Boston Properties, GIC, CPP Form Co-Investment Program To Buy U.S. Office Buildings

Boston Properties isn’t shying away from its core business of downtown office buildings anytime soon.
The publicly traded developer has formed a $1B co-investment program with the Canada Pension Plan Investment Board and GIC, the sovereign wealth fund of Singapore, the three entities announced in a press release on Wednesday. The fund will focus on acquiring office properties in BXP’s markets of focus: New York, San Francisco, Boston, Washington, D.C., Los Angeles and Seattle.
BXP will contribute $250M, serve as the general partner and manage the properties the trio acquires. CPP Investments will also contribute $250M, while GIC will furnish the remaining $500M, according to the…

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