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Real Estate
 3 Months Ended
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, 2025December 31, 2024
Land$5,319,140 $5,318,724 
Right of use assets - finance leases372,845 372,922 
Right of use assets - operating leases330,129 334,767 
Land held for future development (1)730,944 714,050 
Buildings and improvements17,198,604 17,149,702 
Tenant improvements3,902,214 3,866,371 
Furniture, fixtures and equipment56,532 57,136 
Construction in progress907,989 764,640 
Total28,818,397 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, 2025December 31, 2024
Land$5,224,431 $5,224,015 
Right of use assets - finance leases372,845 372,922 
Right of use assets - operating leases330,129 334,767 
Land held for future development (1)730,944 714,050 
Buildings and improvements16,927,048 16,878,146 
Tenant improvements3,902,214 3,866,371 
Furniture, fixtures and equipment56,532 57,136 
Construction in progress907,989 764,640 
Total28,452,132 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).