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BRIEF-Boston Properties to buy 49.8 pct interest in Colorado Center
May 24, 2016 / 9:26 PM / a year ago

BRIEF-Boston Properties to buy 49.8 pct interest in Colorado Center

May 25 (Reuters) - Boston Properties Inc

* Agreed upon gross value for 49.8 pct interest is approximately $511.1 million

* Expects to pay purchase price using existing cash balances

* Boston properties inc says boston properties will be managing partner of joint venture

* Estimates that acquisition will increase its projected 2016 diluted funds from operations by approximately $0.05 per share

* There is currently no debt on property

* Impact of acquisition was not included in Boston properties' most recent earnings guidance issued on April 26, 2016

* Estimates that acquisition will increase its projected 2016 diluted funds from operations by approximately $0.05 per share

* Boston Properties set to enter new market; signs agreement to acquire a 49.8 pct interest in Colorado Center in Santa Monica, California Source text for Eikon: Further company coverage:

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