XML 26 R4.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $8,005,124 and $7,797,430 at December 31, 2025 and December 31, 2024, respectively) $ 28,241,879 $ 27,870,623
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2025 and December 31, 2024, respectively) 372,470 372,922
Right of use assets - operating leases (amounts related to VIEs of $0 and $140,558 at December 31, 2025 and December 31, 2024, respectively) 325,841 334,767
Less: accumulated depreciation (amounts related to VIEs of $(1,763,988) and $(1,628,274) at December 31, 2025 and December 31, 2024, respectively) (8,040,311) (7,528,057)
Cash and cash equivalents (amounts related to VIEs of $255,631 and $373,737 at December 31, 2025 and December 31, 2024, respectively) 1,478,206 1,254,882
Cash held in escrows (amounts related to VIEs of $10,319 and $4,979 at December 31, 2025 and December 31, 2024, respectively) 79,060 80,314
Tenant and other receivables, net (amounts related to VIEs of $30,989 and $20,435 at December 31, 2025 and December 31, 2024, respectively) 92,625 107,453
Accrued rental income, net (amounts related to VIEs of $470,734 and $435,110 at December 31, 2025 and December 31, 2024, respectively) 1,538,515 1,466,220
Deferred charges, net (amounts related to VIEs of $204,924 and $211,726 at December 31, 2025 and December 31, 2024, respectively) 847,690 813,345
Prepaid expenses and other assets (amounts related to VIEs of $14,509 and $15,036 at December 31, 2025 and December 31, 2024, respectively) 108,105 70,839
Assets held for sale 24,770 0
Mortgage notes payable, net (amounts related to VIEs of $3,286,870 and $3,282,027 at December 31, 2025 and December 31, 2024, respectively) 4,280,067 4,276,609
Lease liabilities - finance leases (amounts related to VIEs of $21,074 and $20,931 at December 31, 2025 and December 31, 2024, respectively) 360,039 370,885
Lease liabilities - operating leases (amounts related to VIEs of $0 and $157,691 at December 31, 2025 and December 31, 2024, respectively) 389,213 392,686
Accounts payable and accrued expenses (amounts related to VIEs of $88,849 and $115,808 at December 31, 2025 and December 31, 2024, respectively) 480,017 401,874
Other liabilities (amounts related to VIEs of $95,209 and $126,202 at December 31, 2025 and December 31, 2024, respectively) $ 386,074 $ 450,796
Reedemable deferred stock units, units 111,701 128,227
Limited Partners' Capital Account, Units Outstanding (in units) 156,780,294  
General Partners' Capital Account, Units Outstanding (in units) 1,768,004  
Excess stock, par value $ 0.01 $ 0.01
Excess stock, shares authorized 150,000,000 150,000,000
Excess stock, shares outstanding 0 0
Excess stock, shares issued 0 0
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock / units, shares / units issued (in shares / units) 0 0
Preferred stock / units, shares / units outstanding (in shares / units) 0 0
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common stock, shares authorized 250,000,000 250,000,000
Common stock, shares issued 158,627,198 158,253,895
Common Stock, Shares, Outstanding 158,548,298 158,174,995
Treasury common stock at cost, shares 78,900 78,900
Related Party    
Related party note receivable, net $ 28,346 $ 88,779
Accounts payable and accrued expenses (amounts related to VIEs of $88,849 and $115,808 at December 31, 2025 and December 31, 2024, respectively) 800 700
Nonrelated Party    
Related party note receivable, net 9,373 4,947
Boston Properties Limited Partnership    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $8,005,124 and $7,797,430 at December 31, 2025 and December 31, 2024, respectively) 27,884,397 27,504,358
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2025 and December 31, 2024, respectively) 372,470 372,922
Right of use assets - operating leases (amounts related to VIEs of $0 and $140,558 at December 31, 2025 and December 31, 2024, respectively) 325,841 334,767
Less: accumulated depreciation (amounts related to VIEs of $(1,763,988) and $(1,628,274) at December 31, 2025 and December 31, 2024, respectively) (7,906,629) (7,397,882)
Cash and cash equivalents (amounts related to VIEs of $255,631 and $373,737 at December 31, 2025 and December 31, 2024, respectively) 1,478,206 1,254,882
Cash held in escrows (amounts related to VIEs of $10,319 and $4,979 at December 31, 2025 and December 31, 2024, respectively) 79,060 80,314
Tenant and other receivables, net (amounts related to VIEs of $30,989 and $20,435 at December 31, 2025 and December 31, 2024, respectively) 92,625 107,453
Accrued rental income, net (amounts related to VIEs of $470,734 and $435,110 at December 31, 2025 and December 31, 2024, respectively) 1,538,515 1,466,220
Deferred charges, net (amounts related to VIEs of $204,924 and $211,726 at December 31, 2025 and December 31, 2024, respectively) 847,690 813,345
Prepaid expenses and other assets (amounts related to VIEs of $14,509 and $15,036 at December 31, 2025 and December 31, 2024, respectively) 108,105 70,839
Assets held for sale 24,770 0
Mortgage notes payable, net (amounts related to VIEs of $3,286,870 and $3,282,027 at December 31, 2025 and December 31, 2024, respectively) 4,280,067 4,276,609
Lease liabilities - finance leases (amounts related to VIEs of $21,074 and $20,931 at December 31, 2025 and December 31, 2024, respectively) 360,039 370,885
Lease liabilities - operating leases (amounts related to VIEs of $0 and $157,691 at December 31, 2025 and December 31, 2024, respectively) 389,213 392,686
Accounts payable and accrued expenses (amounts related to VIEs of $88,849 and $115,808 at December 31, 2025 and December 31, 2024, respectively) 480,017 401,874
Other liabilities (amounts related to VIEs of $95,209 and $126,202 at December 31, 2025 and December 31, 2024, respectively) $ 386,074 $ 450,796
Reedemable deferred stock units, units 111,701 128,227
Limited Partners' Capital Account, Units Outstanding (in units) 156,780,294 156,412,584
General Partners' Capital Account, Units Outstanding (in units) 1,768,004 1,762,411
NonControlling Interest Redeemable Partnership Units Common Units Shares Outstanding 15,590,009 15,730,882
NonControlling Interest Redeemable Partnership Units Common Units Long Term Incentive Units At Redemption Value Shares Outstanding 2,662,140 2,335,229
Boston Properties Limited Partnership | Related Party    
Related party note receivable, net $ 28,346 $ 88,779
Boston Properties Limited Partnership | Nonrelated Party    
Related party note receivable, net 9,373 4,947
Variable Interest Entity, Primary Beneficiary [Member]    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $8,005,124 and $7,797,430 at December 31, 2025 and December 31, 2024, respectively) 8,005,124 7,797,430
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2025 and December 31, 2024, respectively) 21,000 21,000
Right of use assets - operating leases (amounts related to VIEs of $0 and $140,558 at December 31, 2025 and December 31, 2024, respectively) 0 140,558
Less: accumulated depreciation (amounts related to VIEs of $(1,763,988) and $(1,628,274) at December 31, 2025 and December 31, 2024, respectively) (1,763,988) (1,628,274)
Cash and cash equivalents (amounts related to VIEs of $255,631 and $373,737 at December 31, 2025 and December 31, 2024, respectively) 255,631 373,737
Cash held in escrows (amounts related to VIEs of $10,319 and $4,979 at December 31, 2025 and December 31, 2024, respectively) 10,319 4,979
Tenant and other receivables, net (amounts related to VIEs of $30,989 and $20,435 at December 31, 2025 and December 31, 2024, respectively) 30,989 20,435
Accrued rental income, net (amounts related to VIEs of $470,734 and $435,110 at December 31, 2025 and December 31, 2024, respectively) 470,734 435,110
Deferred charges, net (amounts related to VIEs of $204,924 and $211,726 at December 31, 2025 and December 31, 2024, respectively) 204,924 211,726
Prepaid expenses and other assets (amounts related to VIEs of $14,509 and $15,036 at December 31, 2025 and December 31, 2024, respectively) 14,509 15,036
Mortgage notes payable, net (amounts related to VIEs of $3,286,870 and $3,282,027 at December 31, 2025 and December 31, 2024, respectively) 3,286,870 3,282,027
Lease liabilities - finance leases (amounts related to VIEs of $21,074 and $20,931 at December 31, 2025 and December 31, 2024, respectively) 21,074 20,931
Lease liabilities - operating leases (amounts related to VIEs of $0 and $157,691 at December 31, 2025 and December 31, 2024, respectively) 0 157,691
Accounts payable and accrued expenses (amounts related to VIEs of $88,849 and $115,808 at December 31, 2025 and December 31, 2024, respectively) 88,849 115,808
Other liabilities (amounts related to VIEs of $95,209 and $126,202 at December 31, 2025 and December 31, 2024, respectively) 95,209 126,202
Variable Interest Entity, Primary Beneficiary [Member] | Boston Properties Limited Partnership    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $8,005,124 and $7,797,430 at December 31, 2025 and December 31, 2024, respectively) 8,005,124 7,797,430
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2025 and December 31, 2024, respectively) 21,000 21,000
Right of use assets - operating leases (amounts related to VIEs of $0 and $140,558 at December 31, 2025 and December 31, 2024, respectively) 0 140,558
Less: accumulated depreciation (amounts related to VIEs of $(1,763,988) and $(1,628,274) at December 31, 2025 and December 31, 2024, respectively) (1,763,988) (1,628,274)
Cash and cash equivalents (amounts related to VIEs of $255,631 and $373,737 at December 31, 2025 and December 31, 2024, respectively) 255,631 373,737
Cash held in escrows (amounts related to VIEs of $10,319 and $4,979 at December 31, 2025 and December 31, 2024, respectively) 10,319 4,979
Tenant and other receivables, net (amounts related to VIEs of $30,989 and $20,435 at December 31, 2025 and December 31, 2024, respectively) 30,989 20,435
Accrued rental income, net (amounts related to VIEs of $470,734 and $435,110 at December 31, 2025 and December 31, 2024, respectively) 470,734 435,110
Deferred charges, net (amounts related to VIEs of $204,924 and $211,726 at December 31, 2025 and December 31, 2024, respectively) 204,924 211,726
Prepaid expenses and other assets (amounts related to VIEs of $14,509 and $15,036 at December 31, 2025 and December 31, 2024, respectively) 14,509 15,036
Mortgage notes payable, net (amounts related to VIEs of $3,286,870 and $3,282,027 at December 31, 2025 and December 31, 2024, respectively) 3,286,870 3,282,027
Lease liabilities - finance leases (amounts related to VIEs of $21,074 and $20,931 at December 31, 2025 and December 31, 2024, respectively) 21,074 20,931
Lease liabilities - operating leases (amounts related to VIEs of $0 and $157,691 at December 31, 2025 and December 31, 2024, respectively) 0 157,691
Accounts payable and accrued expenses (amounts related to VIEs of $88,849 and $115,808 at December 31, 2025 and December 31, 2024, respectively) 88,849 115,808
Other liabilities (amounts related to VIEs of $95,209 and $126,202 at December 31, 2025 and December 31, 2024, respectively) $ 95,209 $ 126,202