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Boston Properties eyes Los Angeles as its fifth core market

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

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.

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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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Boston Properties