BOSTON, July 18 /PRNewswire/ -- Beacon Properties Corporation
(NYSE: BCN) announced today that it has arranged a new $300 million line
of credit with a multi-bank lending group that will carry an interest
rate of 175 basis points over the Eurodollar Rate for a three-year term
ending June 27, 1999.  The company's previous credit line was
$150 million.
    The bank lending group for the new credit line, which Beacon has not
yet drawn upon, includes Bank of Boston (agent); BHF Bank; Banque
Nationale de Paris (BNP); Comerica Bank; Commerzbank; First American
Bank of Texas; First National Bank of Chicago; Fleet Bank; Mellon Bank;
PNC Bank; Union Bank; US Trust; and Wells Fargo Bank.
    "Our increased credit line of $300 million will give us excellent
flexibility in our continuing acquisition program," Alan M. Leventhal,
president and chief executive officer, stated.  Since Beacon's initial
public offering (IPO) in May 1994, the company has made 17 acquisitions,
adding approximately 5.7 million square feet to its initial portfolio,
including the 3.3 million square foot Perimeter Center, Atlanta,
acquisition which marked Beacon's entry into the Southeast region of the
United States.
    Beacon Properties Corporation is a self-administered and self-
managed real estate investment trust (REIT).  One of the nation's
largest office REITs, Beacon owns or has an interest in 58 properties
totalling approximately 10 million square feet.  The company specializes
in property acquisitions, management, leasing, design, construction and
development.  In addition to its own properties, Beacon manages three
million square feet for third party institutional owners.  Further
information about Beacon is available at the company's Internet site:
http://www.beaconproperties.com.