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Real Estate | 3 Months Ended
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Mar. 31, 2025
Real Estate [Abstract] |
Real Estate | 3. Real Estate BXP Real estate consisted of the following at March 31, 2025 and December 31, 2024 (in thousands):
|  | March 31, 2025 |  | December 31, 2024
Land |  | $ | 5,319,140 |  |  | $ | 5,318,724 |
Right of use assets - finance leases |  | 372,845 |  |  | 372,922 |
Right of use assets - operating leases |  | 330,129 |  |  | 334,767 |
Land held for future development (1) |  | 730,944 |  |  | 714,050 |
Buildings and improvements |  | 17,198,604 |  |  | 17,149,702 |
Tenant improvements |  | 3,902,214 |  |  | 3,866,371 |
Furniture, fixtures and equipment |  | 56,532 |  |  | 57,136 |
Construction in progress |  | 907,989 |  |  | 764,640 |
Total |  | 28,818,397 |  |  | 28,578,312 |
Less: Accumulated depreciation |  | (7,699,234) |  |  | (7,528,057) |
|  | $ | 21,119,163 |  |  | $ | 21,050,255 |
_______________ (1)Includes pre-development costs. BPLP Real estate consisted of the following at March 31, 2025 and December 31, 2024 (in thousands):
|  | March 31, 2025 |  | December 31, 2024
Land |  | $ | 5,224,431 |  |  | $ | 5,224,015 |
Right of use assets - finance leases |  | 372,845 |  |  | 372,922 |
Right of use assets - operating leases |  | 330,129 |  |  | 334,767 |
Land held for future development (1) |  | 730,944 |  |  | 714,050 |
Buildings and improvements |  | 16,927,048 |  |  | 16,878,146 |
Tenant improvements |  | 3,902,214 |  |  | 3,866,371 |
Furniture, fixtures and equipment |  | 56,532 |  |  | 57,136 |
Construction in progress |  | 907,989 |  |  | 764,640 |
Total |  | 28,452,132 |  |  | 28,212,047 |
Less: Accumulated depreciation |  | (7,567,356) |  |  | (7,397,882) |
|  | $ | 20,884,776 |  |  | $ | 20,814,165 |
_______________ (1)Includes pre-development costs. Development On January 16, 2025, the Company partially placed in-service Reston Next Retail, a retail project with approximately 33,000 net rentable square feet located in Reston, Virginia. On March 31, 2025, the Company commenced the redevelopment of 1050 Winter Street in Waltham, Massachusetts. 1050 Winter Street is a redevelopment of an approximately 162,000 net rentable square foot office property. The project is fully pre-leased (See Note 14).

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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://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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