Boston Properties Inc
(NYSE: BXP)
107.51
-3.69
-3.32%
-3.69
-3.32%
MORE ON BXP
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Boston Properties Inc |
| Industry: | REIT - Office |
| Employees: | 730 |
DESCRIPTION
| Boston Properties, Inc is a Delaware corporation, organized in 1997. The Company is a full-service real estate company, with in-house expertise and resources in acquisitions, development, financing, capital markets, construction management, property management, marketing, leasing, accounting, tax and legal services. Its properties are concentrated in five markets: Boston, New York, Princeton, San Francisco and Washington, DC. The Company conducts substantially all of its business through its subsidiary, Boston Properties Limited Partnership. At December 31, 2011, the Company owned or had interests in 157 properties, totaling approximately 44.4 million net rentable square feet including nine 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. Its properties consisted of: 149 office properties including 132 Class A office properties (including eight properties under construction) and 17 Office/Technical properties; one hotel; four retail properties, and three residential properties (One of which is under construction). The Company owns or control undeveloped land totaling approximately 503.3 acres, which would support approximately 12.5 million square feet of development. In addition, it has a noncontrolling interest in the Boston Properties Office Value-Added Fund, L.P. which is a strategic partnership with two institutional investors through which the Company has pursued the acquisition of assets within its existing markets that have deficiencies in property characteristics which provide an opportunity to create value through repositioning, refurbishment or renovation. At December 31, 2012, the Value-Added Fund had investments in 23 buildings comprised of two office complexes in Mountain View, California. The Company competes in the leasing of office, retail and residential space with a considerable number of other real estate companies, some of which may have greater marketing and financial resources than are available to the Company. In addition, its hotel property competes for guests with other hotels, some of which may have greater marketing and financial resources than are available to it, and to the manager of Company's one hotel, Marriott International, Inc. The Company's properties are subject to various federal, state and local regulatory requirements, such as state and local fire and life safety requirements. |
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