Deals
Boston Properties Said to Enter L.A. Market With Office Deal
- REIT said to buy 50% share of Colorado Center from Blackstone
- Price is about $500 million for stake in Santa Monica complex
This article is for subscribers only.
Boston Properties Inc. agreed to buy a 50 percent stake in a Los Angeles-area office complex from Blackstone Group LP for about $500 million, marking the real estate investment trust’s first purchase in southern California, according to a person with knowledge of the matter.
The landlord is acquiring an interest in the Colorado Center in Santa Monica, said the person, who asked not to be named because the transaction is private. The six-building campus is in an area known as Silicon Beach, a stretch of oceanfront communities that’s popular with technology companies.