Boston Properties (BXP) Commences 10.5 Million Share Offering

Boston Properties, Inc. (NYSE: BXP) has commenced a public offering of 10,500,000 shares of common stock. The company expects to grant the underwriters an overallotment option to purchase up to 1,575,000 additional shares of common stock.

The Company intends to use the net proceeds for general business purposes, which may include investment opportunities and debt reduction.

Boston Properties is a self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office properties and one hotel. [SM]