falsedesktopBXP2020-09-30000165642320000046{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\t\tPage\nPART I. FINANCIAL INFORMATION\t\t\nITEM 1.\tFinancial Statements (unaudited)\t1\nBoston Properties Inc.\t\t\n\ta) Consolidated Balance Sheets as of September 30 2020 and December 31 2019\t1\n\tb) Consolidated Statements of Operations for the three and nine months ended September 30 2020 and 2019\t3\n\tc) Consolidated Statements of Comprehensive Income for the three and nine months ended September 30 2020 and 2019\t4\n\td) Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30 2020 and 2019\t5\n\te) Consolidated Statements of Cash Flows for the nine months ended September 30 2020 and 2019\t7\nBoston Properties Limited Partnership\t\t\n\ta) Consolidated Balance Sheets as of September 30 2020 and December 31 2019\t10\n\tb) Consolidated Statements of Operations for the three and nine months ended September 30 2020 and 2019\t12\n\tc) Consolidated Statements of Comprehensive Income for the three and nine months ended September 30 2020 and 2019\t13\n\td) Consolidated Statements of Capital and Noncontrolling Interests for the three and nine months ended September 30 2020 and 2019\t14\n\te) Consolidated Statements of Cash Flows for the nine months ended September 30 2020 and 2019\t16\nBoston Properties Inc. and Boston Properties Limited Partnership\t\t\n\tNotes to the Consolidated Financial Statements\t19\nITEM 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t47\nITEM 3.\tQuantitative and Qualitative Disclosures about Market Risk\t99\nITEM 4.\tControls and Procedures\t100\nPART II. OTHER INFORMATION\t\t\nITEM 1.\tLegal Proceedings\t102\nITEM 1A.\tRisk Factors\t102\nITEM 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t105\nITEM 3.\tDefaults Upon Senior Securities\t106\nITEM 4.\tMine Safety Disclosures\t106\nITEM 5.\tOther Information\t106\nITEM 6.\tExhibits\t107\nSIGNATURES\t\t108\n", "q10k_tbl_1": "BOSTON PROPERTIES INC. CONSOLIDATED BALANCE SHEETS (Unaudited and in thousands except for share and par value amounts)\t\t\n\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\nReal estate at cost (amounts related to variable interest entities (\"VIEs\") of $6592925 and $6497031 at September 30 2020 and December 31 2019 respectively)\t22770691\t22502976\nRight of use assets - finance leases (amounts related to VIEs of $21000 and $21000 at September 30 2020 and December 31 2019 respectively)\t237382\t237394\nRight of use assets - operating leases\t146973\t148640\nLess: accumulated depreciation (amounts related to VIEs of $(1134450) and $(1058495) at September 30 2020 and December 31 2019 respectively)\t(5413709)\t(5266798)\nTotal real estate\t17741337\t17622212\nCash and cash equivalents (amounts related to VIEs of $267229 and $280033 at September 30 2020 and December 31 2019 respectively)\t1714783\t644950\nCash held in escrows\t50006\t46936\nInvestments in securities\t34934\t36747\nTenant and other receivables net (amounts related to VIEs of $12968 and $28918 at September 30 2020 and December 31 2019 respectively)\t76330\t112807\nRelated party note receivable net\t77592\t80000\nNotes receivable net\t25304\t15920\nAccrued rental income net (amounts related to VIEs of $323220 and $298318 at September 30 2020 and December 31 2019 respectively)\t1111078\t1038788\nDeferred charges net (amounts related to VIEs of $187025 and $214769 at September 30 2020 and December 31 2019 respectively)\t644036\t689213\nPrepaid expenses and other assets (amounts related to VIEs of $53529 and $20931 at September 30 2020 and December 31 2019 respectively)\t106524\t41685\nInvestments in unconsolidated joint ventures\t1377291\t955647\nTotal assets\t22959215\t21284905\nLIABILITIES AND EQUITY\t\t\nLiabilities:\t\t\nMortgage notes payable net (amounts related to VIEs of $2910460 and $2918806 at September 30 2020 and December 31 2019 respectively)\t2912494\t2922408\nUnsecured senior notes net\t9636397\t8390459\nUnsecured line of