BOSTON, Nov. 17 /PRNewswire-FirstCall/ -- Boston Properties, Inc. (NYSE: BXP - News), a real estate investment trust, announced that it has completed the financing of its Four Embarcadero Center property located in San Francisco, California. The eight-year, $375 million secured loan bears interest at a fixed rate of 6.10% per annum and was provided by a syndicate of insurance companies. Proceeds from the financing were used to reduce outstanding indebtedness under the Company's unsecured line of credit.
Four Embarcadero Center is a 47-story, Class A office building comprised of approximately 937,000 rentable square feet located in the North Financial District submarket of San Francisco.
Boston Properties is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office properties and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets -- Boston, Midtown Manhattan, Washington, D.C., San Francisco and Princeton, N.J.
Thursday, November 20, 2008
Citi eyes selling businesses, other options-source
NEW YORK, Nov 20 (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) is looking at multiple options as its share price sinks, including selling businesses, selling shares, or merging with another firm, a person familiar with the matter said.
So far discussions regarding its options have been internal, the person said.
Citigroup's shares lost more than a quarter of their value on Thursday and half their value this week amid concerns about the bank's capital position.
So far discussions regarding its options have been internal, the person said.
Citigroup's shares lost more than a quarter of their value on Thursday and half their value this week amid concerns about the bank's capital position.
Analyst upgrades Coca-Cola Enterprises, sees value as stock price and costs trend lower
NEW YORK (AP) -- Shares of Coca-Cola Enterprises rose on Monday, after an analyst upgraded the stock on a decline in the stock price and expected gains from lower costs for raw materials.
JPMorgan analyst John Faucher upgraded the bottler's stock to "Overweight" from "Neutral," expecting sentiment toward the stock to improve over the next few months.
Lower raw material costs should help improve margins, Faucher said, while further gains will come from job cuts, sequential volume growth and distribution of the Monster energy drink.
"We are forecasting significantly less gross margin contraction in 2009, and think gross margin could be up by the end of the year," Faucher wrote in a client note.
Faucher also expects cost savings from a restructuring to add about $40 million to $50 million to operating income in 2009.
The stock price has declined 62 percent so far this year, he said, as the company "missed massively" on earnings in 2008.
"While no company we cover faces as many issues as Coca-Cola Enterprises, no company looks as cheap, either," Faucher wrote.
JPMorgan analyst John Faucher upgraded the bottler's stock to "Overweight" from "Neutral," expecting sentiment toward the stock to improve over the next few months.
Lower raw material costs should help improve margins, Faucher said, while further gains will come from job cuts, sequential volume growth and distribution of the Monster energy drink.
"We are forecasting significantly less gross margin contraction in 2009, and think gross margin could be up by the end of the year," Faucher wrote in a client note.
Faucher also expects cost savings from a restructuring to add about $40 million to $50 million to operating income in 2009.
The stock price has declined 62 percent so far this year, he said, as the company "missed massively" on earnings in 2008.
"While no company we cover faces as many issues as Coca-Cola Enterprises, no company looks as cheap, either," Faucher wrote.
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