BofA Said In Tentative Deal To Sell Boston Tower For $600 Million To Boston Properties -Report

Date : 02/14/2012 @ 1:01PM
Source : Dow Jones News
Stock : Boston Properties, Inc. (BXP)
Quote : 123.47  1.52 (1.25%) @ 4:03PM

BofA Said In Tentative Deal To Sell Boston Tower For $600 Million To Boston Properties -Report

Bank of America (NYSE:BAC)
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Bank of America Corp. (BAC) has struck a tentative deal to sell its 37-story office building in Boston's financial district to Boston Properties Inc. (BXP) for about $600 million, the Boston Globe reported Tuesday on its website, citing people familiar with the agreement.

The building, built in 1971, formerly served as headquarters for Bank of Boston and its successor, FleetBoston Financial, prior to Bank of America's purchase of Fleet in 2004.

Bank of America spokesman Kelli Raulerson declined comment on a deal with Boston Properties but noted that the bank is considering the sale of office buildings across the country. A sale of the office tower, however, would not affect local employees as the bank would lease back space from a new owner, Raulerson said, according to the report.

Boston Properties declined comment.

Full story at:

-Dow Jones Newswires; 212-416-2900


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