Boston Properties CEO dies at 68

Edward Linde, the 68-year-old co-founder and chief executive officer of Boston Properties has died following complications from pneumonia.

The US office REIT said in a statement Mortimer Zuckerman, co-founder and chairman of Boston Properties’ board had assumed the role of chief executive officer.

We spoke almost every day and found the opportunity to laugh at both the ups and downs of the real estate business. He will be greatly missed by all of us at the company and our hearts and prayers go out to his family. Mortimer Zuckerman

Linde passed away on Sunday. Zuckerman, who founded the business with Linde in 1970, said: “We spoke almost every day and found the opportunity to laugh at both the ups and downs of the real estate business. He will be greatly missed by all of us at the company and our hearts and prayers go out to his family.”

Linde had been gradually passing day-to-day duties of his role onto his son since 2007, when Douglas Linde succeeded him as president, a spokeswoman confirmed. She added Zuckerman remained in charge of the company as CEO.

In May 2008, Boston Properties led a consortium of investors in buying New York City’s landmark GM Building and three other skyscrapers from troubled developer Harry Macklowe for a total price tag of $3.95 billion, setting a record for a New York office building at the time.

The consortium, including a fund managed by Goldman Sachs and Dubai-based private equity firm Meraas Capital, a paid approximately $2.8 billion for the landmark GM Building, on the corner of Fifth Avenue and 59th Street.

The trio also acquired a 39-storey tower at 540 Madison Avenue, a 23-storey tower at 125 West 55th Street and the 44-storey Two Grand Central Tower from Macklowe in the deal.