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BXP
BXP · NYSEReal Estate (Office REIT)
The economic chain
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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Capitalwho funds itThe REITwho owns & developsPropertyportfoliothe buildingsLeasing &managementwho fills & runs itTenantswho rents the spaceEnd demandwhat drives it$Investors & index fundsDEBTBond & mortgage lendersNBIMNorges Bank (NBIM)BXPBXPLPBXP Limited PartnershipOFFPremier office towersLABLife-science labsMIXRetail, residential & hotelBRKCBRE / JLL brokersOPSBXP leasing & developmentLAWLaw firmsFINBanks & asset managersTECHTechnology tenantsAZNAstraZenecaRXPharma & biotechBIZBusinesses & enterprisesYOUWorkers & the publicGOVGovernments & rates
Company details
Market cap
~$11B
Div yield
~5%
FFO / share
~$7.0
Revenue
~$3.5B
Portfolio
~53M sq ft
Properties
~185
Markets
6 gateway
Occupancy
~87%
In plain English
BXP (formerly Boston Properties) is the largest publicly traded developer and owner of premier 'Class A' workplaces in the US. It concentrates on six high-density gateway markets — Boston, New York, San Francisco, Washington DC, Seattle and Los Angeles — leasing trophy office and life-science space to blue-chip law firms, banks, tech and pharma tenants, and paying out the rent as dividends. It is a 'flight-to-quality' bet on the best buildings as the office market splits.
In simple terms
What BXP really sells
BXP (formerly Boston Properties) is the largest publicly traded developer and owner of premier 'Class A' workplaces in the US. It concentrates on six high-density gateway markets — Boston, New York, San Francisco, Washington DC, Seattle and Los Angeles — leasing trophy office and life-science space to blue-chip law firms, banks, tech and pharma tenants, and paying out the rent as dividends. It is a 'flight-to-quality' bet on the best buildings as the office market splits.
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Risk read
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