XML 29 R11.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Real Estate | 3 Months Ended
--- | ---
Mar. 31, 2018
Real Estate [Abstract] |
Real Estate | 3. Real Estate Boston Properties, Inc. Real estate consisted of the following at March 31, 2018 and December 31, 2017 (in thousands):
| March 31, 2018 |  | December 31, 2017
Land | $ | 5,105,376 |  |  | $ | 5,080,679 |
Land held for future development (1) | 204,506 |  |  | 204,925 |
Buildings and improvements | 12,435,573 |  |  | 12,284,164 |
Tenant improvements | 2,266,796 |  |  | 2,219,608 |
Furniture, fixtures and equipment | 41,507 |  |  | 37,928 |
Construction in progress | 1,262,886 |  |  | 1,269,338 |
Total | 21,316,644 |  |  | 21,096,642 |
Less: Accumulated depreciation | (4,674,838 | ) |  | (4,589,634 | )
| $ | 16,641,806 |  |  | $ | 16,507,008 |
_______________
(1) | Includes pre-development costs.
Boston Properties Limited Partnership Real estate consisted of the following at March 31, 2018 and December 31, 2017 (in thousands):
| March 31, 2018 |  | December 31, 2017
Land | $ | 5,001,810 |  |  | $ | 4,976,303 |
Land held for future development (1) | 204,506 |  |  | 204,925 |
Buildings and improvements | 12,130,901 |  |  | 11,977,062 |
Tenant improvements | 2,266,796 |  |  | 2,219,608 |
Furniture, fixtures and equipment | 41,507 |  |  | 37,928 |
Construction in progress | 1,262,886 |  |  | 1,269,338 |
Total | 20,908,406 |  |  | 20,685,164 |
Less: Accumulated depreciation | (4,580,949 | ) |  | (4,496,959 | )
| $ | 16,327,457 |  |  | $ | 16,188,205 |
_______________
(1) | Includes pre-development costs.
Development On January 24, 2018, the Company entered into a lease agreement with Leidos for a build-to-suit project with approximately 276,000 net rentable square feet of Class A office space at the Company's 17Fifty Presidents Street development project located in Reston, Virginia. Concurrently with the execution of the lease, the Company commenced development of the project and expects the building to be completed and available for occupancy during the second quarter of 2020. On January 31, 2018, the Company partially placed in-service its Signature at Reston development project comprised of 508 apartment units and retail space aggregating approximately 515,000 square feet located in Reston, Virginia. On February 23, 2018, the Company entered into a lease agreement with Fannie Mae to lease approximately 850,000 net rentable square feet of Class A office space at the Company's Reston Gateway development project located in Reston, Virginia. The initial phase of the project will consist of approximately 1.1 million net rentable square feet. The Company expects to begin construction in the second half of 2018 upon receipt of all necessary approvals. Dispositions On January 9, 2018, the Company completed the sale of its 500 E Street, S.W. property located in Washington, DC for a net contract sale price of approximately $118.6 million. Net cash proceeds totaled approximately $116.1 million, resulting in a gain on sale of real estate totaling approximately $96.4 million for Boston Properties, Inc. and approximately $98.9 million for Boston Properties Limited Partnership. 500 E Street, S.W. is an approximately 262,000 net rentable square foot Class A office property. 500 E Street, S.W. contributed approximately $0.1 million of net income to the Company for the period from January 1, 2018 through January 8, 2018 and contributed approximately $1.6 million of net income to the Company for the three months ended March 31, 2017.

X
- References No definition available. + Details
Name: | us-gaap_RealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 + Details
Name: | us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration