Boston Properties has announced an offering of approximately $500 million worth of senior unsecured notes that it expects to complete by year-end.The Boston-based office and industrial real estate investment trust said it intends to use the proceeds from the offering to repay part of a bridge loan it used to finance its acquisition of 399 Park Avenue in Midtown Manhattan earlier this year. The REIT paid a little over $1 billion for that property, which was acquired from Citigroup. The notes will be offered only to "qualified institutional buyers" and to certain foreign institutional investors, the REIT said.
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