BXP · 10-Q · 2026Q3 · Full report
Acquisitions and Divestitures
BXP, Inc. · 2026-11-06 · Importance 46 · Surprise 42 · Contradicted
During the third quarter of 2026, BXP sold Sumner Square and 1330 Connecticut Avenue in Washington, DC, for aggregate gross proceeds of approximately $155.4 million and net proceeds of approximately $150.3 million, recognizing gains of approximately $10.5 million. BXP reported approximately $519.5 million of net asset-sale proceeds during 2026 and approximately $1.4 billion since its September 2025 Investor Conference. It also sold an approximately 10.55% direct and indirect equity interest in the 343 Madison Avenue development project, reducing its equity commitment while retaining control of development, leasing, and property management. Separately, BXP entered into a $1.2 billion construction loan for 343 Madison Avenue, reducing its remaining share of equity needed to complete the development pipeline from approximately $1.7 billion to $748.2 million.
Key facts
- Four BXP assets were under contract for sale; if completed, the transactions would bring aggregate dispositions to approximately $1.5 billion.
- For the nine months ended September 30, 2026, BXP received $294.234 million from sales of real estate and $215.058 million from sales of investments in unconsolidated joint ventures.
- BXP generated approximately $519.5 million of net sale proceeds during 2026 and approximately $1.4 billion from asset sales since its September 2025 Investor Conference.
- During the third quarter of 2026, BXP sold Sumner Square and 1330 Connecticut Avenue in Washington, DC, for aggregate gross proceeds of approximately $155.4 million, net proceeds of approximately $150.3 million, and gains on real estate sales of approximately $10.5 million.
- BXP sold an approximately 10.55% direct and indirect equity interest in the 343 Madison Avenue development for approximately $50.7 million.
- BXP sold a 10.55% direct and indirect ownership interest in 343 Madison Avenue on September 23, 2026; the property was in development.
- From January 1, 2025 through October 30, 2026, BXP completed 20 sales transactions; its share of aggregate gross sales price was approximately $1.6 billion and its share of net proceeds was approximately $1.4 billion.
- BXP sold an approximately 10.55% direct and indirect equity interest in the 343 Madison Avenue development project, generating capital and preserving full control of development, leasing, and property management.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | probable | +2.9% | Four BXP assets were under contract for sale; if completed, the transactions would bring aggregate dispositions to approximately $1.5… |
| cash | positive | realized | +2.0% | BXP generated approximately $519.5 million of net sale proceeds during 2026 and approximately $1.4 billion from asset sales since its… |
| cash | positive | realized | +1.9% | For the nine months ended September 30, 2026, BXP received $294.234 million from sales of real estate and $215.058 million from sales of… |