SEC Schedule, Article 12-28, Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]

Item 15. Exhibits and Financial Statement Schedules.

(a) Financial Statement Schedule 

Boston Properties, Inc. Schedule 3—Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands)
Property Name	Type	Location	Encumbrances			Original				Costs Capitalized Subsequent to Acquisition		Land and Improvements		Building and Improvements		Land Held for Development		Development and Construction in Progress		Total		Accumulated Depreciation		Year(s) Built/Renovated	Year(s) Acquired	Depreciable Lives  (Years)
						Land		Building
767 Fifth Avenue (the General Motors Building)	Office	New York, NY	$	2,288,004		$	1,796,252	$	1,532,654	$	365,829	$	1,796,252	$	1,898,483	$	—	$	—	$	3,694,735	$	507,660	1968/2019	2013	(1)
Prudential Center	Office	Boston, MA	—			92,077		948,357		791,280		115,634		1,687,021		—		29,059		1,831,714		774,225		1965/1993/2002/2016-2017	1998/1999/2000	(1)
Embarcadero Center	Office	San Francisco, CA	—			179,697		847,410		524,483		195,986		1,355,604		—		—		1,551,590		781,405		1970/1989	1998-1999	(1)
399 Park Avenue	Office	New York, NY	—			339,200		700,358		408,846		354,107		1,094,297		—		—		1,448,404		482,752		1961/2018	2002	(1)
601 Lexington Avenue	Office	New York, NY	989,181			241,600		494,782		545,612		289,639		992,355		—		—		1,281,994		372,795		1977/1997/2021	2001	(1)
Salesforce Tower	Office	San Francisco, CA	—			200,349		946,205		7,623		200,349		953,828		—		—		1,154,177		159,274		2018	2013	(1)
200 Clarendon Street and Garage	Office	Boston, MA	—			219,543		667,884		251,372		250,910		887,889		—		—		1,138,799		338,529		1976	2010	(1)
250 West 55th Street	Office	New York, NY	—			285,263		603,167		52,917		285,263		656,084		—		—		941,347		198,081		2014	2007	(1)
100 Federal Street	Office	Boston, MA	—			131,067		435,954		127,199		131,067		563,153		—		—		694,220		172,079		1971-1975/2017	2012	(1)
Times Square Tower	Office	New York, NY	—			165,413		380,438		140,281		169,193		516,939		—		—		686,132		256,942		2004	2000	(1)
Madison Centre	Office	Seattle, WA	—			104,641		564,336		4,082		104,641		568,418		—		—		673,059		35,516		2017	2022	(1)
Carnegie Center	Office	Princeton, NJ	—			142,666		316,856		177,545		94,243		484,024		58,800		—		637,067		267,232		1983-2016	1998/1999/2000/2007/2014/2017/2019	(1)
Santa Monica Business Park	Office	Los Angeles, CA	295,649			46,360		410,421		164,229		210,471		410,535		4		—		621,010		865		1976-1980	2023	(1)
125 Broadway	Office	Cambridge, MA	—			126,364		433,662		4,000		126,364		437,662		—		—		564,026		20,717		2000	2022	(1)
Reston Next	Office	Reston, VA	—			35,549		525,277		—		2,901		557,925		—		—		560,826		32,504		2022	1998	(1)
Atlantic Wharf	Office	Boston, MA	—			63,988		454,537		39,399		63,988		493,936		—		—		557,924		180,686		2011	2007	(1)
2100 Pennsylvania Avenue	Office	Washington, DC	—			185,203		324,206		—		185,203		324,206		—		—		509,409		20,768		2023	N/A	(1)
599 Lexington Avenue	Office	New York, NY	—			81,040		100,507		258,659		87,852		352,354		—		—		440,206		197,429		1986	1997	(1)
Fountain Square	Office	Reston, VA	—			56,853		306,298		49,874		56,853		356,172		—		—		413,025		111,481		1986-1990	2012	(1)
510 Madison Avenue	Office	New York, NY	—			103,000		253,665		33,100		103,000		286,765		—		—		389,765		104,052		2012	2010	(1)
325 Main Street	Office	Cambridge, MA	—		(2)	21,596		312,492		30,933		21,596		343,425		—		—		365,021		14,833		2022	1997	(1)
680 Folsom Street	Office	San Francisco, CA	—			72,545		219,766		8,026		72,545		227,792		—		—		300,337		80,964		2014	2012	(1)
145 Broadway	Office	Cambridge, MA	—			121		273,013		26,359		23,367		276,126		—		—		299,493		35,390		2019	1997	(1)
2200 Pennsylvania Avenue	Office	Washington, DC	—			—		183,541		114,090		102,979		194,652		—		—		297,631		77,357		2011	2008	(1)
South of Market and Democracy Tower	Office	Reston, VA	—			13,603		237,479		30,952		13,687		268,347		—		—		282,034		108,973		2008-2009	2003	(1)
Bay Colony Corporate Center	Office	Waltham, MA	—			18,789		148,451		96,639		18,789		240,416		4,674		—		263,879		113,123		1985-1989	2011	(1)
535 Mission Street	Office	San Francisco, CA	—			40,933		148,378		4,629		40,934		153,006		—		—		193,940		46,615		2015	2013	(1)