credit\t0\t0\nUnsecured term loan net\t499270\t498939\nLease liabilities - finance leases (amounts related to VIEs of $20266 and $20189 at September 30 2020 and December 31 2019 respectively)\t233288\t224042\nLease liabilities - operating leases\t201337\t200180\nAccounts payable and accrued expenses (amounts related to VIEs of $26848 and $45777 at September 30 2020 and December 31 2019 respectively)\t345959\t377553\nDividends and distributions payable\t171070\t170713\nAccrued interest payable\t88826\t90016\nOther liabilities (amounts related to VIEs of $128451 and $140110 at September 30 2020 and December 31 2019 respectively)\t369932\t387994\nTotal liabilities\t14458573\t13262304\nCommitments and contingencies\t0\t0\nRedeemable deferred stock units- 69787 and 60676 units outstanding at redemption value at September 30 2020 and December 31 2019 respectively\t5604\t8365\n", "q10k_tbl_2": "BOSTON PROPERTIES INC. CONSOLIDATED BALANCE SHEETS (Unaudited and in thousands except for share and par value amounts)\t\t\n\tSeptember 30 2020\tDecember 31 2019\nEquity:\t\t\nStockholders' equity attributable to Boston Properties Inc.:\t\t\nExcess stock $0.01 par value 150000000 shares authorized none issued or outstanding\t0\t0\nPreferred stock $0.01 par value 50000000 shares authorized;\t\t\n5.25% Series B cumulative redeemable preferred stock $0.01 par value liquidation preference $2500 per share 92000 shares authorized 80000 shares issued and outstanding at September 30 2020 and December 31 2019\t200000\t200000\nCommon stock $0.01 par value 250000000 shares authorized 155715200 and 154869198 issued and 155636300 and 154790298 outstanding at September 30 2020 and December 31 2019 respectively\t1556\t1548\nAdditional paid-in capital\t6348076\t6294719\nDividends in excess of earnings\t(364720)\t(760523)\nTreasury common stock at cost 78900 shares at September 30 2020 and December 31 2019\t(2722)\t(2722)\nAccumulated other comprehensive loss\t(52622)\t(48335)\nTotal stockholders' equity attributable to Boston Properties Inc.\t6129568\t5684687\nNoncontrolling interests:\t\t\nCommon units of Boston Properties Limited Partnership\t634796\t600860\nProperty partnerships\t1730674\t1728689\nTotal equity\t8495038\t8014236\nTotal liabilities and equity\t22959215\t21284905\n", "q10k_tbl_3": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\nRevenue\t\t\t\t\nLease\t666674\t692225\t2006904\t2051665\nParking and other\t16327\t25582\t54777\t76807\nHotel\t90\t13014\t7014\t36796\nDevelopment and management services\t7281\t10303\t23285\t29566\nDirect reimbursements of payroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nTotal revenue\t693268\t743553\t2100597\t2203061\nExpenses\t\t\t\t\nOperating\t\t\t\t\nRental\t258261\t265603\t761014\t781091\nHotel\t3164\t8743\t11958\t25686\nGeneral and administrative\t27862\t31147\t102059\t107980\nPayroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nTransaction costs\t307\t538\t1254\t1415\nDepreciation and amortization\t166456\t165862\t515738\t507867\nTotal expenses\t458946\t474322\t1400640\t1432266\nOther income (expense)\t\t\t\t\nIncome (loss) from unconsolidated joint ventures\t(6873)\t(649)\t(5410)\t47528\nGains (losses) on sales of real estate\t(209)\t(15)\t613723\t766\nInterest and other income (loss)\t(45)\t7178\t4277\t14546\nGains from investments in securities\t1858\t106\t965\t4240\nImpairment loss\t0\t0\t0\t(24038)\nLoss from early extinguishment of debt\t0\t(28010)\t0\t(28010)\nInterest expense\t(110993)\t(106471)\t(319726)\t(309837)\nNet income\t118060\t141370\t993786\t475990\nNet (income) loss attributable to noncontrolling interests\t\t\t\t\nNoncontrolling interests in property partnerships\t(15561)\t(18470)\t(34280)\t(54782)\nNoncontrolling interest-common units of the Operating Partnership\t(10020)\t(12504)\t(97090)\t(43133)\nNet income attributable to Boston Properties Inc.