Office Tower Deal for $1 Reveals Anxiety Among Longtime Buyers [BNN Bloomberg (Canada)]
Boston Properties, Inc. (BXP)
Last boston properties, inc. earnings: 4/28 04:49 pm
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Source: BNN Bloomberg
Now the largest of them is taking steps to limit its exposure to the most-beleaguered property type — office buildings. Canada Pension Plan Investment Board has done three deals at discounted prices, selling its interests in a pair of Vancouver towers, a business park in Southern California and a redevelopment project in Manhattan, with the New York stake offloaded for the eyebrow-raising price of just $1. The worry is those deals may set an example for other major investors seeking a way out of the turmoil too. “It's the opposite of a vote of confidence for office,” said John Kim, an analyst tracking real estate companies for BMO Capital Markets. “My question is, who could be next?” Anxiety over office buildings has swept the financial world as the persistence of both remote work and higher borrowing costs undercuts the economic fundamentals that made the properties good investments in the first place. A wave of banks from New York to Tokyo recently conceded that loans they mad
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News
- Key Factors to Impact Boston Properties' (BXP) Q1 Earnings [Yahoo! Finance]Yahoo! Finance
- Too many cubicles, too few homes spur incentives to convert offices to housing [Yahoo! Finance]Yahoo! Finance
- BXP Releases 2023 Sustainability & Impact ReportBusiness Wire
- Stock market today: Wall Street slumps as rising yields crank up the pressure [Los Angeles Times (CA)]Los Angeles Times
- Stock Market News for Apr 11, 2024 [Yahoo! Finance]Yahoo! Finance
BXP
Earnings
- 1/30/24 - Beat
BXP
Sec Filings
- 4/16/24 - Form ARS
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEF
- BXP's page on the SEC website