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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2025
Real Estate Properties [Line Items] |
Schedule of Real Estate Properties | Real estate consisted of the following at December 31, 2025 and December 31, 2024 (in thousands):
|  | BXP |  | BPLP
|  | December 31, 2025 |  | December 31, 2024 |  | December 31, 2025 |  | December 31, 2024
Land |  | $ | 5,243,760 |  |  | $ | 5,318,724 |  |  | $ | 5,151,246 |  |  | $ | 5,224,015 |
Right of use assets - finance leases |  | 372,470 |  |  | 372,922 |  |  | 372,470 |  |  | 372,922 |
Right of use assets - operating leases |  | 325,841 |  |  | 334,767 |  |  | 325,841 |  |  | 334,767 |
Land held for future development (1) |  | 518,492 |  |  | 714,050 |  |  | 518,492 |  |  | 714,050 |
Buildings and improvements |  | 16,908,060 |  |  | 17,149,702 |  |  | 16,643,092 |  |  | 16,878,146 |
Tenant improvements |  | 4,042,150 |  |  | 3,866,371 |  |  | 4,042,150 |  |  | 3,866,371 |
Furniture, fixtures and equipment |  | 54,160 |  |  | 57,136 |  |  | 54,160 |  |  | 57,136 |
Construction in progress |  | 1,475,257 |  |  | 764,640 |  |  | 1,475,257 |  |  | 764,640 |
Total |  | 28,940,190 |  |  | 28,578,312 |  |  | 28,582,708 |  |  | 28,212,047 |
Less: Accumulated depreciation |  | (8,040,311) |  |  | (7,528,057) |  |  | (7,906,629) |  |  | (7,397,882) |
|  | $ | 20,899,879 |  |  | $ | 21,050,255 |  |  | $ | 20,676,079 |  |  | $ | 20,814,165 |
_______________ (1)Includes pre-development costs.
Realized Gain Loss On Sale of Real Estate | The following table represents the assets that were sold during the year ended December 31, 2025 (dollars in thousands):
|  |  |  |  |  |  |  | Gross Sales Price |  | Net Cash Proceeds |  | Gain on Sale (1)
Property |  | Location |  | Date Disposed |  | Square Feet |  |  |  | BXP |  | BPLP
Land: |  |  |  |  |  |  |  |  |  |  |  |  |  |
17 Hartwell Avenue (2) | Lexington, MA |  | June 27, 2025 |  | 30,000 |  |  | $ | 21,840 |  |  | $ | 21,840 |  |  | $ | 18,390 |  |  | $ | 18,489 |
Land Parcels at New Dominion Technology Park |  | Fairfax County, VA |  | October 15, 2025 |  | N/A |  | 250 |  |  | 248 |  |  | 248 |  |  | 248 |
Almaden Boulevard |  | San Jose, CA |  | October 17, 2025 |  | N/A |  | 13,500 |  |  | 12,659 |  |  | 124 |  |  | 124 |
Land Parcels at Broad Run |  | Loudoun County, VA | December 1, 2025 |  | N/A |  | 37,500 |  |  | 36,613 |  |  | 35,418 |  |  | 35,418 |
3625 Peterson Way |  | San Jose, CA |  | December 11, 2025 | N/A |  | 90,000 |  |  | 78,908 |  |  | 10,662 |  |  | 10,662 |
|  |  |  |  |  | 30,000 |  |  | 163,090 |  |  | 150,268 |  |  | 64,842 |  |  | 64,941 |
Residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proto Kendall Square |  | Cambridge, MA |  | December 18, 2025 | 166,700 |  |  | 171,500 |  |  | 169,413 |  |  | 53,276 |  |  | 53,276 |
Signature at Reston Town Center |  | Reston, VA |  | December 19, 2025 | 517,800 |  |  | 236,000 |  |  | 234,327 |  |  | 49,584 |  |  | 49,584 |
|  |  |  |  |  | 684,500 |  |  | 407,500 |  |  | 403,740 |  |  | 102,860 |  |  | 102,860 |
Office: |  |  |  |  |  |  |  |  |  |  |  |
140 Kendrick Street |  | Needham, MA |  | December 17, 2025 | 409,200 |  |  | 132,000 |  |  | 128,506 |  |  | 7,306 |  |  | 9,796 |
|  |  |  |  |  | 409,200 |  |  | 132,000 |  |  | 128,506 |  |  | 7,306 |  |  | 9,796 |
Total Dispositions |  |  |  |  |  | 1,123,700 |  |  | $ | 702,590 |  |  | $ | 682,514 |  |  | $ | 175,008 |  |  | $ | 177,597 |
_______________ (1)Excludes approximately $1.7 million of gains for each of BXP and BPLP, which are primarily related to sales that occurred in prior periods. With the exception of Almaden Boulevard, the fair value of the real estate disposed exceeded the carrying value (see “Impairments” below). (2)The Company entered into a joint venture with a third-party to redevelop, own and operate this property. The Company sold the land to the joint venture for approximately $21.8 million in cash. Upon formation of the joint venture, the Company ceased accounting for the property on a consolidated basis and began accounting for the joint venture on an unconsolidated basis using the equity method of accounting, as it does not have a controlling financial or operating interest in the joint venture (See Note 6). The building has been demolished.
