Real Estate (Tables)

12 Months Ended

Dec. 31, 2015

Real Estate Properties [Line Items]

Schedule of Property Subject to or Available for Operating Lease [Table Text Block]

Boston Properties, Inc.

Real estate consisted of the following at December 31 (in thousands):

	2015			2014
Land	$	4,806,021		$	4,785,772
Land held for future development	252,195			268,114
Buildings and improvements	11,709,285			11,666,105
Tenant improvements	1,920,247			1,752,115
Furniture, fixtures and equipment	29,852			27,986
Construction in progress	763,935			736,311
Total	19,481,535			19,236,403
Less: Accumulated depreciation	(3,925,894		)	(3,547,659		)
	$	15,555,641		$	15,688,744

Boston Properties Limited Partnership

Real estate consisted of the following at December 31 (in thousands):

	2015			2014
Land	$	4,700,793		$	4,680,181
Land held for future development	252,195			268,114
Buildings and improvements	11,394,119			11,349,851
Tenant improvements	1,920,247			1,752,115
Furniture, fixtures and equipment	29,852			27,986
Construction in progress	763,935			736,311
Total	19,061,141			18,814,558
Less: Accumulated depreciation	(3,846,816		)	(3,476,321		)
	$	15,214,325		$	15,338,237

Summary Of The Discontinued Operations

The following table summarizes the income from discontinued operations related to One Preserve Parkway, 10 & 20 Burlington Mall Road, 1301 New York Avenue, 303 Almaden Boulevard and Montvale Center and the related gains on sales of real estate, gain on forgiveness of debt and impairment loss for the year ended December 31, 2013:

Boston Properties, Inc.

	For the year ended December 31, 2013
	(in thousands)
Total revenue	$	20,138
Expenses
Operating	6,996
Depreciation and amortization	4,760
Total expenses	11,756
Operating income	8,382
Other expense
Interest expense	360
Income from discontinued operations	$	8,022
Noncontrolling interest in income from discontinued operations – common units of the Operating Partnership	(803		)
Income from discontinued operations attributable to Boston Properties, Inc.	$	7,219
Gains on sales of real estate from discontinued operations	$	112,829
Gain on forgiveness of debt from discontinued operations	20,182
Impairment loss from discontinued operations	(3,241		)
Noncontrolling interest in gains on sales of real estate, gain on forgiveness of debt and impairment loss from discontinued operations – common units of the Operating Partnership	(13,348		)
Gains on sales of real estate, gain on forgiveness of debt and impairment loss from discontinued operations attributable to Boston Properties, Inc.	$	116,422

Boston Properties Limited Partnership

	For the year ended December 31, 2013
	(in thousands)
Total revenue	$	20,138
Expenses
Operating	6,996
Depreciation and amortization	4,760
Total expenses	11,756
Operating income	8,382
Other expense
Interest expense	360
Income from discontinued operations attributable to Boston Properties Limited Partnership	$	8,022
Gains on sales of real estate from discontinued operations attributable to Boston Properties Limited Partnership	$	115,459
Gain on forgiveness of debt from discontinued operations attributable to Boston Properties Limited Partnership	$	20,736
Impairment loss from discontinued operations attributable to Boston Properties Limited Partnership	$	(2,852	)

Pro Forma In Connection With Acquisition

This unaudited pro forma information is based upon the historical consolidated financial statements of the Company and should be read in conjunction with the consolidated financial statements and notes thereto. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had the above occurred, nor do they purport to predict the results of operations of future periods. Additional information for these transactions are provided below.

Boston Properties, Inc.

Pro Forma (Unaudited)	Year ended December 31, 2013
(in thousands, except per share data)
Total revenue	$	2,257,098
Income from continuing operations	$	302,354
Net income attributable to Boston Properties, Inc.	$	400,017
Basic earnings per share:
Net income per share attributable to Boston Properties, Inc.	$	2.58
Diluted earnings per share:
Net income per share attributable to Boston Properties, Inc.	$	2.57

Boston Properties Limited Partnership

Pro Forma (Unaudited)	Year ended December 31, 2013
(in thousands, except per unit data)
Total revenue	$	2,257,098
Income from continuing operations	$	314,307
Net income attributable to Boston Properties Limited Partnership	$	452,813
Basic earnings per unit:
Net income per unit attributable to Boston Properties Limited Partnership	$	2.68
Diluted earnings per unit:
Net income per unit attributable to Boston Properties Limited Partnership	$	2.67

Mountain View Research And Technology Parks [Member]

Real Estate Properties [Line Items]

Schedule Of Allocation Of The Aggregate Purchase Price Of Acquisition

The following table summarizes the allocation of the aggregate purchase price of Mountain View Research Park and Mountain View Technology Park at the date of acquisition (in thousands) in accordance with the guidance in ASC 805 “Business Combinations.” 

Land	$	126,521
Building and improvements	82,451
Tenant improvements	7,326
In-place lease intangibles	23,279
Above-market rents	843
Below-market rents	(7,336		)
Net assets acquired	$	233,084

767 Fifth Avenue (the General Motors Building)

Real Estate Properties [Line Items]

Schedule Of Allocation Of The Aggregate Purchase Price Of Acquisition

The following table summarizes the allocation of the aggregate purchase price of 767 Fifth Avenue (the General Motors Building) at the date of consolidation on May 31, 2013 (in thousands) in accordance with the guidance in ASC 805 “Business Combinations.”

Real estate and related intangibles recorded upon consolidation
Land	$	1,796,252
Building and improvements	1,447,446
Tenant improvements	85,208
In-place lease intangibles	357,781
Above market rents	101,897
Below market rents	(239,641		)
Above market assumed debt adjustments	(192,943		)
	$	3,356,000
Debt recorded upon consolidation
Mortgage notes payable	$	(1,300,000	)
Mezzanine notes payable	(306,000		)
Members’ notes payable	(450,000		)	(1)
	$	(2,056,000	)
Working capital recorded upon consolidation
Cash and cash equivalents	$	79,468
Cash held in escrows	2,403
Tenant and other receivables	7,104
Prepaid expenses and other assets	4,269
Accounts payable and accrued expenses	(2,418		)
Accrued interest payable	(182,369		)	(2)
Other liabilities	(6,304		)
	$	(97,847	)
Noncontrolling interest recorded upon consolidation
Noncontrolling interests	$	(520,000	)
Noncontrolling interests - working capital	39,139
	$	(480,861	)
Net assets recorded upon consolidation	$	721,292

_______________

(1) The Company’s member loan totaling $270.0 million eliminates in consolidation.

(2) The Company’s share of the accrued interest payable on the members’ loans totaling approximately $105.5 million eliminates in consolidation.