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NEW YORK CITY-Boston Properties said late Friday afternoon it had closed on its acquisition of 510 Madison Ave. from Macklowe Properties, a $280.5-million deal first reported last month. Separately, SL Green Realty Corp. said in a statement that the closing, and the retirement of debt SL Green held in conjunction with the boutique officer tower, was the main factor in raising its full-year earnings guidance from about $4 per share to $4.75.

At the start of 2010, SL Green had bought the first mortgage loan and senior mezzanine loan on 510 Madison, with a then-outstanding aggregate balance of $249.3 million, for $180.5 million. The sale to BPX, which in 2008 paid $3.95 billion for the General Motors Building and other Macklowe assets, meant SL Green received full repayment of the loans. SL Green says it has realized an unleveraged IRR of 55% on its investment.

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