Details of Impairment of Long-Lived Assets Held and Used by Asset | The impairment losses consisted of the following (in thousands):
Property |  | Location |  | Property Type |  | BXP |  | BPLP
Almaden Boulevard |  | San Jose, CA |  | Land |  | $ | 25,515 |  |  | $ | 25,515 |
1330 Connecticut Avenue |  | Washington, DC |  | Office |  | 20,358 |  |  | 17,461 |
North First Business Park (1) | San Jose, CA |  | Office |  | 14,971 |  |  | 14,955 |
Shady Grove – Parcel 3 |  | Rockville, MD |  | Land |  | 13,913 |  |  | 13,913 |
Springfield Metro Center |  | Springfield, VA |  | Land |  | 11,046 |  |  | 11,046 |
|  |  |  |  |  | $ | 85,803 |  |  | $ | 82,890 |
______________ (1)See Note 17.
Boston Properties Limited Partnership |
Real Estate Properties [Line Items] |
Schedule of Real Estate Properties | Real estate consisted of the following at December 31, 2025 and December 31, 2024 (in thousands):
|  | BXP |  | BPLP
|  | December 31, 2025 |  | December 31, 2024 |  | December 31, 2025 |  | December 31, 2024
Land |  | $ | 5,243,760 |  |  | $ | 5,318,724 |  |  | $ | 5,151,246 |  |  | $ | 5,224,015 |
Right of use assets - finance leases |  | 372,470 |  |  | 372,922 |  |  | 372,470 |  |  | 372,922 |
Right of use assets - operating leases |  | 325,841 |  |  | 334,767 |  |  | 325,841 |  |  | 334,767 |
Land held for future development (1) |  | 518,492 |  |  | 714,050 |  |  | 518,492 |  |  | 714,050 |
Buildings and improvements |  | 16,908,060 |  |  | 17,149,702 |  |  | 16,643,092 |  |  | 16,878,146 |
Tenant improvements |  | 4,042,150 |  |  | 3,866,371 |  |  | 4,042,150 |  |  | 3,866,371 |
Furniture, fixtures and equipment |  | 54,160 |  |  | 57,136 |  |  | 54,160 |  |  | 57,136 |
Construction in progress |  | 1,475,257 |  |  | 764,640 |  |  | 1,475,257 |  |  | 764,640 |
Total |  | 28,940,190 |  |  | 28,578,312 |  |  | 28,582,708 |  |  | 28,212,047 |
Less: Accumulated depreciation |  | (8,040,311) |  |  | (7,528,057) |  |  | (7,906,629) |  |  | (7,397,882) |
|  | $ | 20,899,879 |  |  | $ | 21,050,255 |  |  | $ | 20,676,079 |  |  | $ | 20,814,165 |
