was speculated last week

"The idea of a REIT like Boston Properties or any other REIT for that matter stepping up to the plate and doing a deal here is that they bring a lot to the table," Anthony Paolone, an analyst at JP Morgan, tells GlobeSt.com. "They are liquid, they are good operators, they know the market, they know the assets and they have the ability to underwrite and close quickly on the transaction." he says.

On the two-million-sf GM Building, located between 58th and 59th streets at Fifth Avenue and Central Park South, the firm is assuming $1.9 billion of secured and mezzanine loans. That part of the deal is set to close next month.

Boston Properties is also buying the 292,000-sf 540 Madison Ave. building at Madison and 55th Street, a 591,000-sf office building at 125 W. 55th St., and the 664,000-sf Two Grand Central Tower at 44th Street between Lexington and Third avenues. Those deals are being financed with a combination of secured and mezzanine loans and are expected to close after the GM Building.