secwatch.observer — SEC 8-K summary
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Issuer:     BXP, Inc. (BXP)
CIK:        0001037540
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001656423-23-000020
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BXP Q1 2023 FFO $1.73/share, revenue up 6.5%; commences two life sciences projects in Cambridge
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- Q1 revenue $803.2M (+6.5% YoY); net income $77.9M ($0.50 EPS) vs $143.0M ($0.91 EPS) in Q1 2022.
- FFO $272.0M ($1.73/share) vs $286.1M ($1.82/share) in Q1 2022; FFO beat guidance mid-point by $0.06.
- Commenced development of 290 Binney St (566k sq ft lab, 100% pre-leased to AstraZeneca for 15 years) and redevelopment of 300 Binney St (236k sq ft lab, pre-leased to Broad Institute for 15 years).
- Closed $1.2B term loan facility in Jan 2023; used $730M to repay maturing term loan, net proceeds ~$464M.
- Guidance: Q2 2023 EPS $0.59-$0.61, FFO $1.79-$1.81; FY 2023 EPS $2.30-$2.36, FFO $7.14-$7.20.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1037540/000165642323000020/0001656423-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1037540/000165642323000020/bxp-20230425.htm
  HTML page:      https://secwatch.observer/filing/0001656423-23-000020

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