The Real Deal New York

Boston Properties eyes Los Angeles as its fifth core market

Nation’s largest office REIT discusses $500M-plus Colorado Center acquisition

June 09, 2016 07:57AM
By Rey Mashayekhi

The Colorado Center and Boston Properties CEO Owen Thomas

The Colorado Center and Boston Properties CEO Owen Thomas

From the Los Angeles website: Boston Properties CEO Owen Thomas said the company’s recent foray into Los Angeles – with the $500 million-plus acquisition of a stake in Santa Monica’s Colorado Center – is the first step in establishing L.A. as its fifth core market.

Speaking at NAREIT’s REITWeek 2016 Investor Forum at the Waldorf Astoria in Manhattan on Wednesday, Thomas said L.A. fits the bill as the Boston-based real estate investment trust’s next market because “highs are generally higher, and lows are generally higher, from a rent perspective.” [more]

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