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Boston bxp Properties Boston Properties Announces Second Quarter 2021 Results ; Reports EPS of $ 0.71 and FFO Per Share of $ 1.72 July 27 , 2021 Exceeds EPS and FFO Guidance for Q2 ; Announces Acquisitions to Establish a New Market Presence in Seattle , Broaden its Life Sciences Portfolio and Expand into NYC's Midtown South Submarket BOSTON -- ( BUSINESS WIRE ) -- Jul . 27 , 2021-- Boston Properties , Inc. ( NYSE : BXP ) , the largest publicly - traded developer , owner and manager of Class A office properties in the United States , reported results today for the second quarter ended June 30 , 2021 . Financial highlights for the second quarter include : • Net income attributable to common shareholders of $ 111.7 million , or $ 0.71 per diluted share ( EPS ) , compared to $ 266.5 million , or $ 1.71 per diluted share , for the quarter ended June 30 , 2020. The decrease in EPS in the second quarter of 2021 was due to gains on asset sales in the second quarter of 2020 that did not reoccur in 2021 . • Funds from Operations ( FFO ) of $ 268.6 million , or $ 1.72 per diluted share , compared to FFO of $ 236.9 million , or $ 1.52 per diluted share , for the quarter ended June 30 , 2020 . o FFO of $ 1.72 per diluted share was $ 0.12 greater than the mid - point of the Company's second quarter guidance provided on April 27 , 2021 , primarily due to improved portfolio performance of $ 0.06 , higher - than - projected parking , hotel and retail income of $ 0.03 and higher - than - projected termination income of $ 0.03 in the quarter . The improved portfolio performance in the quarter included approximately $ 0.03 of lower - than - projected expenses that have been deferred into the third quarter of 2021 . The Company provided guidance for the third of quarter 2021 with projected EPS of $ 1.28 - $ 1.30 and projected FFO of $ 1.68 - $ 1.70 per diluted share . See " EPS and FFO per Share Guidance " below . Second quarter and recent business highlights include : ● Signed approximately 1.2 million square feet of leases in the second quarter with a weighted - average lease term of 7.5 years . This reflects leasing volume of more than double the total square feet of leases executed in first quarter of 2021 . Notable leases signed during the second quarter include : o a 351,000 square - foot , seven - year lease with a leading entertainment company at Colorado Center , in Santa Monica , California . o a 140,000 square - foot expansion lease with a technology company at Santa Monica Business Park in Santa Monica , California . o a 98,000 square - foot , 12 - year lease with a large consulting company at Metropolitan Square in Washington , DC . o a 77,000 square - foot lease expansion and extension with a technology security company in Reston , Virginia . o a 36,000 square - foot lease extension with a technology provider in Waltham , Massachusetts . o a 26,000 square - foot lease extension with a legal services company at Embarcadero Center in San Francisco , California . o a 25,000 square - foot , 11 - year lease expansion with a financial services company at 399 Park Avenue in New York , New York . • Secured several new acquisitions during and subsequent to the quarter including : o Safeco Plaza , an 800,000 square - foot Class A office building in Seattle , Washington . The property is approximately 90 % leased . This marks BXP's initial entry into the Seattle market , one of the most vibrant markets in the U.S. for companies in the technology , life sciences , manufacturing and financial services sectors . The Company expects to close the acquisition in September 2021 for a purchase price of approximately $ 465 million . BXP expects to purchase this in a joint venture and hold up to a 51 % ownership in the property . o 360 Park Avenue South , a 450,000 square - foot 20 - story office property located in the Midtown South submarket of Manhattan , New York . The property is fully leased to a single tenant who will be vacating in late 2021 providing BXP with the opportunity to complete extensive upgrades and transform the property into a premier modern building that will attract Class A clients . The Company expects to close the acquisition in December 2021 for a purchase price of approximately $ 300 million , including the assumption of approximately $ 202 million of debt and the issuance of approximately $ 98 million of operating partnership units . o Shady Grove Bio + Tech Campus , consisting of seven buildings totaling approximately 435,000 square - feet in the Shady Grove area of Rockville , Maryland , a region that is home to more than 400 companies in the biotechnology and life sciences sector . BXP plans to convert the office buildings on the campus to lab to meet current and growing demand in the region from biotechnology companies for new , Class A lab space . The Company expects to