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Real Estate (Tables)

6 Months Ended

Jun. 30, 2021

Boston Properties, Inc.

Real estate consisted of the following at June 30, 2021 and December 31, 2020 (in thousands):


	June 30, 2021		December 31, 2020
Land	$	5,038,870	$	5,069,206
Right of use assets - finance leases	237,765		237,393
Right of use assets - operating leases (1)	170,331		146,406
Land held for future development (2)	497,019		450,954
Buildings and improvements	14,082,350		13,777,691
Tenant improvements	2,839,358		2,752,880
Furniture, fixtures and equipment	51,517		49,606
Construction in progress	908,061		868,773
Total	23,825,271		23,352,909
Less: Accumulated depreciation	(5,752,818)		(5,534,102)
	$	18,072,453	$	17,818,807

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(1)See Note 4.

(2)Includes pre-development costs.

153 & 211 Second Avenue [Member]

Real Estate Properties [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the allocation of the purchase price, including transaction costs, of 153 & 211 Second Avenue at the date of acquisition (in thousands):


Land	$	33,233
Building and improvements	53,309
Tenant improvements	2,631
In-place lease intangibles	13,415
Below-market lease intangibles	(2,412)
Net assets acquired	$	100,176

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the estimated annual amortization of the acquired in-place lease intangibles

and the acquired below-market lease intangibles for 153 & 211 Second Avenue for the remainder of 2021 through the last lease expiration (in thousands):


	Acquired In-Place Lease Intangibles		Acquired Below-Market Lease Intangibles
Period from June 2, 2021 through December 31, 2021	$	5,202	$	935
2022	8,213		1,477

Boston Properties Limited Partnership