BXP to sell Sumner Square DC property for $63 million, recording ~$18 million impairment
On May 27, 2026, a BXP subsidiary agreed to sell three Washington, DC buildings on Sumner Square for a gross price of $63 million, as part of the asset sales plan from its September 2025 Investor Day. Because the property's carrying value exceeds expected net proceeds, BXP will record a non-cash impairment loss of approximately $18 million in the second quarter of 2026, which the company expects to cut earnings per diluted share by about $0.10 but not affect Funds from Operations. The sale is not assured to close on current terms.
Key points
- Gross purchase price of $63 million for the Sumner Square leasehold and three buildings in Washington, DC
- Non-cash impairment loss of approximately $18 million at BXP, Inc. and $17 million at BPLP, recorded in Q2 2026
- Expected reduction of about $0.10 per diluted share/unit to net income for Q2 and full-year 2026; no impact on Funds from Operations
- Buyer paid a non-refundable cash deposit of approximately $6 million, to be credited at closing
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.