Boston Properties, Inc. (NYSE:BXP) agreed to acquire 27% stake in 200 Fifth Avenue office building in Manhattan from L&L Holding Company, LLC for approximately $280 million on October 25, 2022. The purchase price includes $120.1 million in cash and assumption of a pro rata interest $160.1 million of the outstanding mortgage, which matures in November 2028. L&L Holding Co. will own remaining 73% stake in 200 Fifth Avenue post acquisition. Boston Properties has raised $280.2 million in order to fund the transaction. The transaction is expected to close by the end of the year. Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Boston Properties, Inc.

Boston Properties, Inc. (NYSE:BXP) completed the acquisition of 27% stake in 200 Fifth Avenue office building in Manhattan from L&L Holding Company, LLC on November 17, 2022.