BOSTON, Sept. 25 /PRNewswire/ -- Boston Properties, Inc. (NYSE: BXP), a
real estate investment trust, announced today that it has increased its
unsecured line of credit from $500 million to $605 million with a 14-bank
global lending group led by Fleet National Bank.
Douglas T. Linde, Boston Properties' Senior Vice President for Financial
and Capital Markets, said, "This increase in our line of credit will provide
us with additional capacity to fund our ongoing and future development
activities, future land and property purchases, and working capital."
Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops, redevelops, acquires,
manages, operates and owns a diverse portfolio of Class-A office, industrial
and hotel properties. The Company is one of the largest owners and developers
of Class-A office properties in the United States, concentrated in the
Northeast Corridor from Virginia to Greater Boston and in Greater San
Francisco.
To receive Boston Properties' latest news and corporate developments via
fax at no cost, please call 1-800-PRO-INFO; use company code BXP. Visit the
Company's web site at http://www.bostonproperties.com . Also see
http://www.frbinc.com .
This press release contains forward-looking statements within the meaning
of the Federal securities laws. You should exercise caution in interpreting
and relying on forward-looking statements because they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond Boston Properties control and could materially affect actual results,
performance or achievements. These factors include, without limitation, the
ability to enter into new leases or renew leases on favorable terms,
dependence on tenants' financial condition, the uncertainties of real estate
development and acquisition activity, the ability to effectively integrate
acquisitions, the costs and availability of financing, the effects of local
economic and market conditions, regulatory changes and other risks and
uncertainties detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
SOURCE Boston Properties, Inc.
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Related links:
http://www.bostonproperties.com
CONTACT:
Elaine Quinlan, Investor Relations of Boston
Properties, Inc., 617-236-3300, or Media, Judith Sylk-Siegel of
The Financial Relations Board, 212-661-8030
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