Real estate investment trust Boston Properties Inc. has reported $149.6 million in funds from operations (FFO) for the first quarter, compared to $134.8 million in FFO for the same period last year.
FFO for the quarter ended March 31 includes income of 5-cents per share on a diluted basis related to the suspension of construction on the company’s 250 West 55th St. development project in New York City.
FFO for the quarter ended March 31, 2009 includes a charge of 19-cents per share on a diluted basis related to suspending construction on the same property, according to a statement.
Net income available to common shareholders was $52.7 million for the first quarter, compared to $44.6 million for the same period last year.
As of March 31, the company’s portfolio consisted of 143 properties, comprised primarily of Class A office space, one hotel, two residential properties and three retail properties, aggregating approximately 37.6 million square feet, including five properties under construction totaling 2 million square feet, according to a statement.
