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Real Estate (Tables)

9 Months Ended

Sep. 30, 2025

Real Estate Properties [Line Items]

Schedule of Real Estate Properties

BXP

Real estate consisted of the following at September 30, 2025 and December 31, 2024 (in thousands):

						September 30, 2025						December 31, 2024
Land						$	5,309,234					$	5,318,724
Right of use assets - finance leases						372,747						372,922
Right of use assets - operating leases						321,063						334,767
Land held for future development (1)						562,909						714,050
Buildings and improvements						17,312,118						17,149,702
Tenant improvements						4,042,562						3,866,371
Furniture, fixtures and equipment						60,353						57,136
Construction in progress						1,322,608						764,640
Total						29,303,594						28,578,312
Less: Accumulated depreciation						(8,008,908)						(7,528,057)
						$	21,294,686					$	21,050,255

_______________

(1)Includes pre-development costs.

Details of Impairment of Long-Lived Assets Held and Used by Asset

BXP

BXP recognized impairment losses of approximately $68.9 million during the three and nine months ended September 30, 2025. The impairment losses consisted of the following (in thousands):

Property

Location

Property Type

Amount

Plaza at Almaden (1)

San Jose, CA

Land

$

25,515

1330 Connecticut Avenue

Washington, DC

Office

20,358

Shady Grove – Parcel 3

Rockville, MD

Land

13,913

North First Business Park

San Jose, CA

Office

9,115

$

68,901

_______________

(1)See Note 14.

Boston Properties Limited Partnership

Real Estate Properties [Line Items]

Schedule of Real Estate Properties

BPLP

Real estate consisted of the following at September 30, 2025 and December 31, 2024 (in thousands):

						September 30, 2025						December 31, 2024
Land						$	5,215,723					$	5,224,015
Right of use assets - finance leases						372,747						372,922
Right of use assets - operating leases						321,063						334,767
Land held for future development (1)						562,909						714,050
Buildings and improvements						17,044,157						16,878,146
Tenant improvements						4,042,562						3,866,371
Furniture, fixtures and equipment						60,353						57,136
Construction in progress						1,322,608						764,640
Total						28,942,122						28,212,047
Less: Accumulated depreciation						(7,875,405)						(7,397,882)
						$	21,066,717					$	20,814,165

_______________

(1)Includes pre-development costs.

Details of Impairment of Long-Lived Assets Held and Used by Asset

BPLP

BPLP recognized impairment losses of approximately $66.0 million during the three and nine months ended September 30, 2025. The impairment losses consisted of the following (in thousands):

Property

Location

Property Type

Amount

Plaza at Almaden (1)

San Jose, CA

Land

$

25,515

1330 Connecticut Avenue

Washington, DC

Office

17,460

Shady Grove – Parcel 3

Rockville, MD

Land

13,913

North First Business Park

San Jose, CA

Office

9,100

$

65,988

_______________

(1)See Note 14.

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