EX-5.1 3 dex51.txt OPINION OF GOODWIN PROCTER LLP -- LEGALITY Exhibit 5.1 Goodwin Procter LLP Counsellors at Law Exchange Place Boston, MA 02109 February 11, 2002 Boston Properties, Inc. 111 Huntington Avenue, Suite 300 Boston, MA 02199 Ladies and Gentlemen: This opinion is furnished in connection with the registration on Form S-3 (the "Registration Statement") pursuant to the Securities Act of 1933, as amended (the "Securities Act"), of the issuance of up to 650,876 shares (the "Shares") of common stock, par value $.01 per share ("Common Stock"), of Boston Properties, Inc. (the "Company"). The Shares may be issued by the Company if and to the extent that the common units of limited partnership (the "Common Units") of Boston Properties Limited Partnership, a Delaware limited partnership (the "Operating Partnership") issuable upon conversion of Series Z preferred units of the Operating Partnership, are presented to the Operating Partnership for redemption and the Company elects to issue such Shares in exchange for such Common Units. In connection with rendering this opinion, we have examined the Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws of the Company, each as amended to date; such records of the corporate proceedings of the Company as we deemed material; and such other certificates, receipts, records and documents as we considered necessary for the purposes of this opinion. In our examination, we have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as certified, photostatic or facsimile copies, the authenticity of the originals of such copies and the authenticity of telephonic confirmations of public officials and others. As to facts material to our opinion, we have relied upon certificates or telephonic confirmations of public officials and certificates, documents, statements and other information of the Company or representatives or officers thereof. We are attorneys admitted to practice in The Commonwealth of Massachusetts. We express no opinion concerning the laws of any jurisdictions other than the laws of the United States of America, the laws of The Commonwealth of Massachusetts, and the Delaware General Corporation Law (which includes applicable provisions of the Delaware Constitution and reported judicial decisions interpreting the Delaware General Corporation Law and the Delaware Constitution). Boston Properties, Inc. February 11, 2002 Page 2 Based upon the foregoing, we are of the opinion that when the Shares have been issued in exchange for Common Units tendered to the Operating Partnership for redemption as contemplated by the limited partnership agreement of the Operating Partnership, such Shares will be validly issued, fully paid and nonassessable. The foregoing assumes that all requisite steps were taken to comply with the requirements of the Securities Act and applicable requirements of state laws regulating the offer and sale of securities. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to us with respect to this opinion under the heading "Legal Matters" in the Prospectus which is a part of such Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act. Very truly yours, /s/ Goodwin Procter LLP Goodwin Procter LLP