Office REITs find an open door in the bond market
Office REITs join landlords in raising nearly $2.5 billion in debt, equity this week
MarketWatch | By Joy Wiltermuth
Top owners of high-quality office properties were among a batch of public real-estate investment trusts that raised nearly $2.5 billion in debt and equity in the past week.
BXP, Inc., formerly known as Boston Properties, borrowed $850 million in the corporate bond market, while Cousin Properties Inc. raised $500 million, according to BofA Global Data.
A total of $29 billion in fresh U.S. investment-grade corporate bonds were issued in the week through Thursday, per BofA Global, with trading levels narrowing about five basis points on average, indicating demand for the debt issuance.