The Boston Properties

The Boston Properties


The Boston Properties

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Boston Properties, a self-administered and self-managed 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, New York, Princeton, San Francisco and Washington, DC. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston, 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.”

The Company acquires, develops and manages its properties through full-service regional offices. Its property portfolio is comprised primarily of Class A office properties and also includes one hotel, three residential properties and four retail properties. Boston Properties is well-known for its in-house building management expertise and responsiveness to tenants’ needs. The Company holds a superior track record in developing premium Central Business District (CBD) office buildings, suburban office centers and build-to-suit projects for the U.S. government and a diverse array of creditworthy tenants.

What is a REIT?

A REIT is a company that owns, and in most cases, operates income-producing real estate such as apartments, shopping centers, offices, hotels and warehouses. Some REITs also engage in financing real estate. The shares of many REITs are freely traded, usually on a major stock exchange.

To qualify as a REIT, a company must distribute at least 90 percent of its taxable income to its shareholders annually. A company that qualifies as a REIT is permitted to deduct dividends paid to its shareholders from its corporate taxable income. As a result, most REITs distribute at least 100 percent of their taxable income to their shareholders and therefore owe no federal corporate tax. Taxes are paid by shareholders on the dividends received and any capital gains. Most states honor this federal treatment and also do not require REITs to pay state income tax. Like other businesses, but unlike partnerships, a REIT cannot pass any tax losses through to its investors.

For more than four decades, Boston Properties and its employees have maintained the highest standards of integrity and ethics. We take pride in our traditions of responsibility and accountability. We also believe that transparent disclosure of our corporate governance policies is fundamentally important to maintaining our well-established reputation and preserving the trust of our investors. In fact, this section of our corporate website is dedicated to presenting our key Board committee charters and other governance policies. The policies and principles described in these documents — which our Board of Directors has reviewed and approved — implement requirements of the Sarbanes-Oxley Act of 2002, the related rules of the Securities and Exchange Commission and the New York Stock Exchange, as well as our own vision of good governance.

Fundamentally Strong Markets and High Barriers to Entry

High barriers to entry and strong real estate fundamentals characterize Boston Properties’ core markets. We have proven throughout our history that operating, developing and acquiring Class-A office real estate in supply-constrained markets is the best business strategy to maximize return on investment. We have selected markets and submarkets — including, Boston, Washington, D.C., Midtown Manhattan, San Francisco and Princeton, N.J. — where tenants have demonstrated a preference for high-quality office buildings and facilities. Boston Properties’ strategy of holding higher quality assets in the best locations pays off even during weak market conditions as tenants make a “flight to quality" to take advantage of attractive rent levels and increased availability at superior buildings.

Development Pipeline

Boston Properties began as a real estate development company in 1970 and became a publicly traded real estate investment trust in 1997. Development remains a key part of Boston Properties’ operating strategy for future growth. Boston Properties now controls sites on which we can develop a total of approximately 13 million square feet as market conditions and build-to-suit opportunities permit.

pie-charts-propertiesbar-charts-propertiesOffice Locations

Corporate Headquarters
800 Boylston Street
at The Prudential Center
Boston, Massachusetts 02199-8103
(617) 236-3300Boston Regional Office
800 Boylston Street
at The Prudential Center
Boston, Massachusetts 02199-8103
(617) 236-3300New York Regional Office
599 Lexington Avenue
New York, New York 10022-6004
(212) 326-4000
Princeton Regional Office
302 Carnegie Center
Princeton, New Jersey 08540-6289
(609) 452-1444San Francisco Regional Office
Four Embarcadero Center
San Francisco, California 94111-5994
(415) 772-0700Washington, DC Regional Office
2200 Pennsylvania Avenue, NW
Washington, D.C. 20037-1701
(202) 585-0800

© 2013, Boston Properties, Inc. All rights reserved.

Source: http://www.bostonproperties.com