Boston Properties, Inc. Schedule 3—Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands)
Property Name	Type	Location	Encumbrances		Original		Costs Capitalized Subsequent to Acquisition	Land and Improvements	Building and Improvements	Land Held for Development	Development and Construction in Progress	Total	Accumulated Depreciation	Year(s) Built/Renovated	Year(s) Acquired	Depreciable Lives  (Years)
					Land	Building
Mountain View Research Park	Office	Mountain View, CA	—		95,066	68,373	21,069	95,066	89,442	—	—	184,508	33,095	1977-1981/2007-2013	2013	(1)
Reservoir Place	Office	Waltham, MA	—		18,605	104,124	56,160	20,108	156,954	1,827	—	178,889	90,808	1955/1987/2017	1997/1998	(1)
140 Kendrick Street	Office	Needham, MA	—		18,095	66,905	71,861	19,092	137,769	—	—	156,861	46,586	2000	2004	(1)
1330 Connecticut Avenue	Office	Washington, DC	—		25,982	82,311	39,924	27,135	121,082	—	—	148,217	53,332	1984/2018	2004	(1)
880 Winter Street	Office	Waltham, MA	—		15,597	37,255	95,265	15,597	132,520	—	—	148,117	10,056	1998/2022	2019	(1)
One Freedom Square	Office	Reston, VA	—		9,929	84,504	48,985	11,293	132,125	—	—	143,418	68,406	2000	2003	(1)
Two Freedom Square	Office	Reston, VA	—		13,930	77,739	45,068	15,420	121,317	—	—	136,737	44,662	2001	2003	(1)
Kingstowne Towne Center	Office	Alexandria, VA	—		18,021	109,038	4,665	18,062	113,662	—	—	131,724	54,480	2003-2006	2007	(1)
One and Two Reston Overlook	Office	Reston, VA	—		16,456	66,192	45,224	16,179	111,693	—	—	127,872	61,572	1999	2000	(1)
Shady Grove Innovation District	Office	Rockville, MD	—		52,030	64,212	10,676	26,834	34,954	65,130	—	126,918	4,701	1968-1985	2021	(1)
Weston Corporate Center	Office	Weston, MA	—		25,753	92,312	1,038	25,854	93,249	—	—	119,103	41,485	2010	2001	(1)
355 Main Street	Office	Cambridge, MA	593,545		18,863	53,346	41,772	21,173	92,808	—	—	113,981	36,957	1981/1996/2013	2006	(1)
17Fifty Presidents Street	Office	Reston, VA	—		—	113,362	162	—	113,524	—	—	113,524	16,624	2020	2013	(1)
200 West Street	Office	Waltham, MA	—		16,148	24,983	71,199	16,813	95,160	357	—	112,330	28,192	1999/2021	1997	(1)
Discovery Square	Office	Reston, VA	—		11,198	71,782	21,744	12,533	92,191	—	—	104,724	57,015	2001	2003	(1)
10 CityPoint	Office	Waltham, MA	—		1,953	85,752	7,571	2,288	92,988	—	—	95,276	24,003	2016	1997	(1)
90 Broadway	Office	Cambridge, MA	—	(2)	19,104	52,078	22,742	20,785	73,139	—	—	93,924	31,538	1983/1998/2013	2006	(1)
Waltham Weston Corporate Center	Office	Waltham, MA	—		10,385	60,694	20,705	11,097	80,687	—	—	91,784	45,601	2003	1999	(1)
153 & 211 Second Avenue	Office	Waltham, MA	—		33,233	55,940	718	33,233	55,940	718	—	89,891	6,186	1964-2006	2021	(1)
230 CityPoint	Office	Waltham, MA	—		13,189	49,823	24,297	13,807	73,502	—	—	87,309	40,959	1992	2005	(1)
20 CityPoint	Office	Waltham, MA	—		4,887	72,764	7,072	4,887	79,836	—	—	84,723	13,031	2020	2007	(1)
Sumner Square	Office	Washington, DC	—		624	28,745	51,253	27,837	52,785	—	—	80,622	32,911	1985	1999	(1)
77 CityPoint	Office	Waltham, MA	—		13,847	60,383	1,506	14,023	61,713	—	—	75,736	26,943	2008	2001	(1)
2440 West El Camino Real	Office	Mountain View, CA	—		16,741	51,285	6,565	16,741	57,850	—	—	74,591	21,469	1987/2003	2011	(1)
Wisconsin Place	Office	Chevy Chase, MD	—		—	53,349	13,834	—	67,183	—	—	67,183	28,960	2009	2004	(1)
Reston Corporate Center	Office	Reston, VA	—		9,135	50,857	4,489	10,148	54,333	—	—	64,481	34,194	1984	1998	(1)
255 Main Street	Office	Cambridge, MA	—		134	25,110	33,330	548	58,026	—	—	58,574	43,927	1987	1997	(1)
University Place	Office	Cambridge, MA	—		—	37,091	15,768	4,807	48,052	—	—	52,859	37,130	1985	1998	(1)
890 Winter Street	Office	Waltham, MA	—		13,913	28,557	8,507	13,913	37,064	—	—	50,977	7,296	1999	2019	(1)
Capital Gallery	Office	Washington, DC	—		4,725	29,565	10,361	8,662	35,989	—	—	44,651	23,764	1981/2006	2007	(1)
North First Business Park	Office	San Jose, CA	—		23,398	13,069	5,258	23,378	18,347	—	—	41,725	17,354	1981	2007	(1)
150 Broadway	Office	Cambridge, MA	—		850	25,042	15,749	1,323	40,318	—	—	41,641	18,506	1999	1997	(1)
105 Broadway	Office	Cambridge, MA	—		1,299	12,943	12,723	2,395	24,570	—	—	26,965	16,847	1990	1997	(1)
Lexington Office Park	Office	Lexington, MA	—		998	1,426	19,924	1,263	19,470	1,615	—	22,348	17,200	1982	1997	(1)
The Point	Office	Waltham, MA	—		6,395	10,040	546	6,492	10,489	—	—	16,981	2,638	2015	2007	(1)

Boston Properties, Inc. Schedule 3—Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands)
Property Name	Type	Location	Encumbrances			Original				Costs Capitalized Subsequent to Acquisition		Land and Improvements			Building and Improvements			Land Held for Development			Development and Construction in Progress		Total		Accumulated Depreciation		Year(s) Built/Renovated	Year(s) Acquired	Depreciable Lives  (Years)
						Land		Building
690 Folsom Street	Office	San Francisco, CA	—			3,219		11,038		1,877		3,219			12,915			—			—		16,134		4,280		2015	2012	(1)
33 Hayden Avenue	Office	Lexington, MA	—			266		3,234		11,502		425			14,577			—			—		15,002		9,090		1979	1997	(1)
Avant Retail	Office	Reston, VA	—			1,499		6,647		2,577		1,499			9,224			—			—		10,723		3,587		2014	2010	(1)
92-100 Hayden Avenue	Office	Lexington, MA	—			594		6,748		1,922		778			8,486			—			—		9,264		7,388		1985	1997	(1)
32 Hartwell Avenue	Office	Lexington, MA	—			168		1,943		6,403		314			8,200			—			—		8,514		2,931		1968/1979/1987	1997	(1)
250 Binney Street	Office	Cambridge, MA	—			110		4,483		3,593		273			7,913						—		8,186		7,244		1983	1997	(1)
453 Ravendale Drive	Office	Mountain View, CA	—			5,477		1,090		1,286		5,477			2,376			—			—		7,853		1,086		1977	2012	(1)
17 Hartwell Avenue	Office	Lexington, MA	—			26		150		6,064		65			6,175						—		6,240		3,755		1968	1997	(1)
The Skylyne	Residential	Oakland, CA	—			28,962		239,077		1,792		28,962			240,869			—			—		269,831		20,181		2020	N/A	(1)
Signature at Reston	Residential	Reston, VA	—			27,076		190,580		3,817		27,076			194,397			—			—		221,473		27,876		2018	2013	(1)
Proto Kendall Square	Residential	Cambridge, MA	—			9,243		127,248		3,336		9,245			130,582			—			—		139,827		17,820		2018	2015	(1)
The Lofts at Atlantic Wharf	Residential	Boston, MA	—			3,529		54,891		2,509		3,529			57,400			—			—		60,929		18,631		2011	2007	(1)
Boston Marriott Cambridge	Hotel	Cambridge, MA	—			478		37,918		32,131		1,201			68,697			629			—		70,527		53,282		1986/2017	1997	(1)
Kendall Center Green Garage	Garage	Cambridge, MA	—		(2)	—		35,035		7,335		103			42,267			—			—		42,370		18,414		1984	2006	(1)
Kendall Center Yellow Garage	Garage	Cambridge, MA	—			1,256		15,697		1,743		1,434			17,262			—			—		18,696		7,857		2006	2004	(1)
290 Binney Street	Development	Cambridge, MA	—			—		—		243,099		1,054			—			—			242,045		243,099		—		N/A	1997	N/A
180 CityPoint	Development	Waltham, MA	—			—		—		214,754		10,908			108,970			—			94,876		214,754		541		N/A	2006	N/A
300 Binney Street	Development	Cambridge, MA	—			18,080		51,262		38,454		18,080			27,805			—			61,911		107,796		6,719		2013	2009	N/A
103 CityPoint	Development	Waltham, MA	—			—		—		88,190		4,672			3,025			8,672			71,821		88,190		18		N/A	2007	N/A
Reston Next Office Phase II	Development	Reston, VA	—			—		—		39,201		—			—			—			39,201		39,201		—		N/A	1998	N/A
Reston Next Retail	Development	Reston, VA	—			—		—		8,367		—			—			—			8,367		8,367		—		N/A	1998	N/A
343 Madison Avenue	Land	New York, NY	—			—		—		206,052		158,885			—			47,167			—		206,052		—		N/A	2023	N/A
777 Harrison Street	Land	San Francisco, CA	—			144,647		—		28,334		—			47			172,934			—		172,981		29		N/A	2020	N/A
Back Bay Station Master Plan	Land	Boston, MA	—			—		—		78,150		—			—			78,150			—		78,150		—		N/A	N/A	N/A
3625-3635 Peterson Way	Land	Santa Clara, CA	—			63,206		—		5,173		—			—			68,379			—		68,379		—		N/A	2016	N/A
Kendall Center Master Plan	Land	Cambridge, MA	—			—		—		48,857		—			—			48,857			—		48,857		—		N/A	1997	N/A
North First Master Plan	Land	San Jose, CA	—			35,004		—		4,068		—			—			39,072			—		39,072		—		N/A	2007	N/A
Plaza at Almaden	Land	San Jose, CA	—			—		—		38,163		—			—			38,163			—		38,163		—		N/A	2006	N/A
CityPoint South Master Plan	Land	Waltham, MA	—			—		—		25,594		—			—			25,594			—		25,594		—		N/A	N/A	N/A
Springfield Metro Center	Land	Springfield, VA	—			—		—		19,896		—			—			19,896			—		19,896		—		N/A	2007	N/A
Reston Gateway Master Plan	Land	Reston, VA	—			—		—		13,908		—			—			13,908			—		13,908		—		N/A	1998	N/A
Weston Quarry	Land	Weston, MA	—			—		—		1,249		—			—			1,249			—		1,249		—		N/A	2001	N/A
Broad Run Business Park	Land	Loudoun County, VA	—			—		—		1,186		—			—			1,186			—		1,186		—		N/A	1998	N/A
Reston Overlook Master Plan	Land	Reston, VA	—			—		—		80		—			—			80			—		80		—		N/A	2000	N/A
			$	4,166,379	(3)	$	5,637,035	$	15,478,086	$	6,306,350	$	5,953,798	(4)	$	20,223,332	(5)	$	697,061	(6)	$	547,280	$	27,421,471	$	6,841,404

Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $53,716. Accumulated Depreciation does not include approximately $40,324 of accumulated depreciation related to Furniture, Fixtures and Equipment. Office type includes office, life sciences, and retail properties.

The aggregate cost and accumulated depreciation for tax purposes was approximately $25.2 billion and $5.9 billion, respectively.

(1)Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(2)This property is encumbered with the mortgage note shown at 355 Main Street. See Note 7 to the Consolidated Financial Statements.

(3)Includes unamortized deferred financing costs and fair value debt adjustment totaling approximately $(33.6) million.

(4)Includes Right of Use Assets - Finance Leases and Right of Use Assets - Operating Leases of approximately $378,276 and $324,298, respectively.

(5)Includes Right of Use Assets - Finance Leases of approximately $23,404.

(6)Includes pre-development costs.

Boston Properties, Inc.

Real Estate and Accumulated Depreciation

December 31, 2023, 2022 and 2021

(dollars in thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

	2023		2022		2021
Real Estate:
Balance at the beginning of the year	$	25,744,214	$	24,108,220	$	23,303,303
Additions to/improvements of real estate	1,811,036		2,228,000		1,145,084
Assets sold/written-off	(133,779)		(592,006)		(340,167)
Balance at the end of the year	$	27,421,471	$	25,744,214	$	24,108,220
Accumulated Depreciation:
Balance at the beginning of the year	$	6,260,992	$	5,848,183	$	5,501,637
Depreciation expense	714,191		646,020		623,854
Assets sold/written-off	(133,779)		(233,211)		(277,308)
Balance at the end of the year	$	6,841,404	$	6,260,992	$	5,848,183

Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.

Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands)
						Original				Costs Capitalized Subsequent to Acquisition		Land and Improvements		Building and Improvements		Land Held for Development		Development and Construction in Progress		Total		Accumulated Depreciation		Year(s) Built/Renovated	Year(s) Acquired	Depreciable Lives (Years)
Property Name	Type	Location	Encumbrances			Land		Building
767 Fifth Avenue (the General Motors Building)	Office	New York, NY	$	2,288,004		$	1,796,252	$	1,532,654	$	365,829	$	1,796,252	$	1,898,483	$	—	$	—	$	3,694,735	$	507,660	1968/2019	2013	(1)
Prudential Center	Office	Boston, MA	—			92,077		948,357		732,224		100,535		1,643,064		—		29,059		1,772,658		754,356		1965/1993/2002/2016-2017	1998/1999/2000	(1)
Embarcadero Center	Office	San Francisco, CA	—			179,697		847,410		462,102		180,419		1,308,790		—		—		1,489,209		760,144		1970/1989	1998-1999	(1)
399 Park Avenue	Office	New York, NY	—			339,200		700,358		349,238		339,200		1,049,596		—		—		1,388,796		462,543		1961/2018	2002	(1)
601 Lexington Avenue	Office	New York, NY	989,181			241,600		494,782		508,526		279,281		965,627		—		—		1,244,908		360,656		1977/1997/2021	2001	(1)
Salesforce Tower	Office	San Francisco, CA	—			200,349		946,205		7,623		200,349		953,828		—		—		1,154,177		159,274		2018	2013	(1)
200 Clarendon Street and Garage	Office	Boston, MA	—			219,543		667,884		251,372		250,910		887,889		—		—		1,138,799		338,529		1976	2010	(1)
250 West 55th Street	Office	New York, NY	—			285,263		603,167		52,917		285,263		656,084		—		—		941,347		198,081		2014	2007	(1)
100 Federal Street	Office	Boston, MA	—			131,067		435,954		127,199		131,067		563,153		—		—		694,220		172,079		1971-1975/2017	2012	(1)
Madison Centre	Office	Seattle, WA	—			104,641		564,336		4,082		104,641		568,418						673,059		35,516		2017	2022	(1)
Times Square Tower	Office	New York, NY	—			165,413		380,438		102,302		159,694		488,459		—		—		648,153		244,067		2004	2000	(1)
Carnegie Center	Office	Princeton, NJ	—			142,666		316,856		162,582		90,501		472,803		58,800		—		622,104		262,096		1983-2016	1998/1999/2000/2007/2014/2017/2019	(1)
Santa Monica Business Park	Office	Los Angeles, CA	295,649			46,360		410,421		164,229		210,471		410,535		4		—		621,010		865		1976-1980	2023	(1)
125 Broadway	Office	Cambridge, MA	—			126,364		433,662		4,000		126,364		437,662		—		—		564,026		20,717		2000	2022	(1)
Reston Next	Office	Reston, VA	—			35,549		525,277		—		2,901		557,925		—		—		560,826		32,504		2022	1998	(1)
Atlantic Wharf	Office	Boston, MA	—			63,988		454,537		39,399		63,988		493,936		—		—		557,924		180,686		2011	2007	(1)
2100 Pennsylvania Avenue	Office	Washington, DC	—			185,203		324,206		—		185,203		324,206		—		—		509,409		20,768		2023	N/A	(1)
Fountain Square	Office	Reston, VA	—			56,853		306,298		49,874		56,853		356,172		—		—		413,025		111,481		1986-1990	2012	(1)
599 Lexington Avenue	Office	New York, NY	—			81,040		100,507		231,417		81,040		331,924		—		—		412,964		188,193		1986	1997	(1)
510 Madison Avenue	Office	New York, NY	—			103,000		253,665		33,100		103,000		286,765		—		—		389,765		104,052		2012	2010	(1)
325 Main Street	Office	Cambridge, MA	—		(2)	21,596		312,492		30,740		21,403		343,425		—		—		364,828		14,833		2022	1997	(1)
680 Folsom Street	Office	San Francisco, CA	—			72,545		219,766		8,026		72,545		227,792		—		—		300,337		80,964		2014	2012	(1)
145 Broadway	Office	Cambridge, MA	—			121		273,013		26,156		23,164		276,126		—		—		299,290		35,390		2019	1997	(1)
2200 Pennsylvania Avenue	Office	Washington, DC	—			—		183,541		114,090		102,979		194,652		—		—		297,631		77,357		2011	2008	(1)
South of Market and Democracy Tower	Office	Reston, VA	—			13,603		237,479		30,616		13,603		268,095		—		—		281,698		108,875		2008-2009	2003	(1)
Bay Colony Corporate Center	Office	Waltham, MA	—			18,789		148,451		96,639		18,789		240,416		4,674		—		263,879		113,123		1985-1989	2011	(1)
535 Mission Street	Office	San Francisco, CA	—			40,933		148,378		4,629		40,934		153,006		—		—		193,940		46,615		2015	2013	(1)
Mountain View Research Park	Office	Mountain View, CA	—			95,066		68,373		21,069		95,066		89,442		—		—		184,508		33,095		1977-1981/2007-2013	2013	(1)
Reservoir Place	Office	Waltham, MA	—			18,605		104,124		52,085		19,089		153,898		1,827		—		174,814		89,426		1955/1987/2017	1997/1998	(1)
140 Kendrick Street	Office	Needham, MA	—			18,095		66,905		67,871		18,095		134,776		—		—		152,871		45,233		2000	2004	(1)
880 Winter Street	Office	Waltham, MA	—			15,597		37,255		95,265		15,597		132,520		—		—		148,117		10,056		1998/2022	2019	(1)

Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands)
					Original		Costs Capitalized Subsequent to Acquisition	Land and Improvements	Building and Improvements	Land Held for Development	Development and Construction in Progress	Total	Accumulated Depreciation	Year(s) Built/Renovated	Year(s) Acquired	Depreciable Lives (Years)
Property Name	Type	Location	Encumbrances		Land	Building
1330 Connecticut Avenue	Office	Washington, DC	—		25,982	82,311	35,311	25,982	117,622	—	—	143,604	51,767	1984/2018	2004	(1)
One Freedom Square	Office	Reston, VA	—		9,929	84,504	43,348	9,883	127,898	—	—	137,781	66,495	2000	2003	(1)
Kingstowne Towne Center	Office	Alexandria, VA	—		18,021	109,038	4,501	18,021	113,539	—	—	131,560	54,432	2003-2006	2007	(1)
Two Freedom Square	Office	Reston, VA	—		13,930	77,739	38,856	13,866	116,659	—	—	130,525	42,556	2001	2003	(1)
Shady Grove Innovation District	Office	Rockville, MD	—		52,030	64,212	10,676	26,834	34,954	65,130	—	126,918	4,701	1968-1985	2021	(1)
One and Two Reston Overlook	Office	Reston, VA	—		16,456	66,192	40,806	15,074	108,380	—	—	123,454	60,074	1999	2000	(1)
Weston Corporate Center	Office	Weston, MA	—		25,753	92,312	1,038	25,854	93,249	—	—	119,103	41,485	2010	2001	(1)
355 Main Street	Office	Cambridge, MA	593,545		18,863	53,346	41,474	21,098	92,585	—	—	113,683	36,858	1981/1996/2013	2006	(1)
17Fifty Presidents Street	Office	Reston, VA	—		—	113,362	162	—	113,524	—	—	113,524	16,624	2020	2013	(1)
200 West Street	Office	Waltham, MA	—		16,148	24,983	68,538	16,148	93,164	357	—	109,669	27,290	1999/2021	1997	(1)
Discovery Square	Office	Reston, VA	—		11,198	71,782	16,199	11,146	88,033	—	—	99,179	55,135	2001	2003	(1)
10 CityPoint	Office	Waltham, MA	—		1,953	85,752	7,410	2,127	92,988	—	—	95,115	24,003	2016	1997	(1)
90 Broadway	Office	Cambridge, MA	—	(2)	19,104	52,078	22,563	20,741	73,004	—	—	93,745	31,484	1983/1998/2013	2006	(1)
153 & 211 Second Avenue	Office	Waltham, MA	—		33,233	55,940	718	33,233	55,940	718	—	89,891	6,186	1964-2006	2021	(1)
Waltham Weston Corporate Center	Office	Waltham, MA	—		10,385	60,694	17,718	10,350	78,447	—	—	88,797	44,588	2003	1999	(1)
230 CityPoint	Office	Waltham, MA	—		13,189	49,823	22,680	13,403	72,289	—	—	85,692	40,413	1992	2005	(1)
20 CityPoint	Office	Waltham, MA	—		4,887	72,764	7,072	4,887	79,836	—	—	84,723	13,031	2020	2007	(1)
Sumner Square	Office	Washington, DC	—		624	28,745	49,173	27,317	51,225	—	—	78,542	32,209	1985	1999	(1)
77 CityPoint	Office	Waltham, MA	—		13,847	60,383	1,401	13,997	61,634	—	—	75,631	26,911	2008	2001	(1)
2440 West El Camino Real	Office	Mountain View, CA	—		16,741	51,285	6,565	16,741	57,850	—	—	74,591	21,469	1987/2003	2011	(1)
Wisconsin Place	Office	Chevy Chase, MD	—		—	53,349	13,834	—	67,183	—	—	67,183	28,960	2009	2004	(1)
Reston Corporate Center	Office	Reston, VA	—		9,135	50,857	1,878	9,496	52,374	—	—	61,870	33,309	1984	1998	(1)
255 Main Street	Office	Cambridge, MA	—		134	25,110	31,674	134	56,784	—	—	56,918	43,368	1987	1997	(1)
University Place	Office	Cambridge, MA	—		—	37,091	14,318	4,807	46,602	—	—	51,409	36,037	1985	1998	(1)
890 Winter Street	Office	Waltham, MA	—		13,913	28,557	8,507	13,913	37,064	—	—	50,977	7,296	1999	2019	(1)
North First Business Park	Office	San Jose, CA	—		23,398	13,069	5,235	23,372	18,330	—	—	41,702	17,347	1981	2007	(1)
Capital Gallery	Office	Washington, DC	—		4,725	29,565	5,698	6,128	33,860	—	—	39,988	22,801	1981/2006	2007	(1)
150 Broadway	Office	Cambridge, MA	—		850	25,042	13,744	822	38,814	—	—	39,636	17,823	1999	1997	(1)
105 Broadway	Office	Cambridge, MA	—		1,299	12,943	10,617	1,868	22,991	—	—	24,859	16,133	1990	1997	(1)
Lexington Office Park	Office	Lexington, MA	—		998	1,426	19,160	1,072	18,897	1,615	—	21,584	16,945	1982	1997	(1)
The Point	Office	Waltham, MA	—		6,395	10,040	546	6,492	10,489	—	—	16,981	2,638	2015	2007	(1)
690 Folsom Street	Office	San Francisco, CA	—		3,219	11,038	1,877	3,219	12,915	—	—	16,134	4,280	2015	2012	(1)
33 Hayden Avenue	Office	Lexington, MA	—		266	3,234	10,865	266	14,099	—	—	14,365	8,873	1979	1997	(1)
Avant Retail	Office	Reston, VA	—		1,499	6,647	2,577	1,499	9,224	—	—	10,723	3,587	2014	2010	(1)
92-100 Hayden Avenue	Office	Lexington, MA	—		594	6,748	1,193	595	7,940	—	—	8,535	7,140	1985	1997	(1)

Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2023 (dollars in thousands)
						Original				Costs Capitalized Subsequent to Acquisition		Land and Improvements			Building and Improvements			Land Held for Development			Development and Construction in Progress		Total		Accumulated Depreciation		Year(s) Built/Renovated	Year(s) Acquired	Depreciable Lives (Years)
Property Name	Type	Location	Encumbrances			Land		Building
32 Hartwell Avenue	Office	Lexington, MA	—			168		1,943		5,817		168			7,760			—			—		7,928		2,731		1968/1979/1987	1997	(1)
453 Ravendale Drive	Office	Mountain View, CA	—			5,477		1,090		1,286		5,477			2,376			—			—		7,853		1,086		1977	2012	(1)
250 Binney Street	Office	Cambridge, MA	—			110		4,483		2,939		110			7,422						—		7,532		7,026		1983	1997	(1)
17 Hartwell Avenue	Office	Lexington, MA	—			26		150		5,907		26			6,057			—			—		6,083		3,701		1968	1997	(1)
The Skylyne	Residential	Oakland, CA	—			28,962		239,077		1,792		28,962			240,869			—			—		269,831		20,181		2020	N/A	(1)
Signature at Reston	Residential	Reston, VA	—			27,076		190,580		3,817		27,076			194,397			—			—		221,473		27,876		2018	2013	(1)
Proto Kendall Square	Residential	Cambridge, MA	—			9,243		127,248		3,336		9,245			130,582			—			—		139,827		17,820		2018	2015	(1)
The Lofts at Atlantic Wharf	Residential	Boston, MA	—			3,529		54,891		2,509		3,529			57,400			—			—		60,929		18,631		2011	2007	(1)
Boston Marriott Cambridge	Hotel	Cambridge, MA	—			478		37,918		29,240		478			66,529			629			—		67,636		52,302		1986/2017	1997	(1)
Kendall Center Green Garage	Garage	Cambridge, MA	—		(2)	—		35,035		6,921		—			41,956			—			—		41,956		18,275		1984	2006	(1)
Kendall Center Yellow Garage	Garage	Cambridge, MA	—			1,256		15,697		1,031		1,256			16,728			—			—		17,984		7,619		2006	2004	(1)
290 Binney Street	Development	Cambridge, MA	—			—		—		242,683		638			—			—			242,045		242,683		—		N/A	1997	N/A
180 CityPoint	Development	Waltham, MA	—			—		—		214,754		10,908			108,970			—			94,876		214,754		541		N/A	2006	N/A
300 Binney Street	Development	Cambridge, MA	—			18,080		51,262		38,454		18,080			27,805			—			61,911		107,796		6,719		2013	2009	N/A
103 CityPoint	Development	Waltham, MA	—			—		—		88,188		4,670			3,025			8,672			71,821		88,188		18		N/A	2007	N/A
Reston Next Office Phase II	Development	Reston, VA	—			—		—		39,201		—			—			—			39,201		39,201		—		N/A	1998	N/A
Reston Next Retail	Development	Reston, VA	—			—		—		8,367		—			—			—			8,367		8,367		—		N/A	1998	N/A
343 Madison Avenue	Land	New York, NY	—			—		—		206,052		158,885			—			47,167			—		206,052		—		N/A	2023	N/A
777 Harrison Street	Land	San Francisco, CA	—			144,647		—		28,334		—			47			172,934			—		172,981		29		N/A	2020	N/A
Back Bay Station Master Plan	Land	Boston, MA	—			—		—		78,150		—			—			78,150			—		78,150		—		N/A	N/A	N/A
3625-3635 Peterson Way	Land	Santa Clara, CA	—			63,206		—		5,173		—			—			68,379			—		68,379		—		N/A	2016	N/A
Kendall Center Master Plan	Land	Cambridge, MA	—			—		—		48,857		—			—			48,857			—		48,857		—		N/A	1997	N/A
North First Master Plan	Land	San Jose, CA	—			35,004		—		4,068		—			—			39,072			—		39,072		—		N/A	2007	N/A
Plaza at Almaden	Land	San Jose, CA	—			—		—		38,163		—			—			38,163			—		38,163		—		N/A	2006	N/A
CityPoint South Master Plan	Land	Waltham, MA	—			—		—		25,594		—			—			25,594			—		25,594		—		N/A	N/A	N/A
Springfield Metro Center	Land	Springfield, VA	—			—		—		19,896		—			—			19,896			—		19,896		—		N/A	2007	N/A
Reston Gateway Master Plan	Land	Reston, VA	—			—		—		13,908		—			—			13,908			—		13,908		—		N/A	1998	N/A
Weston Quarry	Land	Weston, MA	—			—		—		1,249		—			—			1,249			—		1,249		—		N/A	2001	N/A
Broad Run Business Park	Land	Loudoun County, VA	—			—		—		1,186		—			—			1,186			—		1,186		—		N/A	1998	N/A
Reston Overlook Master Plan	Land	Reston, VA	—			—		—		80		—			—			80			—		80		—		N/A	2000	N/A
			$	4,166,379	(3)	$	5,637,035	$	15,478,086	$	5,940,085	$	5,859,089	(4)	$	19,951,776	(5)	$	697,061	(6)	$	547,280	$	27,055,206	$	6,718,037

Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $53,716. Accumulated Depreciation does not include approximately $40,324 of accumulated depreciation related to Furniture, Fixtures and Equipment. Office type includes office, life sciences, and retail properties.

The aggregate cost and accumulated depreciation for tax purposes was approximately $28.2 billion and $6.6 billion, respectively.

(1)Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(2)This property is encumbered with the mortgage note shown at 355 Main Street. See Note 7 to the Consolidated Financial Statements.

(3)Includes unamortized deferred financing costs and fair value debt adjustment totaling approximately $(33.6) million.

(4)Includes Right of Use Assets - Finance Leases and Right of Use Assets - Operating Leases of approximately $378,276 and $324,298, respectively.

(5)Includes Right of Use Assets - Finance Leases of approximately $23,404.

(6)Includes pre-development costs.

Boston Properties Limited Partnership

Real Estate and Accumulated Depreciation

December 31, 2023, 2022 and 2021

(dollars in thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

	2023		2022		2021
Real Estate:
Balance at the beginning of the year	$	25,376,700	$	23,734,833	$	22,926,494
Additions to/improvements of real estate	1,811,036		2,228,000		1,145,084
Assets sold/written-off	(132,530)		(586,133)		(336,745)
Balance at the end of the year	$	27,055,206	$	25,376,700	$	23,734,833
Accumulated Depreciation:
Balance at the beginning of the year	$	6,143,384	$	5,736,240	$	5,396,111
Depreciation expense	707,183		638,538		615,553
Assets sold/written-off	(132,530)		(231,394)		(275,424)
Balance at the end of the year	$	6,718,037	$	6,143,384	$	5,736,240

Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.