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Posts Tagged ‘Boston Properties’

  • Rendering of WeWork building at the Brooklyn Navy Yard (credit: S9 Architecture) (inset: Boston Properties CEO Owen Thomas, top, Rudin Management chairman Bill Rudin, bottom (credit: STUDIO SCRIVO))

    Rendering of WeWork building at the Brooklyn Navy Yard (credit: S9 Architecture) (inset: Boston Properties CEO Owen Thomas, top, Rudin Management chairman Bill Rudin, bottom (credit: STUDIO SCRIVO))

    Boston Properties may ramp up its investments in Brooklyn in the wake of its latest development deal at the Navy Yard, chief executive Owen Thomas told investors in an earnings call Thursday. [more]

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  • Major REITs “got killed” in Q2

    July 30, 2015 09:45AM
    From left: Marc Holliday, Owen Thomas and Steven Roth

    From left: Marc Holliday, Owen Thomas and Steven Roth

    After a successful first quarter that saw positive shareholder returns and price performance virtually across the board, major New York-focused real estate investment trusts gave it all back in the second quarter – and then some. [more]

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  • From left: Marc Holliday, Owen Thomas and Steven Roth

    From left: Marc Holliday, Owen Thomas and Steven Roth

    In the face of a “maturing” commercial real estate cycle that’s bracing for an interest rate hike, Goldman Sachs this week downgraded SL Green Realty and Vornado Realty Trust, citing a debt-heavy strategy for SL Green and Vornado’s high exposure to a risky high-end Manhattan retail market. In contrast, Boston Properties’ low-cost-capital, high-cash-flow strategy bodes well in the near future, the investment bank said. [more]

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  • 601 Lexington Avenue and Jonathan Gray

    601 Lexington Avenue and Blackstone Group’s head of real estate Jonathan Gray

    Private equity behemoth Blackstone Group is set to expand into Boston Properties’ 601 Lexington Avenue with a 90,000-square-foot lease.

    The firm signed on for 30,000 square feet on the 17th floor in February, and recently picked up its options on the 15th and 16th floors, for another 59,600 square feet, according to the New York Post. [more]

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  • 601 Lexington Avenue

    601 Lexington Avenue

    Boston Properties is looking to renovate the retail space at 601 Lexington Avenue.

    Boston Properties president Douglas Linde announced the improvements at the base of the 59-story, 1.6 million-square-foot former Citigroup headquarters during a REIT convention last week, the Wall Street Journal reported. [more]

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  • REIT Week 2015

    From left: Owen Thomas, Tony Malkin (credit: Max Dworkin) and Glenn Rufrano

    Major New York-focused real estate investment trusts including — including Boston Properties, Empire State Realty Trust and New York REIT — were out in full force at REIT Week 2015, held at the New York Hilton in Midtown. Here are some highlights from Wednesday’s session.

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  • From left: 1633 Broadway and FAO Schwarz at 767 Fifth Avenue

    From left: 1633 Broadway in Midtown and FAO Schwarz facade at the GM Building

    FAO Schwarz is in negotiations to move to Paramount Group’s 1633 Broadway office tower north of Times Square. [more]

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  • FAO Schwarz

    From left: Owen Thomas and FAO Schwarz at 767 Fifth Avenue in Midtown

    Boston Properties may work with FAO Schwarz to “expedite” the toy store’s transition out of the GM Building, the real estate investment trust said in its first-quarter earnings call Tuesday. [more]

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  • REIT executives

    From left: Owen Thomas, Steven Roth, Sam Zell and Marc Holliday

    The major New York-focused real estate investment trusts had a largely successful first quarter in 2015, with most outperforming both the MSCI US REIT Index and the S&P 500 Stock Index by some distance. [more]

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  • 601 Lexington Avenue

    601 Lexington Avenue

    International law firm Kirkland & Ellis has renewed its massive lease at the former Citigroup Center in Midtown, even though the contract doesn’t expire for another four years. [more]

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  • From left: Norges' Yngve Slyngstad, 1095 Sixth Avenue and Blackstone's Jonathan Gray

    From left: Norges’ Yngve Slyngstad, 1095 Sixth Avenue and Blackstone’s Jonathan Gray

