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Boston Properties and the Moinian Group Announce Their Partnership on the Development of 3 Hudson Boulevard, a Premier Class A Office Development on Manhattan's Far West Side

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Boston Properties (BXP), today announced an agreement to purchase a
minority interest in and become the Managing Partner of a partnership
with The Moinian Group to develop 3 Hudson Boulevard, a 2.0
million-square-foot, Class A office tower located on the entire square
block between 11th Avenue and Hudson Boulevard Park from West 34th
Street to West 35th Street.

Said John Powers, EVP of BXP, "3 Hudson Boulevard is clearly one of the
most exciting large office sites in Manhattan and, with foundations in
place, we expect it will be ready for vertical construction for an
anchor tenant in the second quarter of 2019, with occupancy in the first
half of 2023. The building, which will be 57 stories tall, sits just to
the north of the massive Hudson Yards development, and will have some of
the best light, views, green spaces and transportation options anywhere
in the City."

Said Joseph Moinian, Founder and CEO of the Moinian Group, "Boston
Properties is one of the country's pre-eminent developers with an
outstanding track record in bringing landmark buildings to fruition, and
we are delighted to partner with them on the crown jewel of our
portfolio. BXP shares our commitment to tenant-landlord relationships
and industry-leading building management making them a perfect partner
on this important project. We fully expect 3 Hudson Boulevard will be
one of the most desirable office addresses on the Far West Side for
generations to come."

Designed by the prominent architect Dan Kaplan FAIA, LEED, of
FXCollaborative, 3 Hudson Boulevard will include 50K square-foot plates
in the podium, 30K-37K square-foot, column-free floor plates in the
tower office floors, 10-foot-high finished ceilings, and
floor-to-ceiling windows. The tower's architecture integrates the best
practices of workplace design and efficiency, allowing tenants to
densify operations while maintaining an open, flexible, light-filled
environment. Additionally, a number of meticulously designed outdoor
spaces have been incorporated into the building's design, providing
tenants with unprecedented views of the Far West Side in a private,
outdoor setting that is prime for social and community gatherings.

JLL facilitated the capital transaction and will be the leasing agent
for the newly formed project led by Peter Riguardi, Chairman and
President of the New York Region.

About Boston Properties

Boston Properties is a fully integrated real estate company organized as
a real estate investment trust that develops, redevelops, acquires,
manages, operates and owns a diverse portfolio of primarily Class A
office space totaling, at March 31, 2018, 50.3 million square feet and
consisting of 167 office properties (including nine properties under
construction), six residential properties (including four properties
under construction), five retail properties and one hotel. The Company
is one of the largest owners and developers of Class A office properties
in the United States, concentrated in five markets - Boston, Los
Angeles, New York, San Francisco and Washington, DC. For more
information about Boston Properties, please visit the Company's web site
at www.bostonproperties.com.

About The Moinian Group

Founded by Joseph Moinian, The Moinian Group is one of the largest
private developers in the U.S., with a portfolio exceeding 20 million
square feet, including 4 million square feet along Manhattan's 11th
Avenue. The Moinian Group today owns and operates a diversified
portfolio of assets across the United States and is among the only
national real estate entities to develop, own and operate properties
across every asset category, including office, hotel, retail, condos and
rental apartments. The Moinian Group's holdings include high-profile
assets in America's leading cities, including New York, Dallas and Los
Angeles. For the past three decades, The Moinian Group has been a
pioneer in the development of emerging areas of New York City such as
Downtown and West Side of Manhattan, developing commercial, residential
and mixed-use projects that combine luxury living, modern office space
and high quality retail. The Moinian Group maintains a reputation for
developing state-of-the-art, aesthetically distinguished properties as
the firm continues to strive for excellence. More information on the
Moinian Group and its portfolio can be found at www.moinian.com.

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