Real Estate (Tables)

12 Months Ended

Dec. 31, 2021

Real Estate Properties [Line Items]

Schedule of Real Estate Properties

Boston Properties, Inc.

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

	December 31, 2021		December 31, 2020
Land	$	5,061,169	$	5,069,206
Right of use assets - finance leases	237,507		237,393
Right of use assets - operating leases (1)	169,778		146,406
Land held for future development (2)	560,355		450,954
Buildings and improvements	14,291,214		13,777,691
Tenant improvements	2,894,025		2,752,880
Furniture, fixtures and equipment	51,695		49,606
Construction in progress	894,172		868,773
Total	24,159,915		23,352,909
Less: Accumulated depreciation	(5,883,961)		(5,534,102)
	$	18,275,954	$	17,818,807

_______________

(1)See Note 4.

(2)Includes pre-development costs.

153 & 211 Second Avenue [Member]

Real Estate Properties [Line Items]

Asset Acquisition [Table Text Block]

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

Shady Grove Innovation District [Member]

Real Estate Properties [Line Items]

Asset Acquisition [Table Text Block]

The following table summarizes the allocation of the purchase price, including transaction costs, of Shady Grove Innovation District at the date of acquisition (in thousands):

Land	$	52,030
Building and improvements	63,060
Tenant improvements	1,152
In-place lease intangibles	2,523
Above-market lease intangibles	142
Below-market lease intangibles	(403)
Net assets acquired	$	118,504

360 Park Avenue South

Real Estate Properties [Line Items]

Asset Acquisition [Table Text Block]

The following table summarizes the allocation of the purchase price of 360 Park Avenue South at the date of acquisition (in thousands):

Land	$	215,448
Building and improvements	85,220
Net assets acquired	$	300,668

153 & 211 Second Avenue and Shady Grove Innovation District [Member]

Real Estate Properties [Line Items]

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

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

and the acquired above/below-market lease intangibles as of December 31, 2021 for 153 & 211 Second Avenue and Shady Grove Innovation District through the last lease expiration (in thousands):

	Acquired In-Place Lease Intangibles		Acquired Above-Market Lease Intangibles		Acquired Below-Market Lease Intangibles
2022	$	9,691	$	74	$	1,713
2023	151		25		39
2024	56		12		26

Boston Properties Limited Partnership

Real Estate Properties [Line Items]

Schedule of Real Estate Properties

Boston Properties Limited Partnership

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

	December 31, 2021		December 31, 2020
Land	$	4,964,986	$	4,971,990
Right of use assets - finance leases	237,507		237,393
Right of use assets - operating leases (1)	169,778		146,406
Land held for future development (2)	560,355		450,954
Buildings and improvements	14,014,010		13,498,098
Tenant improvements	2,894,025		2,752,880
Furniture, fixtures and equipment	51,695		49,606
Construction in progress	894,172		868,773
Total	23,786,528		22,976,100
Less: Accumulated depreciation	(5,772,018)		(5,428,576)
	$	18,014,510	$	17,547,524

_______________

(1)See Note 4.

(2)Includes pre-development costs.