    UPDATED, 1:21 p.m., Sept. 17: Fresh off the acquisition of a 45 percent stake in Boston Properties’ 601 Lexington Avenue, the sovereign fund that manages Norway’s substantial oil wealth is making a play for Blackstone Group’s 1095 Sixth Avenue, according to a source familiar with the talks. A deal for the tower, expected to fetch up to $2.25 billion, would be the biggest single office asset sale in New York since the GM Building traded hands in 2008. [more]

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  • Boston Properties' Mortimer Zuckerman and 601 Lexington Avenue

    Boston Properties’ Mortimer Zuckerman and 601 Lexington Avenue

    Norges Bank Investment Management, an arm of the central bank of Norway, has reached an agreement to purchase a 45 percent interest in 601 Lexington Avenue, along with equal shares in two Boston properties, from real estate investment trust Boston Properties for $1.5 billion in cash.

    Norges Bank is also picking up an equal interest share in Boston’s Atlantic Wharf Office Building and 100 Federal Street as part of the deal. Following the agreement, Norges Bank and Boston Properties will form a joint venture for each of the three properties, with the latter retaining property and leasing management. [more]

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  • 250 West 55th Street (center) and Mort Zuckerman

    250 West 55th Street (center) and Boston Properties’ Mort Zuckerman

    Qatari media giant Al Jazeera is swooping into Boston Properties’ spec office tower at 250 West 55th Street. Al Jazeera will take 86,000 square feet on three separate floors, a source familiar with the transaction told The Real Deal. [more]

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  • 250 West 55th Street

    250 West 55th Street

    WEEKENDEDITION Three firms have made deals to occupy a total of 23,265 square feet at the recently-built 250 West 55th Street.

    Veracen Partners, RTW Investments & LifeSci Capital and Coltrane Asset Management have each signed leases for 11,263 square feet, 7,196 square feet and 4,806 square feet, respectively, at the nearly one million square-foot office property at Eighth Avenue. All three companies will occupy a portion of the 16th floor of the 38-story office tower. [more]

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  • From left: 767 Fifth Avenue and Cartier 's former location

    From left: 767 Fifth Avenue and  Saks Fifth Avenue Cartier store

    French jeweler Cartier is taking 8,000 square feet at the GM Building for operations while its Fifth Avenue flagship gets a makeover.

    Cartier’s luxury collections will temporarily head to a 50-story, 1.82 million-square-foot tower at 767 Fifth Avenue starting Friday. [more]

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  • From left: Mort Zuckerman, the GM Building at 767 Fifth Avenue and Ron Baron

    From left: Mort Zuckerman, the GM Building at 767 Fifth Avenue and Ron Baron

    UPDATED, 5:40 p.m., March 20: Money manager Baron Funds, founded by billionaire Ron Baron, is taking another 25,000 square feet at the GM Building, The Real Deal has learned. Along with the expansion on the 47th floor, Baron renewed its space on the 48th and 49th floors of the trophy tower. The fund firm will pay rents starting at just shy of $200 per square foot — and cross the rare $200 threshold over the course of the 20-year deal, sources said. [more]

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  • From left: Peter Turchin and 250 West 55th

    From left: Peter Turchin and 250 West 55th

    Boutique financial service provider Modern Bank has inked a deal for nearly 15,000 square feet at Boston Properties’ 250 West 55th Street.

    The bank is relocating from 667 Madison Avenue and will take 13,200 square feet on the 15th floor of 250 West 55th Street, at Eighth Avenue. Craig Reicher and Christie Harle of CBRE represented the bank, which specializes in leveraged finance, in the deal. [more]

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  • 399-park

    399 Park Avenue and Monday Properties CEO Anthony Westreich

    In the wake of Citigroup’s decision to move its global Park Avenue headquarters after many years, Midtown office landlords are concerned about the fate of the market in that once-dominant corridor. [more]

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  • From left: 250 West 55th Street, Mort Zuckerman and Times Square Tower at 7 Times Square

    From left: 250 West 55th Street, Mort Zuckerman and Times Square Tower at 7 Times Square

    Given the robust capital markets environment, Boston Properties will continue to market trophy assets — such as Times Square Tower — for sale or recapitalization in 2014, executives for the real estate investment trust said yesterday. [more]

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  • 250 West 55th Street (center) and George Soros

    250 West 55th Street (center) and George Soros

    Billionaire George Soros’ investment firm has taken just under 100,000 square feet at Boston Properties’ 250 West 55th Street. Soros Fund Management will take the spec office tower’s penthouse, on the 38th floor, and also floors 26 through 28 in the 15-year deal. [more]

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