In a prepared statement, senior VP for financial and capital markets Douglas T. Linde stated that the new funds will go for "ongoing and future development activities, future land and property purchases and working capital."
In a follow-up interview, investor relations director Elaine Quinlan admitted that specific development activities had not yet been defined. But in terms of the ongoing work, Boston Properties currently has some $1.1 billion of projects--some 13 jobs--in the pipeline. "The last of these," she told GlobeSt.com, will be delivered in the second quarter of '02."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
