M&A Deal Summary

BXP Acquires John Hancock Tower and Garage

On December 29, 2010, BXP acquired real estate company John Hancock Tower and Garage for 930M USD

Acquisition Highlights
  • This is BXP’s 6th transaction in the Real Estate sector.
  • This is BXP’s 2nd largest (disclosed) transaction.
  • This is BXP’s 6th transaction in the United States.
  • This is BXP’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2010-12-29
Target John Hancock Tower and Garage
Sector Real Estate
Buyer(s) BXP
Deal Type Add-on Acquisition
Deal Value 930M USD
Advisor(s) Allen Overy Shearman Sterling (A&O Shearman) (Legal)

Target

John Hancock Tower and Garage

Boston,, Massachusetts, United States
The John Hancock Tower is an iconic 62-story, approximately 1,700,000 rentable square foot office tower located in the heart of Boston's Back Bay neighborhood. The garage is an eight-level, 2,013 space parking facility. As New England's tallest building, the John Hancock Tower features a 360-degree panoramic view of the Back Bay, Charles River, Cambridge, the Public Gardens, Boston Harbor and Financial District.

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Buyer(S) 1

Buyer

BXP

Boston, Massachusetts, United States
Category Company
Founded 1970
Sector Real Estate
Employees836
Revenue 3.3B USD (2023)
DESCRIPTION

BXP is a self-administered and self-managed real estate investment trust and one of the largest owners, managers and developers of Class A office properties in the United States, with a significant presence in five markets: Boston, New York, Princeton, San Francisco, and Washington, DC. BXP was founded in 1970 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 6 of 9
Sector (Real Estate) 6 of 9
Type (Add-on Acquisition) 1 of 4
State (Massachusetts) 1 of 2
Country (United States) 6 of 9
Year (2010) 2 of 2
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-24 510 Madison Avenue in New York City

New York,, New York, United States

510 Madison Avenue is a newly-constructed, top-of-the-line, vacant 350,000 square foot Class A office tower located in the highly desirable Plaza District of midtown Manhattan. The Company expects to fund approximately $15 million to complete the construction of the base building, which amount excludes future tenant improvement costs and leasing commissions.

Buy $275M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-01 Bay Colony Corporate Center in Waltham

Waltham, Massachusetts, United States

Bay Colony Corporate Center is an approximately 1,000,000 rentable square foot Class A office park located in the premier suburban Boston office market of Waltham. The four-building office park is situated on a 58-acre hilltop site with panoramic views of the Cambridge Reservoir, Waltham and the City of Boston skyline.

Buy $185M
Mergr

Product

Company

Legal