BOSTON-According to Elaine Quinlan, director of investor relations for Boston Properties, the proceeds of the offering will be used to fund a portion of the company’s development pipeline. “As of September 30, our development pipeline is $1.3 billion,” she says, adding, “We own or control additional parcels that total about $1 billion.” Until such developments and/or acquisitions require capital, the company will use the net proceeds to reduce borrowings and to increase cash and cash equivalents.

Boston Properties’ concentration is in four core markets: Boston, Washington, DC, New York City and San Francisco. “As a public company, we are looking at transactions all the time to see if they’re a good fit,” says Quinlan.

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