Boston Properties Said to Enter L.A. Market With Office Deal

Updated on
  • REIT said to buy 50% share of Colorado Center from Blackstone
  • Price is about $500 million for stake in Santa Monica complex

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.

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