Equity Office Properties has paid $597 million to buy 23.5 million shares, including $36.6 million so far this year for 1.4 million shares.
So far this year, Equity Office Properties has spent more than $150 million on acquisitions, almost all of it buying out partners in 1301 Avenue of the Americas in New York City.
"Our shares continue to offer us an attractive investment opportunity in today's market," says president and chief executive officer Richard D. Kincaid. "We plan to execute the program primarily with proceeds from asset sales, and do not anticipate borrowing to fund share repurchases."
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