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Boston Properties To Sell Princeton Office Park For $468 Million

DOW JONES NEWSWIRES Boston Properties Inc. (BXP) signed an agreement to sell its Carnegie Center in Princeton, N.J, for about $468 million to a joint venture between Normandy Real Estate Partners and Landis Group. Carnegie Center, a 16-building office park on 560 acres, was acquired by the real estate investment trust in 1998. Under the terms of the deal, either party may terminate the pact at any time without payment to the other party. If the closing doesn't occur on or prior to June 21, the agreement will terminate. Boston Properties in January reported swinging to a fourth-quarter loss, as the office-property manager saw a key measure of profitability decline because of one-time charges. Standard & Poor's boosted its outlook on the company in December, saying it thought U.S. office rents and occupancies were nearing their worst and Boston Properties was likely to see results gradually improve. Shares were unchanged at $100.22 in after-hours trading and have gained 16% so far this year. -By Lauren Pollock, Dow Jones Newswires; 212-416-2356; lauren.pollock@dowjones.com

Stock News for Boston Properties (BXP)
DateTimeHeadline
05/20/201516:03:09Current Report Filing (8-k)
05/20/201512:15:10What Is the S&P 500 Index?
05/15/201510:02:21Stock Market Tips for Investing in Real Estate
05/14/201514:39:01Statement of Changes in Beneficial Ownership (4)
05/11/201506:08:14Quarterly Report (10-q)
05/05/201509:16:32Boston Properties Receives Buy Rating from Deutsche Bank (BXP)
05/04/201515:23:56Statement of Changes in Beneficial Ownership (4)
05/04/201515:23:56Statement of Changes in Beneficial Ownership (4)
05/04/201515:23:32Statement of Changes in Beneficial Ownership (4)
05/04/201515:23:04Statement of Changes in Beneficial Ownership (4)
05/04/201515:23:04Statement of Changes in Beneficial Ownership (4)
05/04/201515:22:39Statement of Changes in Beneficial Ownership (4)
05/04/201515:22:11Statement of Changes in Beneficial Ownership (4)
04/28/201506:04:43Current Report Filing (8-k)
04/27/201518:43:32Boston Properties Profit More Than Triples on Real-Estate Sales...
04/27/201517:49:00Boston Properties Announces First Quarter 2015 Results
04/21/201513:10:033 REITs That Can Make Your Grandkids Rich
04/12/201500:24:38REITs, Rates And Reality - A Further Study
04/02/201512:12:26Statement of Changes in Beneficial Ownership (4)
04/02/201512:11:59Statement of Changes in Beneficial Ownership (4)

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