June 5, 2009 (FinancialWire) — Boston Properties, Inc. (NYSE: BXP) said it has launched a public offering of 10.5 million shares of common stock. The company plans to grant the underwriters an overallotment option to purchase up to 1.575 million additional shares of common stock.

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

Boston-based Boston Properties is a real estate investment trust that develops, redevelops, acquires, manages, operates and owns a portfolio of class A office properties and one hotel.

The company is concentrated in the Boston, Midtown Manhattan, Washington, D.C., San Francisco and Princeton, N.J. markets.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.