To Buy First Property In California, Two Massachusetts Properties

    BOSTON, Nov. 4 /PRNewswire/ -- Beacon Properties Corporation (NYSE: BCN)
today announced plans for its first office property acquisition in California
and the purchase of two additional properties in Massachusetts for a total
price of $253 million.  Concurrently, Beacon commenced a public offering of
six million shares of common stock.
    The three properties, comprising eleven Class A office buildings totalling
approximately 1,624,000 square feet, would increase Beacon's total portfolio
to more than 13.8 million square feet.  They include 10960 Wilshire Boulevard,
a 544,000 square foot office tower located in the Westwood suburb of West Los
Angeles, California; The New England Executive Park, a nine-building,
817,000 square foot portfolio located in suburban Boston; and Riverview, a
263,000 square foot office building located in Cambridge, Massachusetts.
    Beacon plans to use the net proceeds from the public offering, together
with a portion of Beacon's $300 million credit facility, to finance the
acquisitions, which are expected to be completed during the fourth quarter of
1996.  The underwriters for the offering are Merrill Lynch & Co., Dean Witter
Reynolds, Inc., Donaldson Lufkin & Jenrette, Lehman Brothers, PaineWebber
Incorporated and Raymond James & Associates, Inc.
    The acquisitions announced today, which are subject to the completion of
due diligence and customary closing conditions, would bring Beacon's total
property purchases in 1996 to nearly $1 billion.  The acquisition in West Los
Angeles, California, would mark Beacon's third geographical diversification
during the year, following the company's entry into Atlanta, Georgia, in
February and Chicago, Illinois, in August.  At the same time, the new
acquisitions would increase the proportion of Beacon's suburban office
properties to 73 per cent.
    The combined annual net operating income of the eleven office buildings
being acquired and two buildings in Rosslyn, Virginia, purchased in October is
estimated at approximately $36.9 million (including $2.95 million of
straight-line rents), based on the annualized rental income from signed leases
in place as of September 30, 1996.  Beacon acquired the Rosslyn buildings for
$99.1 million and anticipates non-recurring capital expenditures of
approximately $6.4 million for both the pending acquisitions and the Rosslyn
buildings.
    Beacon Properties Corporation is a self-administered and self-managed real
estate investment trust (REIT).  One of the nation's largest office REITs,
Beacon currently owns or has an interest in 70 properties totalling
approximately 12.2 million square feet.  The company specializes in property
acquisitions, management, leasing, design, construction and development.
Further information is available at the company's Internet site:
http://www.beaconproperties.com.
    Certain matters discussed in this press release may constitute forward-
looking statements within the meaning of the Federal securities law.  Although
Beacon believes that the expectations reflected in such forward-looking
statements are based upon assumptions, it can give no assurance that its
expectations will be achieved.  Factors that could cause actual results to
differ materially from Beacon's current expectations include general economic
conditions, local real estate conditions, timely releasing of occupied square
footage expiration, interest rates, availability of equity and debt financing
and other risks detailed from time to time in the company's filings with the
Securities and Exchange Commission, including quarterly reports on Form 10-Q,
reports on Form 8-K and annual reports on Form 10-K.

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