Equity Office to Buy Beacon Properties

Equity Office Properties Trust, headed by financier Sam Zell, agreed to buy Beacon Properties Corp. for $4 billion in stock and assumed debt, in a deal that would join two of the largest U.S. office building owners. The purchase would create a company controlling 233 properties with about 55 million square feet of space. The move is part of Zell’s strategy to be the biggest owner of real estate in all his property types--offices, apartments and mobile homes. Chicago-based Equity Office Properties, the U.S.’ largest office real estate investment trust, with $5 billion in assets and 36 million square feet, went public about two months ago. Boston-based Beacon Properties is the No.