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Real Estate (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate Properties [Line Items]

Schedule of Real Estate Properties

Boston Properties, Inc.

Real estate consisted of the following at September 30, 2021 and December 31, 2020 (in thousands):

						September 30, 2021						December 31, 2020
Land						$	5,065,704					$	5,069,206
Right of use assets - finance leases						237,845						237,393
Right of use assets - operating leases (1)						170,085						146,406
Land held for future development (2)						568,034						450,954
Buildings and improvements						14,118,587						13,777,691
Tenant improvements						2,853,531						2,752,880
Furniture, fixtures and equipment						51,013						49,606
Construction in progress						1,054,531						868,773
Total						24,119,330						23,352,909
Less: Accumulated depreciation						(5,850,397)						(5,534,102)
						$	18,268,933					$	17,818,807

_______________

(1)See Note 4.

(2)Includes pre-development costs.

153 & 211 Second Avenue [Member]

Real Estate Properties [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the allocation of the purchase price, including transaction costs, of 153 & 211 Second Avenue at the date of acquisition (in thousands):

Land						$	33,233
Building and improvements						53,309
Tenant improvements						2,631
In-place lease intangibles						13,415
Below-market lease intangibles						(2,412)
Net assets acquired						$	100,176

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the estimated annual amortization of the acquired in-place lease intangibles

and the acquired below-market lease intangibles for 153 & 211 Second Avenue for the remainder of 2021 through the last lease expiration (in thousands):

						Acquired In-Place Lease Intangibles						Acquired Below-Market Lease Intangibles
Period from June 2, 2021 through December 31, 2021						$	5,202					$	935
2022						8,213						1,477

Shady Grove Bio+Tech Campus

Real Estate Properties [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the allocation of the purchase price, including transaction costs, of Shady Grove Bio+Tech Campus at the date of acquisition (in thousands):

Land						$	52,030
Building and improvements						63,060
Tenant improvements						1,152
In-place lease intangibles						2,523
Above-market lease intangibles						142
Below-market lease intangibles						(403)
Net assets acquired						$	118,504

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the estimated annual amortization of the acquired in-place lease intangibles

and the acquired above/below-market lease intangibles for Shady Grove Bio+Tech Campus from August 2, 2021 through the last lease expiration (in thousands):

						Acquired In-Place Lease Intangibles						Acquired Above-Market Lease Intangibles						Acquired Below-Market Lease Intangibles
Period from August 2, 2021 through December 31, 2021						$	838					$	31					$	102
2022						1,478						74						236
2023						151						25						39
2024						56						12						26

Boston Properties Limited Partnership

Real Estate Properties [Line Items]

Schedule of Real Estate Properties

Boston Properties Limited Partnership

Real estate consisted of the following at September 30, 2021 and December 31, 2020 (in thousands):

						September 30, 2021						December 31, 2020
Land						$	4,968,851					$	4,971,990
Right of use assets - finance leases						237,845						237,393
Right of use assets - operating leases (1)						170,085						146,406
Land held for future development (2)						568,034						450,954
Buildings and improvements						13,839,945						13,498,098
Tenant improvements						2,853,531						2,752,880
Furniture, fixtures and equipment						51,013						49,606
Construction in progress						1,054,531						868,773
Total						23,743,835						22,976,100
Less: Accumulated depreciation						(5,739,625)						(5,428,576)
						$	18,004,210					$	17,547,524

_______________

(1)See Note 4.

(2)Includes pre-development costs.

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