"This increase in our line of credit will provide us withadditional capacity to fund our ongoing and future developmentactivities, future land and property purchases and workingcapital," says Boston Properties senior vice president Douglas T.Linde.
The three-year-old REIT is currently amassing its portfolio viaboth investments and new construction, including an 865,000-sfoffice tower now underway at its Prudential Center mixed-usecomplex in Boston's Back Bay.
The firm also last week acknowledged it is buying 265 FranklinSt. in Boston's Financial District for $97 million, sharing theownership with a New York state pension fund. Along with holdingsthroughout Eastern Massachusetts, Boston Properties also ownsproperties and development sites in Northern Virginia and GreaterSan Francisco.
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