BXP, Inc. (NYSE: BXP), through its operating partnership Boston Properties Limited Partnership, has agreed to sell $700 million of 6.050% senior unsecured notes maturing October 15, 2036, in an underwritten public offering.

The notes were priced at 99.837% of the principal amount, yielding 6.070% to maturity. Net proceeds from the offering are estimated at approximately $692.4 million. The offering is expected to close on August 31, 2026, subject to customary closing conditions.

Boston Properties Limited Partnership said it intends to use the net proceeds to fund the redemption or repayment of $1.0 billion in aggregate principal of its 2.750% senior notes due October 1, 2026. The remaining portion needed to retire those notes is expected to come from available cash and borrowings under its unsecured revolving line of credit.

J.P. Morgan Securities, BBVA Securities, BNY Mellon Capital Markets, PNC Capital Markets, TD Securities (USA), U.S. Bancorp Investments, and Wells Fargo Securities are acting as joint book-running managers for the offering.

BXP is a real estate investment trust with a portfolio totaling 51.1 million square feet across 164 properties as of June 30, 2026, with operations concentrated in Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C.