logo
Plus   Neg
Share
Email

Boston Properties Issues Update On May Rent Collections - Quick Facts

Boston Properties, Inc. (BXP) reported that, for the month of May, the company collected more than 97% of its total rent payments from office tenants due May 1. Rent collections from all tenants, including retail, were 93% in total.

With regard to leasing productivity, the company said it recently signed approximately 870,000 square feet of new leases and renewals including a new 12-year lease with Microsoft Corp. for approximately 400,000 square feet at Reston Town Center in Reston, Virginia.

The company said it continues to maintain a strong liquidity position with $3.3 billion of total liquidity consisting of $1.7 billion of cash, $151 million of cash held in 1031 exchange escrow, as well as $1.5 billion available under its unsecured revolving credit facility as of May 5, 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT