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Real Estate | 3 Months Ended
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Mar. 31, 2022
Real Estate [Abstract] |
Real Estate | 3. Real Estate BXP Real estate consisted of the following at March 31, 2022 and December 31, 2021 (in thousands):
|  | March 31, 2022 |  | December 31, 2021
Land |  | $ | 5,059,311 |  |  | $ | 5,061,169 |
Right of use assets - finance leases |  | 237,501 |  |  | 237,507 |
Right of use assets - operating leases |  | 169,248 |  |  | 169,778 |
Land held for future development (1) |  | 582,511 |  |  | 560,355 |
Buildings and improvements |  | 14,410,242 |  |  | 14,291,214 |
Tenant improvements |  | 2,951,838 |  |  | 2,894,025 |
Furniture, fixtures and equipment |  | 51,549 |  |  | 51,695 |
Construction in progress |  | 846,775 |  |  | 894,172 |
Total |  | 24,308,975 |  |  | 24,159,915 |
Less: Accumulated depreciation |  | (5,995,760) |  |  | (5,883,961) |
|  | $ | 18,313,215 |  |  | $ | 18,275,954 |
_______________ (1)Includes pre-development costs. BPLP Real estate consisted of the following at March 31, 2022 and December 31, 2021 (in thousands):
|  | March 31, 2022 |  | December 31, 2021
Land |  | $ | 4,963,374 |  |  | $ | 4,964,986 |
Right of use assets - finance leases |  | 237,501 |  |  | 237,507 |
Right of use assets - operating leases |  | 169,248 |  |  | 169,778 |
Land held for future development (1) |  | 582,511 |  |  | 560,355 |
Buildings and improvements |  | 14,133,781 |  |  | 14,014,010 |
Tenant improvements |  | 2,951,838 |  |  | 2,894,025 |
Furniture, fixtures and equipment |  | 51,549 |  |  | 51,695 |
Construction in progress |  | 846,775 |  |  | 894,172 |
Total |  | 23,936,577 |  |  | 23,786,528 |
Less: Accumulated depreciation |  | (5,882,385) |  |  | (5,772,018) |
|  | $ | 18,054,192 |  |  | $ | 18,014,510 |
_______________ (1)Includes pre-development costs. Pending Acquisition On April 19, 2021, the Company entered into an agreement to acquire 11251 Roger Bacon Drive, in Reston, Virginia, for an aggregate purchase price of approximately $5.6 million. 11251 Roger Bacon Drive is an approximately 65,000 square foot office building situated on approximately 2.6 acres. The property is 100% leased to a single tenant with a lease that expires concurrently with the planned closing (See Note 12). Disposition On March 31, 2022, the Company completed the sale of 195 West Street located in Waltham, Massachusetts for a gross sale price of $37.7 million. Net cash proceeds totaled approximately $35.4 million, resulting in a gain on sale of real estate totaling approximately $22.7 million for BXP and approximately $23.4 million for BPLP. 195 West Street is an approximately 63,500 net rentable square foot Class A office property. 195 West Street contributed approximately $0.4 million of net income to the Company for the three months ended March 31, 2022 and contributed approximately $0.2 million of net loss to the Company for the three months ended March 31, 2021.

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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