Real Estate (Tables)

3 Months Ended

Mar. 31, 2019

Entity Information [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Boston Properties, Inc.

Real estate consisted of the following at March 31, 2019 and December 31, 2018 (in thousands):

	March 31, 2019			December 31, 2018
Land	$	5,061,532		$	5,072,568
Right of use assets - finance leases	187,292			—
Right of use assets - operating leases	151,166			—
Land held for future development (1)	258,221			200,498
Buildings and improvements	13,286,605			13,356,751
Tenant improvements	2,444,358			2,396,932
Furniture, fixtures and equipment	43,080			44,351
Construction in progress	647,469			578,796
Total	22,079,723			21,649,896
Less: Accumulated depreciation	(4,962,959		)	(4,897,777		)
	$	17,116,764		$	16,752,119

_______________

(1) Includes pre-development costs.

Finance Lease, Liability, Maturity [Table Text Block]

The following table provides a maturity analysis for the Company's lease liabilities related to its operating and finance leases as of March 31, 2019 (in thousands):

	Operating			Finance (1)
April 1, 2019 - December 31, 2019	$	7,317		$	4,401
2020	17,488			122,070
2021	25,403			2,130
2022	11,376			1,121
2023	9,084			944
Thereafter	567,232			73,241
Total lease payments	637,900			203,907
Less: interest portion	(438,247		)	(30,784		)
Present value of lease payments	$	199,653		$	173,123

The Company recorded an adjustment to the opening balance of retained earnings related to initial direct costs that, as of January 1, 2019, had not started to amortize and are no longer allowed to be capitalized in accordance with ASU 2016-02, totaling approximately to Dividends in Excess of Earnings of Boston Properties, Inc. and Partners' Capital of Boston Properties Limited Partnership, approximately $0.4 million to Noncontrolling interests - Common Units of Boston Properties, Inc. and Noncontrolling Interest - Redeemable Partnership Units of Boston Properties Limited Partnership and $70,000 to Noncontrolling Interests - Property Partnerships of Boston Properties, Inc. and Noncontrolling Interests in Property Partnerships of Boston Properties Limited Partnership on the corresponding Consolidated Balance Sheets.

$3.9 million to Dividends in Excess of Earnings of Boston Properties, Inc. and Partners' Capital of Boston Properties Limited Partnership, approximately $0.4 million

52	P52Y0M0D
5	P5Y0M0D

Boston Properties Limited Partnership

Entity Information [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Boston Properties Limited Partnership

Real estate consisted of the following at March 31, 2019 and December 31, 2018 (in thousands):

	March 31, 2019			December 31, 2018
Land	$	4,961,028		$	4,971,475
Right of use assets - finance leases	187,292			—
Right of use assets - operating leases	151,166			—
Land held for future development (1)	258,221			200,498
Buildings and improvements	12,991,108			13,059,488
Tenant improvements	2,444,358			2,396,932
Furniture, fixtures and equipment	43,080			44,351
Construction in progress	647,469			578,796
Total	21,683,722			21,251,540
Less: Accumulated depreciation	(4,864,334		)	(4,800,475		)
	$	16,819,388		$	16,451,065

_______________

(1) Includes pre-development costs.

Platform 16 [Member]

Entity Information [Line Items]

Finance Lease, Liability, Maturity [Table Text Block]

As of January 24, 2019, the lease payments from the finance lease are as follows (in thousands):

Period from January 24, 2019 through December 31, 2019	$	17,918
2020	109,460
Total expected minimum lease payments	127,378
Interest portion	(4,815		)
Present value of expected net lease payments	$	122,563