XML 49 R27.htm IDEA: XBRL DOCUMENT v3.25.4

SEC Schedule, Article 12-28, Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2025

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]

Item 15. Exhibits and Financial Statement Schedules.

(a) Financial Statement Schedule 

BXP, Inc. Schedule 3—Real Estate and Accumulated Depreciation December 31, 2025 (dollars in thousands)
Property Name						Type						Location						Encumbrances						Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
																																													Land																																																			Building
																								767 Fifth Avenue (the General Motors Building)						Office															New York, NY																																																			$	2,294,992					$	1,796,252					$	1,532,654					$	423,940					$	1,796,247					$	1,956,599					$	—					$	—					$	3,752,846					$	614,923					1968/2019						2013						(1)
Prudential Center						Office						Boston, MA						—						92,077						948,357						862,028						115,639						1,786,823						—						—						1,902,462						871,069						1965/1993/2002/2016-2017/2024						1998/1999/2000						(1)
Embarcadero Center						Office						San Francisco, CA						—						179,697						847,410						597,249						195,986						1,428,370						—						—						1,624,356						873,659						1970/1989						1998-1999						(1)
399 Park Avenue						Office						New York, NY						—						339,200						700,358						431,612						354,107						1,117,063						—						—						1,471,170						564,004						1961/2018						2002						(1)
601 Lexington Avenue						Office						New York, NY						991,878						241,600						494,782						569,220						289,639						1,015,963						—						—						1,305,602						429,085						1977/1997/2021						2001						(1)
200 Clarendon Street and Garage						Office						Boston, MA						—						219,543						667,884						311,929						258,001						941,355						—						—						1,199,356						392,736						1976						2010						(1)
Salesforce Tower						Office						San Francisco, CA						—						200,349						946,205						4,149						200,349						950,354						—						—						1,150,703						214,753						2018						2013						(1)
250 West 55th Street						Office						New York, NY						—						285,263						603,167						49,995						285,263						653,162						—						—						938,425						232,085						2014						2007						(1)
100 Federal Street						Office						Boston, MA						—						131,067						435,954						154,169						131,067						590,123						—						—						721,190						209,057						1971-1975/2017						2012						(1)
7 Times Square						Office						New York, NY						—						165,413						380,438						159,914						169,193						536,572						—						—						705,765						279,693						2004						2000						(1)
Madison Centre						Office						Seattle, WA						—						104,641						564,336						5,672						104,641						570,008						—						—						674,649						76,377						2017						2022						(1)
Santa Monica Business Park						Office						Los Angeles, CA						199,302						46,360						410,421						217,684						210,471						462,459						1,535						—						674,465						36,680						1976-1980						2023						(1)
Carnegie Center						Office						Princeton, NJ						—						142,666						316,856						194,968						94,243						501,021						59,226						—						654,490						294,418						1983-2016						1998/1999/2000/2007/2014/2017/2019						(1)
Reston Next						Office						Reston, VA						—						35,549						525,277						17,150						2,901						575,075						—						—						577,976						69,776						2022						1998						(1)
Atlantic Wharf						Office						Boston, MA						—						63,988						454,537						45,916						63,988						500,453						—						—						564,441						210,601						2011						2007						(1)
2100 Pennsylvania Avenue						Office						Washington, DC						—						185,203						324,206						5,228						185,203						329,434						—						—						514,637						48,475						2023						N/A						(1)
599 Lexington Avenue						Office						New York, NY						—						81,040						100,507						285,903						87,852						379,598						—						—						467,450						218,359						1986						1997						(1)
Fountain Square						Office						Reston, VA						—						56,853						306,298						60,266						56,853						366,564						—						—						423,417						132,865						1986-1990						2012						(1)
510 Madison Avenue						Office						New York, NY						—						103,000						253,665						50,416						103,000						304,081						—						—						407,081						113,410						2012						2010						(1)
325 Main Street						Office						Cambridge, MA						—			(2)			21,596						312,492						55,404						21,596						367,896						—						—						389,492						35,634						2022						1997						(1)
680 Folsom Street						Office						San Francisco, CA						—						72,545						219,766						18,167						72,545						237,933						—						—						310,478						92,143						2014						2012						(1)
2200 Pennsylvania Avenue						Office						Washington, DC						—						—						183,541						125,161						100,592						208,110						—						—						308,702						83,117						2011						2008						(1)
145 Broadway						Office						Cambridge, MA						—						121						273,013						26,980						23,367						276,747						—						—						300,114						52,401						2019						1997						(1)
South of Market and Democracy Tower						Office						Reston, VA						—						13,603						237,479						36,878						13,687						274,273						—						—						287,960						128,007						2008-2009						2003						(1)
Bay Colony Corporate Center						Office						Waltham, MA						—						18,789						148,451						95,783						18,789						241,400						2,834						—						263,023						122,700						1985-1989/2025						2011						(1)
535 Mission Street						Office						San Francisco, CA						—						40,933						148,378						14,409						40,934						162,786						—						—						203,720						53,063						2015						2013						(1)
Reservoir Place						Office						Waltham, MA						—						18,605						104,124						65,883						20,108						168,504						—						—						188,612						97,426						1955/1987/2017						1997/1998						(1)

