a 26-story office block. The project also included the construction of a housing development directly behind the complex.

Columbus Circle Circle in Manhattan, New York

Columbus Circle is a traffic circle and heavily trafficked intersection in the New York City borough of Manhattan, located at the intersection of Eighth Avenue, Broadway, Central Park South, and Central Park West, at the southwest corner of Central Park. The circle is the point from which official highway distances from New York City are measured, as well as the center of the 25 miles (40 km) restricted-travel area for C-2 visa holders.

In 2005, it constructed 901 New York Avenue NW in Washington, D.C. [8] in the Mount Vernon Square neighborhood seven blocks northeast of the White House.

901 New York Avenue

901 New York Avenue NW is a mid-rise Postmodern high-rise located in Washington, D.C., in the United States. The structure was developed by Boston Properties in an effort to help to revitalize the Mount Vernon Square neighborhood, and was completed in 2005. It is located on a roughly triangular parcel bounded by New York Avenue NW, K Street NW, and 10th Street NW, and is north of the CityCenterDC mixed-use residential, office, and retail project.

Washington, D.C. Capital of the United States

Washington, D.C., formally the District of Columbia and commonly referred to as Washington or D.C., is the capital of the United States. Founded after the American Revolution as the seat of government of the newly independent country, Washington was named after George Washington, the first president of the United States and a Founding Father. As the seat of the United States federal government and several international organizations, Washington is an important world political capital. The city, located on the Potomac River bordering Maryland and Virginia, is one of the most visited cities in the world, with more than 20 million tourists annually.

White House Official residence and workplace of the President of the United States

The White House is the official residence and workplace of the president of the United States. It is located at 1600 Pennsylvania Avenue NW in Washington, D.C. and has been the residence of every U.S. president since John Adams in 1800. The term "White House" is often used as a metonym for the president and his advisers.

In October 2010, Boston Properties bought the former John Hancock Tower and Garage (now known as "200 Clarendon", but residents still call it by its former name) from a partnership between Normandy Real Estate Partners & Five Mile Capital Partners for $930 million. [9]

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References

  1. 1 2 3 4 5 https://finance.yahoo.com/quote/BXP/financials?p=BXP
  2. SEC Filings, Boston Properties, Inc.
  3. 1 2 "Boston Properties bxp". www.bostonproperties.com. Retrieved 2017-02-13.
  4. https://www.vanityfair.com/magazine/2015/07/donald-ivana-trump-divorce-prenup-marie-brenner
  5. "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 ]
  6. "Deutsche Bank May Sell Towers Seized From Macklowe (Update2)". Bloomberg.com. 2008-06-11. Retrieved 2008-07-28.
  7. "Member Firms". rebny.com.
  8. 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.
  9. "Boston Properties buys Boston tower for $930M". Business Week. Archived from the original on 7 October 2010. Retrieved 4 October 2010.