BOSTON, Dec. 5 /PRNewswire-FirstCall/ -- Boston Properties, Inc.
(NYSE: BXP), a real estate investment trust, announced today that its
operating partnership, Boston Properties Limited Partnership, has commenced an
offering of its senior unsecured notes. The Company intends to use the
proceeds from the offering to repay the unsecured bridge loan it used to fund
its acquisition of 399 Park Avenue in midtown Manhattan on September 25, 2002.
It is currently anticipated that the offering will be completed before the end
of the year.
The notes will be offered only to qualified institutional buyers, as
defined in Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"), and to certain institutional investors outside the United
States under Regulation S. The notes will not be registered under the
Securities Act or any state securities laws and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable state
securities laws.
This press release does not and will not constitute an offer to sell or
the solicitation of an offer to buy the notes. This press release is being
issued pursuant to and in accordance with Rule 135c under the Securities Act.
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 four core
markets - Boston, Midtown Manhattan, Washington, DC and San Francisco.
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, that
completion of the aforementioned offering is subject to, among other things,
market condition, that no assurance can be given that the offering can be
completed under acceptable terms or on the anticipated timetable, and other
risks and uncertainties detailed from time to time in the company's filings
with the Securities and Exchange Commission.
Visit the Company's web site at http://www.bostonproperties.com . Also
see http://www.frbinc.com .
SOURCE Boston Properties, Inc.
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Related links:
http://www.frbinc.com
http://www.bostonproperties.com
CONTACT:
Douglas T. Linde, Chief Financial Officer of
Boston Properties, Inc., +1-617-236-3300; or General, Marilynn
Meek, +1-212-445-8451, or Media, Suzie Pileggi, +1-212-445-8170,
both of The Financial Relations Board
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