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On its Q1 2021 earnings call, CEO Owen Thomas announced that Boston Properties is forming a JV with two unnamed sovereign wealth funds to form a $2 billion investment venture.

The investment venture will help Boston Properties better compete for opportunities in its core markets, which remain competitive, according to Thomas. Thomas said the partnership will help the REIT enhance its financial resources, execution speed and return. The company will announce the completion of the alliance and the participants once documentation is complete. That is likely to occur in the next month.

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