BXP

Boston Properties, Inc. is one of the largest owners, developers, and managers of Class A office properties in the United States, owning premier office buildings in Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C. The company develops, acquires, and operates high-quality office, residential, hotel, and retail properties primarily in prime CBD locations in its core markets. Boston Properties serves prestigious tenants including law firms, financial services companies, technology companies, government agencies, and professional services firms. Founded in 1970 and headquartered in Boston, Massachusetts, Boston Properties has built one of the highest-quality office portfolios among REITs, emphasizing premier buildings in gateway markets. The company benefits from high-quality assets, strong tenant relationships, development capabilities, and prime locations. Boston Properties faces severe challenges from structural office demand changes following COVID-19, including remote work adoption, reduced office space requirements, and tenants downsizing or not renewing leases. The REIT has experienced declining occupancy, rental rate pressures, and valuation concerns. Boston Properties is working to reposition assets, pursue mixed-use development, and manage through difficult office market fundamentals.