Boston Properties (BXP) Declares $0.65 Quarterly Dividend; 2% Yield

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Boston Properties Completes Sale of Innovation Place and Declares Special Cash Dividend of $1.25 Per Share and Regular Quarterly Dividends

December 17, 2015 4:22 PM EST

BOSTON--(BUSINESS WIRE)-- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today that it completed the sale of its Innovation Place property for a gross sale price of $207.0 million. Innovation Place, located in San Jose, California, is a 26-acre site with one occupied and three vacant existing office buildings and a total of approximately 574,000 square feet (approximately 463,000 square feet of which are vacant) located at 3100-3130 Zanker Road. Currently, the remainder of the site is used for 1,699 surface parking spaces but the land supports an additional 537,000 square feet of... More

Boston Properties Defeases Loan Secured by 100 & 200 Clarendon Street

December 15, 2015 4:01 PM EST

BOSTON--(BUSINESS WIRE)-- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced that on December 15, 2015 it legally defeased the mortgage loan collateralized by 100 & 200 Clarendon Street (formerly known as the John Hancock Tower) in Boston, Massachusetts. The mortgage loan had an outstanding principal balance of $640.5 million, bore interest at a fixed rate of 5.68% per annum and was scheduled to mature on January 6, 2017. The cash outlay required for the defeasance in the amount of approximately $667.4 million was based on the purchase price of U.S. government securities that will generate sufficient cash... More