BXP, Inc. Schedule 3—Real Estate and Accumulated Depreciation December 31, 2025 (dollars in thousands)
Property Name						Type						Location						Encumbrances						Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
Property Name						Type						Location						Encumbrances						Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
Property Name						Type						Location						Encumbrances						Land						Building						Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
901 New York Avenue						Office						Washington, DC						197,682						65,808						72,970						45,671						65,808						118,641						—						—						184,449						8,414						2004						2024						(1)
Mountain View Research Park						Office						Mountain View, CA						—						95,066						68,373						20,266						95,066						88,639						—						—						183,705						41,187						1977-1981/2007-2013						2013						(1)
One Freedom Square						Office						Reston, VA						—						9,929						84,504						49,956						11,293						133,096						—						—						144,389						78,607						2000						2003						(1)
Two Freedom Square						Office						Reston, VA						—						13,930						77,739						47,125						15,420						123,374						—						—						138,794						56,636						2001						2003						(1)
Kingstowne Towne Center						Office						Alexandria, VA						—						18,021						109,038						5,303						18,062						113,370						930						—						132,362						61,105						2003-2006						2007						(1)
One and Two Reston Overlook						Office						Reston, VA						—						16,456						66,192						48,958						16,179						115,427						—						—						131,606						68,795						1999						2000						(1)
Weston Corporate Center						Office						Weston, MA						—						25,753						92,312						10,816						25,854						103,027						—						—						128,881						47,039						2010						2001						(1)
1330 Connecticut Avenue						Office						Washington, DC						—						25,982						82,311						18,088						20,792						105,589						—						—						126,381						60,339						1984/2018						2004						(1)
Discovery Square						Office						Reston, VA						—						11,198						71,782						34,141						12,533						104,588						—						—						117,121						66,246						2001						2003						(1)
17Fifty Presidents Street						Office						Reston, VA						—						—						113,362						162						—						113,524						—						—						113,524						25,408						2020						2013						(1)
355 Main Street						Office						Cambridge, MA						596,213						18,863						53,346						38,834						21,173						89,870						—						—						111,043						42,355						1981/1996/2013						2006						(1)
Waltham Weston Corporate Center						Office						Waltham, MA						—						10,385						60,694						25,992						11,097						85,974						—						—						97,071						51,285						2003						1999						(1)
Sumner Square						Office						Washington, DC						—						624						28,745						66,049						27,014						68,404						—						—						95,418						32,631						1985						1999						(1)
10 CityPoint						Office						Waltham, MA						—						1,953						85,752						7,285						2,288						92,702						—						—						94,990						29,905						2016						1997						(1)
90 Broadway						Office						Cambridge, MA						—			(2)			19,104						52,078						22,168						20,785						72,565						—						—						93,350						35,825						1983/1998/2013						2006						(1)
230 CityPoint						Office						Waltham, MA						—						13,189						49,823						25,922						13,807						75,127						—						—						88,934						45,147						1992						2005						(1)
77 CityPoint						Office						Waltham, MA						—						13,847						60,383						11,356						14,023						71,563						—						—						85,586						33,830						2008						2001						(1)
20 CityPoint						Office						Waltham, MA						—						4,887						72,764						7,072						4,887						79,836						—						—						84,723						19,881						2020						2007						(1)
Wisconsin Place						Office						Chevy Chase, MD						—						—						53,349						26,485						—						79,834						—						—						79,834						33,776						2009						2004						(1)
Shady Grove Innovation District						Office						Rockville, MD						—						52,030						64,212						(37,955)						18,812						24,468						35,007						—						78,287						6,279						1968-1985						2021						(1)
2440 West El Camino Real						Office						Mountain View, CA						—						16,741						51,285						6,629						16,741						57,914						—						—						74,655						25,436						1987/2003						2011						(1)
890 Winter Street						Office						Waltham, MA						—						13,913						28,557						26,191						13,913						54,748						—						—						68,661						12,778						1999						2019						(1)
Reston Corporate Center						Office						Reston, VA						—						9,135						50,857						4,489						10,148						54,333						—						—						64,481						36,950						1984						1998						(1)
255 Main Street						Office						Cambridge, MA						—						134						25,110						33,909						548						58,605						—						—						59,153						47,704						1987						1997						(1)
University Place						Office						Cambridge, MA						—						—						37,091						13,714						3,435						47,370						—						—						50,805						39,872						1985						1998						(1)
Reston Next Office Phase II						Office						Reston, VA						—						1,692						46,124						—						1,692						46,124						—						—						47,816						642						N/A						1998						(1)
Capital Gallery						Office						Washington, DC						—						4,725						29,565						11,465						8,662						37,093						—						—						45,755						25,455						1981/2006						2007						(1)
150 Broadway						Office						Cambridge, MA						—						850						25,042						15,749						1,323						40,318						—						—						41,641						21,863						1999						1997						(1)
North First Business Park						Office						San Jose, CA						—						23,398						13,069						472						17,839						19,100						—						—						36,939						18,340						1981						2007						(1)
105 Broadway						Office						Cambridge, MA						—						1,299						12,943						12,723						2,395						24,570						—						—						26,965						19,381						1990						1997						(1)
Lexington Office Park						Office						Lexington, MA						—						998						1,426						19,907						1,263						19,393						1,675						—						22,331						17,593						1982						1997						(1)
The Point						Office						Waltham, MA						—						6,395						10,040						546						6,492						10,489						—						—						16,981						3,291						2015						2007						(1)
690 Folsom Street						Office						San Francisco, CA						—						3,219						11,038						1,877						3,219						12,915						—						—						16,134						5,165						2015						2012						(1)
Avant Retail						Office						Reston, VA						—						1,499						6,647						2,577						1,499						9,224						—						—						10,723						4,104						2014						2010						(1)
32 Hartwell Avenue						Office						Lexington, MA						—						168						1,943						6,394						314						8,191						—						—						8,505						3,659						1968/1979/1987						1997						(1)

BXP, Inc. Schedule 3—Real Estate and Accumulated Depreciation December 31, 2025 (dollars in thousands)
Property Name						Type						Location						Encumbrances						Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
Property Name						Type						Location						Encumbrances						Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
Property Name						Type						Location						Encumbrances						Land						Building						Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives  (Years)
453 Ravendale Drive						Office						Mountain View, CA						—						5,477						1,090						1,308						5,477						2,398						—						—						7,875						1,483						1977						2012						(1)
125 Broadway						Life Sciences						Cambridge, MA						—						126,364						433,662						6,496						126,364						440,158						—						—						566,522						54,903						2000						2022						(1)
180 CityPoint						Life Sciences						Waltham, MA						—						10,908						211,883						12,078						10,908						223,961						—						—						234,869						14,537						2024						2006						(1)
300 Binney Street						Life Sciences						Cambridge, MA						—						18,080						51,262						157,956						18,080						209,218						—						—						227,298						15,427						2024						2009						(1)
880 Winter Street						Life Sciences						Waltham, MA						—						15,597						37,255						95,618						15,597						132,873						—						—						148,470						26,135						1998/2022						2019						(1)
200 West Street						Life Sciences						Waltham, MA						—						16,148						24,983						79,619						16,813						103,580						357						—						120,750						39,547						1999/2021						1997						(1)
153 & 211 Second Avenue						Life Sciences						Waltham, MA						—						33,233						55,940						3,710						33,233						59,650						—						—						92,883						9,161						1964-2006						2021						(1)
103 CityPoint						Life Sciences						Waltham, MA						—						4,672						77,515						93						4,672						77,608						—						—						82,280						2,556						2024						2007						(1)
33 Hayden Avenue						Life Sciences						Lexington, MA						—						266						3,234						11,506						425						14,576						5						—						15,006						11,411						1979						1997						(1)
92-100 Hayden Avenue						Life Sciences						Lexington, MA						—						594						6,748						1,909						778						8,473						—						—						9,251						7,551						1985						1997						(1)
250 Binney Street						Life Sciences						Cambridge, MA						—						110						4,483						3,593						273						7,913						—						—						8,186						7,501						1983						1997						(1)
The Skylyne						Residential						Oakland, CA						—						—						239,077						1,792						—						240,869						—						—						240,869						32,233						2020						N/A						(1)
The Lofts at Atlantic Wharf						Residential						Boston, MA						—						3,529						54,891						2,598						3,529						57,489						—						—						61,018						21,589						2011						2007						(1)
Boston Marriott Cambridge						Hotel						Cambridge, MA						—						478						37,918						33,074						1,201						69,640						629						—						71,470						55,962						1986/2017						1997						(1)
Kendall Center Green Garage						Garage						Cambridge, MA						—			(2)			—						35,035						7,335						103						42,267						—						—						42,370						21,209						1984						2006						(1)
Kendall Center Yellow Garage						Garage						Cambridge, MA						—						1,256						15,697						1,674						1,434						17,193						—						—						18,627						8,704						2006						2004						(1)
290 Binney Street						Development						Cambridge, MA						—						—						—						888,992						1,054						—						—						887,938						888,992						—						N/A						1997						N/A
343 Madison Avenue						Development						New York, NY						—						—						—						377,992						131,898						—						—						246,094						377,992						—						N/A						2023						N/A
121 Broadway						Development						Cambridge, MA						—						—						—						273,697						—						—						—						273,697						273,697						—						N/A						1997						N/A
725 12th Street						Development						Washington, DC						—						26,997						8,369						19,403						—						—						—						54,769						54,769						—						1992						2024						N/A
Reston Next Retail						Development						Reston, VA						—						—						—						15,945						417						2,769						—						12,759						15,945						66						N/A						1998						N/A
777 Harrison Street						Land						San Francisco, CA						—						144,647						—						28,328						—						—						172,975						—						172,975						—						N/A						2020						N/A
Back Bay Station Master Plan						Land						Boston, MA						—						—						—						104,811						26,022						—						78,789						—						104,811						—						N/A						N/A						N/A
2100 M Street						Land						Washington, DC						—						55,914						—						261						—						—						56,175						—						56,175						—						N/A						2025						N/A
CityPoint South Master Plan						Land						Waltham, MA						—						—						—						37,749						—						—						37,749						—						37,749						—						N/A						N/A						N/A
North First Master Plan						Land						San Jose, CA						—						35,004						—						(4,351)						—						—						30,653						—						30,653						—						N/A						2007						N/A
Kendall Center Master Plan						Land						Cambridge, MA						—						—						—						17,044						—						—						17,044						—						17,044						—						N/A						1997						N/A
Reston Gateway Master Plan						Land						Reston, VA						—						—						—						12,443						—						—						12,443						—						12,443						—						N/A						1998						N/A
Springfield Metro Center						Land						Springfield, VA						—						—						—						8,868						—						—						8,868						—						8,868						—						N/A						2007						N/A
Weston Quarry						Land						Weston, MA						—						—						—						1,516						—						—						1,516						—						1,516						—						N/A						2001						N/A
Reston Overlook Master Plan						Land						Reston, VA						—						—						—						82						—						—						82						—						82						—						N/A						2000						N/A
																		$	4,280,067		(3)			$	5,656,418					$	15,510,064					$	7,719,548					$	5,918,915		(4)			$	20,973,366		(5)			$	518,492		(6)			$	1,475,257					$	28,886,030					$	8,003,414

Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $54,160. Accumulated Depreciation does not include approximately $36,897 of accumulated depreciation related to Furniture, Fixtures and Equipment. Office type includes office, life sciences, and retail properties.

The aggregate cost and accumulated depreciation for tax purposes was approximately $26.7 billion and $6.8 billion, respectively.

(1)Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(2)This property is encumbered with the mortgage note shown at 355 Main Street.

(3)Includes unamortized deferred financing costs totaling approximately $(18.0) million.

(4)Includes Right of Use Assets - Finance Leases and Right of Use Assets - Operating Leases of approximately $349,314 and $325,841, respectively.

(5)Includes Right of Use Assets - Finance Leases of approximately $23,156.

(6)Includes pre-development costs.

BXP, Inc.

Real Estate and Accumulated Depreciation

December 31, 2025, 2024 and 2023

(dollars in thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

						2025						2024						2023
Real Estate:
Balance at the beginning of the year						$	28,521,176					$	27,421,471					$	25,744,214
Additions to/improvements of real estate						1,225,473						1,210,558						1,811,036
Assets sold/written-off						(860,619)						(110,853)						(133,779)
Balance at the end of the year						$	28,886,030					$	28,521,176					$	27,421,471
Accumulated Depreciation:
Balance at the beginning of the year						$	7,485,502					$	6,841,404					$	6,260,992
Depreciation expense						795,670						754,951						714,191
Assets sold/written-off						(277,758)						(110,853)						(133,779)
Balance at the end of the year						$	8,003,414					$	7,485,502					$	6,841,404

Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.

Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2025 (dollars in thousands)
																								Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives (Years)
Property Name						Type						Location						Encumbrances						Land						Building
767 Fifth Avenue (the General Motors Building)						Office						New York, NY						$	2,294,992					$	1,796,252					$	1,532,654					$	423,940					$	1,796,246					$	1,956,600					$	—					$	—					$	3,752,846					$	614,923					1968/2019						2013						(1)
Prudential Center						Office						Boston, MA						—						92,077						948,357						802,972						100,541						1,742,865						—						—						1,843,406						848,999						1965/1993/2002/2016-2017/2024						1998/1999/2000						(1)
Embarcadero Center						Office						San Francisco, CA						—						179,697						847,410						534,868						180,419						1,381,556						—						—						1,561,975						850,057						1970/1989						1998-1999						(1)
399 Park Avenue						Office						New York, NY						—						339,200						700,358						372,004						339,200						1,072,362						—						—						1,411,562						541,561						1961/2018						2002						(1)
601 Lexington Avenue						Office						New York, NY						991,878						241,600						494,782						532,134						279,281						989,235						—						—						1,268,516						415,610						1977/1997/2021						2001						(1)
200 Clarendon Street and Garage						Office						Boston, MA						—						219,543						667,884						311,929						258,001						941,355						—						—						1,199,356						392,736						1976						2010						(1)
Salesforce Tower						Office						San Francisco, CA						—						200,349						946,205						4,149						200,349						950,354						—						—						1,150,703						214,753						2018						2013						(1)
250 West 55th Street						Office						New York, NY						—						285,263						603,167						49,995						285,263						653,162						—						—						938,425						232,085						2014						2007						(1)
100 Federal Street						Office						Boston, MA						—						131,067						435,954						154,169						131,067						590,123						—						—						721,190						209,057						1971-1975/2017						2012						(1)
Madison Centre						Office						Seattle, WA						—						104,641						564,336						5,672						104,641						570,008						—						—						674,649						76,377						2017						2022						(1)
Santa Monica Business Park						Office						Los Angeles, CA						199,302						46,360						410,421						217,684						210,471						462,459						1,535						—						674,465						36,680						1976-1980						2023						(1)
7 Times Square						Office						New York, NY						—						165,413						380,438						121,935						159,694						508,092						—						—						667,786						265,394						2004						2000						(1)
Carnegie Center						Office						Princeton, NJ						—						142,666						316,856						180,005						90,501						489,800						59,226						—						639,527						288,719						1983-2016						1998/1999/2000/2007/2014/2017/2019						(1)
Reston Next						Office						Reston, VA						—						35,549						525,277						17,150						2,901						575,075						—						—						577,976						69,776						2022						1998						(1)
Atlantic Wharf						Office						Boston, MA						—						63,988						454,537						45,916						63,988						500,453						—						—						564,441						210,601						2011						2007						(1)
2100 Pennsylvania Avenue						Office						Washington, DC						—						185,203						324,206						5,228						185,203						329,434						—						—						514,637						48,475						2023						N/A						(1)
599 Lexington Avenue						Office						New York, NY						—						81,040						100,507						258,661						81,040						359,168						—						—						440,208						208,102						1986						1997						(1)
Fountain Square						Office						Reston, VA						—						56,853						306,298						60,266						56,853						366,564						—						—						423,417						132,865						1986-1990						2012						(1)
510 Madison Avenue						Office						New York, NY						—						103,000						253,665						50,416						103,000						304,081						—						—						407,081						113,410						2012						2010						(1)
325 Main Street						Office						Cambridge, MA						—			(2)			21,596						312,492						55,211						21,403						367,896						—						—						389,299						35,634						2022						1997						(1)
680 Folsom Street						Office						San Francisco, CA						—						72,545						219,766						18,167						72,545						237,933						—						—						310,478						92,143						2014						2012						(1)
2200 Pennsylvania Avenue						Office						Washington, DC						—						—						183,541						125,161						100,592						208,110						—						—						308,702						83,114						2011						2008						(1)
145 Broadway						Office						Cambridge, MA						—						121						273,013						26,777						23,164						276,747						—						—						299,911						52,401						2019						1997						(1)
South of Market and Democracy Tower						Office						Reston, VA						—						13,603						237,479						36,542						13,603						274,021						—						—						287,624						127,897						2008-2009						2003						(1)
Bay Colony Corporate Center						Office						Waltham, MA						—						18,789						148,451						95,783						18,789						241,400						2,834						—						263,023						122,700						1985-1989/2025						2011						(1)
535 Mission Street						Office						San Francisco, CA						—						40,933						148,378						14,409						40,934						162,786						—						—						203,720						53,063						2015						2013						(1)
Reservoir Place						Office						Waltham, MA						—						18,605						104,124						61,808						19,089						165,448						—						—						184,537						95,892						1955/1987/2017						1997/1998						(1)
901 New York Avenue						Office						Washington, DC						197,682						65,808						72,970						45,671						65,808						118,641						—						—						184,449						8,414						2004						2024						(1)
Mountain View Research Park						Office						Mountain View, CA						—						95,066						68,373						20,266						95,066						88,639						—						—						183,705						41,187						1977-1981/2007-2013						2013						(1)
One Freedom Square						Office						Reston, VA						—						9,929						84,504						44,319						9,883						128,869						—						—						138,752						76,485						2000						2003						(1)
Two Freedom Square						Office						Reston, VA						—						13,930						77,739						40,913						13,866						118,716						—						—						132,582						54,297						2001						2003						(1)

Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2025 (dollars in thousands)
																								Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives (Years)
Property Name						Type						Location						Encumbrances						Land						Building						Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives (Years)
Kingstowne Towne Center						Office						Alexandria, VA						—						18,021						109,038						5,139						18,021						113,247						930						—						132,198						61,050						2003-2006						2007						(1)
Weston Corporate Center						Office						Weston, MA						—						25,753						92,312						10,816						25,854						103,027						—						—						128,881						47,039						2010						2001						(1)
One and Two Reston Overlook						Office						Reston, VA						—						16,456						66,192						44,540						15,074						112,114						—						—						127,188						67,131						1999						2000						(1)
1330 Connecticut Avenue						Office						Washington, DC						—						25,982						82,311						18,088						20,792						105,589						—						—						126,381						60,339						1984/2018						2004						(1)
17Fifty Presidents Street						Office						Reston, VA						—						—						113,362						162						—						113,524						—						—						113,524						25,408						2020						2013						(1)
Discovery Square						Office						Reston, VA						—						11,198						71,782						28,596						11,146						100,430						—						—						111,576						64,158						2001						2003						(1)
355 Main Street						Office						Cambridge, MA						596,213						18,863						53,346						38,536						21,098						89,647						—						—						110,745						42,245						1981/1996/2013						2006						(1)
10 CityPoint						Office						Waltham, MA						—						1,953						85,752						7,124						2,127						92,702						—						—						94,829						29,905						2016						1997						(1)
Waltham Weston Corporate Center						Office						Waltham, MA						—						10,385						60,694						23,005						10,350						83,734						—						—						94,084						50,160						2003						1999						(1)
Sumner Square						Office						Washington, DC						—						624						28,745						63,969						26,494						66,844						—						—						93,338						31,851						1985						1999						(1)
90 Broadway						Office						Cambridge, MA						—			(2)			19,104						52,078						21,989						20,741						72,430						—						—						93,171						35,765						1983/1998/2013						2006						(1)
230 CityPoint						Office						Waltham, MA						—						13,189						49,823						24,305						13,403						73,914						—						—						87,317						44,541						1992						2005						(1)
77 CityPoint						Office						Waltham, MA						—						13,847						60,383						11,251						13,997						71,484						—						—						85,481						33,795						2008						2001						(1)
20 CityPoint						Office						Waltham, MA						—						4,887						72,764						7,072						4,887						79,836						—						—						84,723						19,881						2020						2007						(1)
Wisconsin Place						Office						Chevy Chase, MD						—						—						53,349						26,485						—						79,834						—						—						79,834						33,776						2009						2004						(1)
Shady Grove Innovation District						Office						Rockville, MD						—						52,030						64,212						(37,955)						18,812						24,468						35,007						—						78,287						6,279						1968-1985						2021						(1)
2440 West El Camino Real						Office						Mountain View, CA						—						16,741						51,285						6,629						16,741						57,914						—						—						74,655						25,436						1987/2003						2011						(1)
890 Winter Street						Office						Waltham, MA						—						13,913						28,557						26,191						13,913						54,748						—						—						68,661						12,778						1999						2019						(1)
Reston Corporate Center						Office						Reston, VA						—						9,135						50,857						1,878						9,496						52,374						—						—						61,870						35,966						1984						1998						(1)
255 Main Street						Office						Cambridge, MA						—						134						25,110						32,253						134						57,363						—						—						57,497						47,083						1987						1997						(1)
University Place						Office						Cambridge, MA						—						—						37,091						12,264						3,435						45,920						—						—						49,355						38,664						1985						1998						(1)
Reston Next Office Phase II						Office						Reston, VA						—						1,692						46,124						—						1,692						46,124						—						—						47,816						642						N/A						1998						(1)
Capital Gallery						Office						Washington, DC						—						4,725						29,565						6,802						6,128						34,964						—						—						41,092						24,387						1981/2006						2007						(1)
150 Broadway						Office						Cambridge, MA						—						850						25,042						13,744						822						38,814						—						—						39,636						21,104						1999						1997						(1)
North First Business Park						Office						San Jose, CA						—						23,398						13,069						472						17,839						19,100						—						—						36,939						18,340						1981						2007						(1)
105 Broadway						Office						Cambridge, MA						—						1,299						12,943						10,617						1,868						22,991						—						—						24,859						18,588						1990						1997						(1)
Lexington Office Park						Office						Lexington, MA						—						998						1,426						19,143						1,072						18,820						1,675						—						21,567						17,309						1982						1997						(1)
The Point						Office						Waltham, MA						—						6,395						10,040						546						6,492						10,489						—						—						16,981						3,291						2015						2007						(1)
690 Folsom Street						Office						San Francisco, CA						—						3,219						11,038						1,877						3,219						12,915						—						—						16,134						5,165						2015						2012						(1)
Avant Retail						Office						Reston, VA						—						1,499						6,647						2,577						1,499						9,224						—						—						10,723						4,104						2014						2010						(1)
32 Hartwell Avenue						Office						Lexington, MA						—						168						1,943						5,808						168						7,751						—						—						7,919						3,437						1968/1979/1987						1997						(1)
453 Ravendale Drive						Office						Mountain View, CA						—						5,477						1,090						1,308						5,477						2,398						—						—						7,875						1,483						1977						2012						(1)
125 Broadway						Life Sciences						Cambridge, MA						—						126,364						433,662						6,496						126,364						440,158						—						—						566,522						54,903						2000						2022						(1)
180 CityPoint						Life Sciences						Waltham, MA						—						10,908						211,883						12,078						10,908						223,961						—						—						234,869						14,537						2024						2006						(1)
300 Binney Street						Life Sciences						Cambridge, MA						—						18,080						51,262						157,956						18,080						209,218						—						—						227,298						15,427						2024						2009						(1)

Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2025 (dollars in thousands)
																								Original												Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives (Years)
Property Name						Type						Location						Encumbrances						Land						Building						Costs Capitalized Subsequent to Acquisition						Land and Improvements						Building and Improvements						Land Held for Development						Development and Construction in Progress						Total						Accumulated Depreciation						Year(s) Built/Renovated						Year(s) Acquired						Depreciable Lives (Years)
880 Winter Street						Life Sciences						Waltham, MA						—						15,597						37,255						95,618						15,597						132,873						—						—						148,470						26,135						1998/2022						2019						(1)
200 West Street						Life Sciences						Waltham, MA						—						16,148						24,983						76,958						16,148						101,584						357						—						118,089						38,545						1999/2021						1997						(1)
153 & 211 Second Avenue						Life Sciences						Waltham, MA						—						33,233						55,940						3,710						33,233						59,650						—						—						92,883						9,161						1964-2006						2021						(1)
103 CityPoint						Life Sciences						Waltham, MA						—						4,672						77,515						91						4,670						77,608						—						—						82,278						2,556						2024						2007						(1)
33 Hayden Avenue						Life Sciences						Lexington, MA						—						266						3,234						10,869						266						14,098						5						—						14,369						11,171						1979						1997						(1)
92-100 Hayden Avenue						Life Sciences						Lexington, MA						—						594						6,748						1,180						595						7,927						—						—						8,522						7,275						1985						1997						(1)
250 Binney Street						Life Sciences						Cambridge, MA						—						110						4,483						2,939						110						7,422						—						—						7,532						7,259						1983						1997						(1)
The Skylyne						Residential						Oakland, CA						—						—						239,077						1,792						—						240,869						—						—						240,869						32,233						2020						N/A						(1)
The Lofts at Atlantic Wharf						Residential						Boston, MA						—						3,529						54,891						2,598						3,529						57,489						—						—						61,018						21,589						2011						2007						(1)
Boston Marriott Cambridge						Hotel						Cambridge, MA						—						478						37,918						30,183						478						67,472						629						—						68,579						54,874						1986/2017						1997						(1)
Kendall Center Green Garage						Garage						Cambridge, MA						—			(2)			—						35,035						6,921						—						41,956						—						—						41,956						21,055						1984						2006						(1)
Kendall Center Yellow Garage						Garage						Cambridge, MA						—						1,256						15,697						962						1,256						16,659						—						—						17,915						8,439						2006						2004						(1)
290 Binney Street						Development						Cambridge, MA						—						—						—						888,576						638						—						—						887,938						888,576						—						N/A						1997						N/A
343 Madison Avenue						Development						New York, NY						—						—						—						377,992						131,898						—						—						246,094						377,992						—						N/A						2023						N/A
121 Broadway						Development						Cambridge, MA						—						—						—						273,697						—						—						—						273,697						273,697						—						N/A						1997						N/A
725 12th Street						Development						Washington, DC						—						26,997						8,369						19,403						—						—						—						54,769						54,769						—						1992						2024						N/A
Reston Next Retail						Development						Reston, VA						—						—						—						15,945						417						2,769						—						12,759						15,945						66						N/A						1998						N/A
777 Harrison Street						Land						San Francisco, CA						—						144,647						—						28,328						—						—						172,975						—						172,975						—						N/A						2020						N/A
Back Bay Station Master Plan						Land						Boston, MA						—						—						—						104,811						26,022						—						78,789						—						104,811						—						N/A						N/A						N/A
2100 M Street						Land						Washington, DC						—						55,914						—						261						—						—						56,175						—						56,175						—						N/A						2025						N/A
CityPoint South Master Plan						Land						Waltham, MA						—						—						—						37,749						—						—						37,749						—						37,749						—						N/A						N/A						N/A
North First Master Plan						Land						San Jose, CA						—						35,004						—						(4,351)						—						—						30,653						—						30,653						—						N/A						2007						N/A
Kendall Center Master Plan						Land						Cambridge, MA						—						—						—						17,044						—						—						17,044						—						17,044						—						N/A						1997						N/A
Reston Gateway Master Plan						Land						Reston, VA						—						—						—						12,443						—						—						12,443						—						12,443						—						N/A						1998						N/A
Springfield Metro Center						Land						Springfield, VA						—						—						—						8,868						—						—						8,868						—						8,868						—						N/A						2007						N/A
Weston Quarry						Land						Weston, MA						—						—						—						1,516						—						—						1,516						—						1,516						—						N/A						2001						N/A
Reston Overlook Master Plan						Land						Reston, VA						—						—						—						82						—						—						82						—						82						—						N/A						2000						N/A
																		$	4,280,067		(3)			$	5,656,418					$	15,510,064					$	7,362,066					$	5,826,401		(4)			$	20,708,398		(5)			$	518,492		(6)			$	1,475,257					$	28,528,548					$	7,869,732

Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $54,160. Accumulated Depreciation does not include approximately $36,897 of accumulated depreciation related to Furniture, Fixtures and Equipment. Office type includes office, life sciences, and retail properties.

The aggregate cost and accumulated depreciation for tax purposes was approximately $29.9 billion and $7.6 billion, respectively.

(1)Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(2)This property is encumbered with the mortgage note shown at 355 Main Street.

(3)Includes unamortized deferred financing costs totaling approximately $(18.0) million.

(4)Includes Right of Use Assets - Finance Leases and Right of Use Assets - Operating Leases of approximately $349,314 and $325,841, respectively.

(5)Includes Right of Use Assets - Finance Leases of approximately $23,156.

(6)Includes pre-development costs.

Boston Properties Limited Partnership

Real Estate and Accumulated Depreciation

December 31, 2025, 2024 and 2023

(dollars in thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

						2025						2024						2023
Real Estate:
Balance at the beginning of the year						$	28,154,911					$	27,055,206					$	25,376,700
Additions to/improvements of real estate						1,225,473						1,210,558						1,811,036
Assets sold/written-off						(851,836)						(110,853)						(132,530)
Balance at the end of the year						$	28,528,548					$	28,154,911					$	27,055,206
Accumulated Depreciation:
Balance at the beginning of the year						$	7,355,327					$	6,718,037					$	6,143,384
Depreciation expense						788,884						748,143						707,183
Assets sold/written-off						(274,479)						(110,853)						(132,530)
Balance at the end of the year						$	7,869,732					$	7,355,327					$	6,718,037

Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.

X

- References

No definition available.

+ Details

Name:	srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract
Namespace Prefix:	srt_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 970
-SubTopic 360
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478979/970-360-S99-1

+ Details

Name:	srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration