Boston Properties (NYSE:BXP) climbed 2.6% in today's trade following a Bloomberg report that the Canada Pension Plan Investment Board is in talks about taking a stake in a California office park that the REIT recently agreed to buy from Blackstone for more than $600M.

The pension fund - Canada's biggest - would buy a portion of the 1.2M sq. ft. Santa Monica Business Park, according to the report, which was unable to specify the size of the equity stake being discussed.

The Santa Monica office park, which spans 47 acres and includes 15 office and six retail buildings, presents an opportunity for growth because of its below-market rents, BXP has said.

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