Boston Properties, Inc. announced that it completed the acquisition of Safeco Plaza, a 50-story, 800,000 square-foot, LEED-Platinum certified, Class A office property in Seattle, Washington. Safeco Plaza is currently 90% leased. This acquisition marks the Company’s initial entry into the Seattle market, one of the most dynamic office markets in the U.S. for companies in the technology, life sciences, financial services, and manufacturing sectors. BXP completed the acquisition through a newly formed joint venture with two institutional partners for an aggregate gross purchase price of approximately $465.0 million. Each partner owns approximately one-third (1/3rd) of the joint venture, and BXP will serve as the joint venture’s managing member and provide customary property management, leasing and other services. BXP expects to account for its investment in the joint venture under the equity method of accounting.