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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2023
Real Estate Properties [Line Items] |
Schedule of Real Estate Properties | BXP Real estate consisted of the following at December 31, 2023 and December 31, 2022 (in thousands):
|  | December 31, 2023 |  | December 31, 2022
Land |  | $ | 5,251,224 |  |  | $ | 5,189,811 |
Right of use assets - finance leases (1) |  | 401,680 |  |  | 237,510 |
Right of use assets - operating leases (1) |  | 324,298 |  |  | 167,351 |
Land held for future development (2) |  | 697,061 |  |  | 721,501 |
Buildings and improvements |  | 16,607,756 |  |  | 15,820,724 |
Tenant improvements |  | 3,592,172 |  |  | 3,200,743 |
Furniture, fixtures and equipment |  | 53,716 |  |  | 50,310 |
Construction in progress |  | 547,280 |  |  | 406,574 |
Total |  | 27,475,187 |  |  | 25,794,524 |
Less: Accumulated depreciation |  | (6,881,728) |  |  | (6,298,082) |
|  | $ | 20,593,459 |  |  | $ | 19,496,442 |
_______________ (1)See Note 4. (2)Includes pre-development costs.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes the scheduled amortization of the Company’s acquired “above-” and “below-market” lease intangibles for each of the five succeeding years (in thousands).
|  | Acquired Above-Market Lease Intangibles |  | Acquired Below-Market Lease Intangibles
2024 |  | $ | 3,985 |  |  | $ | 9,961 |
2025 |  | 1,880 |  |  | 9,756 |
2026 |  | 982 |  |  | 8,602 |
2027 |  | 743 |  |  | 5,432 |
2028 |  | 605 |  |  | 2,125 |
Santa Monica Business Park [Member] |
Real Estate Properties [Line Items] |
Asset Acquisition | The following table summarizes the allocation of the relative fair value of the net assets the Company received at the date of acquisition for Santa Monica Business Park (in thousands):
Land and site improvements | $ | 46,360 |
Building and improvements | 390,305 |
Tenant improvements | 20,116 |
In-place lease intangibles | 74,022 |
Above-market lease intangibles | 6,715 |
Below-market lease intangibles | (4,630) |
Ground lease intangible | (46,659) |
Mortgage note payable adjustment | 4,491 |
Net assets acquired | $ | 490,720 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes the estimated annual amortization of the acquired in-place lease intangibles, acquired ground lease intangible and the acquired above- and below-market lease intangibles for Santa Monica Business Park for each of the five succeeding fiscal years (in thousands):
|  | Acquired In-Place Lease Intangibles |  | Acquired Ground Lease Intangible |  | Acquired Above-Market Lease Intangibles |  | Acquired Below-Market Lease Intangible
2024 |  | $ | 32,362 |  |  | $ | 10,979 |  |  | $ | 3,584 |  |  | $ | 1,109 |
2025 |  | 20,782 |  |  | 10,979 |  |  | 1,491 |  |  | 944 |
2026 |  | 7,986 |  |  | 10,979 |  |  | 593 |  |  | 910 |
2027 |  | 4,078 |  |  | 10,979 |  |  | 354 |  |  | 910 |
2028 |  | 2,726 |  |  | 2,193 |  |  | 216 |  |  | 553 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The following table summarizes the weighted-average useful life of the acquired in-place lease intangibles, acquired ground lease intangible and the acquired above- and below-market lease intangibles for Santa Monica Business Park as of the acquisition (in years):
|  | Acquired In-Place Lease Intangibles |  | Acquired Ground Lease Intangible |  | Acquired Above-Market Lease Intangibles |  | Acquired Below-Market Lease Intangible
Weighted-average useful life |  | 2.9 |  | 4.2 |  | 2.3 |  | 5.1
Boston Properties Limited Partnership |
Real Estate Properties [Line Items] |
Schedule of Real Estate Properties | BPLP Real estate consisted of the following at December 31, 2023 and December 31, 2022 (in thousands):
|  | December 31, 2023 |  | December 31, 2022
Land |  | $ | 5,156,515 |  |  | $ | 5,095,102 |
Right of use assets - finance leases (1) |  | 401,680 |  |  | 237,510 |
Right of use assets - operating leases (1) |  | 324,298 |  |  | 167,351 |
Land held for future development (2) |  | 697,061 |  |  | 721,501 |
Buildings and improvements |  | 16,336,200 |  |  | 15,547,919 |
Tenant improvements |  | 3,592,172 |  |  | 3,200,743 |
Furniture, fixtures and equipment |  | 53,716 |  |  | 50,310 |
Construction in progress |  | 547,280 |  |  | 406,574 |
Total |  | 27,108,922 |  |  | 25,427,010 |
Less: Accumulated depreciation |  | (6,758,361) |  |  | (6,180,474) |
|  | $ | 20,350,561 |  |  | $ | 19,246,536 |
_______________ (1)See Note 4. (2)Includes pre-development costs.

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