_______________ (1)Includes pre-development costs.
Realized Gain Loss On Sale of Real Estate | The following table represents the assets that were sold during the year ended December 31, 2025 (dollars in thousands):
|  |  |  |  |  |  |  | Gross Sales Price |  | Net Cash Proceeds |  | Gain on Sale (1)
Property |  | Location |  | Date Disposed |  | Square Feet |  |  |  | BXP |  | BPLP
Land: |  |  |  |  |  |  |  |  |  |  |  |  |  |
17 Hartwell Avenue (2) | Lexington, MA |  | June 27, 2025 |  | 30,000 |  |  | $ | 21,840 |  |  | $ | 21,840 |  |  | $ | 18,390 |  |  | $ | 18,489 |
Land Parcels at New Dominion Technology Park |  | Fairfax County, VA |  | October 15, 2025 |  | N/A |  | 250 |  |  | 248 |  |  | 248 |  |  | 248 |
Almaden Boulevard |  | San Jose, CA |  | October 17, 2025 |  | N/A |  | 13,500 |  |  | 12,659 |  |  | 124 |  |  | 124 |
Land Parcels at Broad Run |  | Loudoun County, VA | December 1, 2025 |  | N/A |  | 37,500 |  |  | 36,613 |  |  | 35,418 |  |  | 35,418 |
3625 Peterson Way |  | San Jose, CA |  | December 11, 2025 | N/A |  | 90,000 |  |  | 78,908 |  |  | 10,662 |  |  | 10,662 |
|  |  |  |  |  | 30,000 |  |  | 163,090 |  |  | 150,268 |  |  | 64,842 |  |  | 64,941 |
Residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proto Kendall Square |  | Cambridge, MA |  | December 18, 2025 | 166,700 |  |  | 171,500 |  |  | 169,413 |  |  | 53,276 |  |  | 53,276 |
Signature at Reston Town Center |  | Reston, VA |  | December 19, 2025 | 517,800 |  |  | 236,000 |  |  | 234,327 |  |  | 49,584 |  |  | 49,584 |
|  |  |  |  |  | 684,500 |  |  | 407,500 |  |  | 403,740 |  |  | 102,860 |  |  | 102,860 |
Office: |  |  |  |  |  |  |  |  |  |  |  |
140 Kendrick Street |  | Needham, MA |  | December 17, 2025 | 409,200 |  |  | 132,000 |  |  | 128,506 |  |  | 7,306 |  |  | 9,796 |
|  |  |  |  |  | 409,200 |  |  | 132,000 |  |  | 128,506 |  |  | 7,306 |  |  | 9,796 |
Total Dispositions |  |  |  |  |  | 1,123,700 |  |  | $ | 702,590 |  |  | $ | 682,514 |  |  | $ | 175,008 |  |  | $ | 177,597 |
_______________ (1)Excludes approximately $1.7 million of gains for each of BXP and BPLP, which are primarily related to sales that occurred in prior periods. With the exception of Almaden Boulevard, the fair value of the real estate disposed exceeded the carrying value (see “Impairments” below). (2)The Company entered into a joint venture with a third-party to redevelop, own and operate this property. The Company sold the land to the joint venture for approximately $21.8 million in cash. Upon formation of the joint venture, the Company ceased accounting for the property on a consolidated basis and began accounting for the joint venture on an unconsolidated basis using the equity method of accounting, as it does not have a controlling financial or operating interest in the joint venture (See Note 6). The building has been demolished.
Details of Impairment of Long-Lived Assets Held and Used by Asset | The impairment losses consisted of the following (in thousands):
Property |  | Location |  | Property Type |  | BXP |  | BPLP
Almaden Boulevard |  | San Jose, CA |  | Land |  | $ | 25,515 |  |  | $ | 25,515 |
1330 Connecticut Avenue |  | Washington, DC |  | Office |  | 20,358 |  |  | 17,461 |
North First Business Park (1) | San Jose, CA |  | Office |  | 14,971 |  |  | 14,955 |
Shady Grove – Parcel 3 |  | Rockville, MD |  | Land |  | 13,913 |  |  | 13,913 |
Springfield Metro Center |  | Springfield, VA |  | Land |  | 11,046 |  |  | 11,046 |
|  |  |  |  |  | $ | 85,803 |  |  | $ | 82,890 |
______________ (1)See Note 17.

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