\t92479\t110396\t862416\t378075\nPreferred dividends\t(2625)\t(2625)\t(7875)\t(7875)\nNet income attributable to Boston Properties Inc. common shareholders\t89854\t107771\t854541\t370200\nBasic earnings per common share attributable to Boston Properties Inc. common shareholders:\t\t\t\t\nNet income\t0.58\t0.70\t5.49\t2.40\nWeighted average number of common shares outstanding\t155645\t154577\t155349\t154553\nDiluted earnings per common share attributable to Boston Properties Inc. common shareholders:\t\t\t\t\nNet income\t0.58\t0.70\t5.49\t2.39\nWeighted average number of common and common equivalent shares outstanding\t155670\t154820\t155447\t154847\n", "q10k_tbl_4": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\nNet income\t118060\t141370\t993786\t475990\nOther comprehensive income (loss):\t\t\t\t\nEffective portion of interest rate contracts\t1027\t(2253)\t(9352)\t(9307)\nAmortization of interest rate contracts (1)\t1677\t1666\t5020\t4998\nOther comprehensive income (loss)\t2704\t(587)\t(4332)\t(4309)\nComprehensive income\t120764\t140783\t989454\t471681\nNet income attributable to noncontrolling interests\t(25581)\t(30974)\t(131370)\t(97915)\nOther comprehensive (income) loss attributable to noncontrolling interests\t(405)\t(69)\t45\t54\nComprehensive income attributable to Boston Properties Inc.\t94778\t109740\t858129\t373820\n", "q10k_tbl_5": "\tCommon Stock\t\tPreferred Stock\tAdditional Paid-in Capital\tDividends in Excess of Earnings\tTreasury Stock at cost\tAccumulated Other Comprehensive Loss\tNoncontrolling Interests - Common Units\tNoncontrolling Interests - Property Partnerships\tTotal\n\tShares\tAmount\t\nEquity June 30 2020\t155622\t1556\t200000\t6340665\t(302511)\t(2722)\t(54921)\t640491\t1724588\t8547146\nRedemption of operating partnership units to common stock\t9\t0\t0\t338\t0\t0\t0\t(338)\t0\t0\nAllocated net income for the period\t0\t0\t0\t0\t92934\t0\t0\t9565\t15561\t118060\nDividends/distributions declared\t0\t0\t0\t0\t(155143)\t0\t0\t(17183)\t0\t(172326)\nShares issued pursuant to stock purchase plan\t5\t0\t0\t434\t0\t0\t0\t0\t0\t434\nNet activity from stock option and incentive plan\t0\t0\t0\t1390\t0\t0\t0\t7249\t0\t8639\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t1407\t1407\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t(11026)\t(11026)\nEffective portion of interest rate contracts\t0\t0\t0\t0\t0\t0\t917\t110\t0\t1027\nAmortization of interest rate contracts\t0\t0\t0\t0\t0\t0\t1382\t151\t144\t1677\nReallocation of noncontrolling interest\t0\t0\t0\t5249\t0\t0\t0\t(5249)\t0\t0\nEquity September 30 2020\t155636\t1556\t200000\t6348076\t(364720)\t(2722)\t(52622)\t634796\t1730674\t8495038\nEquity June 30 2019\t154563\t1546\t200000\t6278961\t(710592)\t(2722)\t(51340)\t608593\t1696221\t8020667\nRedemption of operating partnership units to common stock\t7\t0\t0\t223\t0\t0\t0\t(223)\t0\t0\nAllocated net income for the period\t0\t0\t0\t0\t110394\t0\t0\t12506\t18470\t141370\nDividends/distributions declared\t0\t0\t0\t0\t(149468)\t0\t0\t(17200)\t0\t(166668)\nShares issued pursuant to stock purchase plan\t2\t0\t0\t315\t0\t0\t0\t0\t0\t315\nNet activity from stock option and incentive plan\t0\t0\t0\t(7219)\t0\t0\t0\t6774\t0\t(445)\nSale of an interest in property partnerships\t0\t0\t0\t(4216)\t0\t0\t0\t0\t4216\t0\nAcquisition of noncontrolling interest in property partnership\t0\t0\t0\t43\t0\t0\t0\t0\t0\t43\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t14820\t14820\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t(13748)\t(13748)\nEffective portion of interest rate contracts\t0\t0\t0\t0\t0\t0\t(2022)\t(231)\t0\t(2253)\nAmortization of interest rate contracts\t0\t0\t0\t0\t0\t0\t1366\t156\t144\t1666\nReallocation of noncontrolling interest\t0\t0\t0\t6685\t0\t0\t0\t(6685)\t0\t0\nEquity September 30 2019\t154572\t1546\t200000\t6274792\t(749666)\t(2722)\t(51996)\t603690\t1720123\t7995767\n", "q10k_tbl_6": "\tCommon Stock\t\tPreferred Stock\tAdditional Paid-in Capital\tDividends in Excess of Earnings\tTreasury Stock at cost\tAccumulated Other Comprehensive Loss\tNoncontrolling Interests - Common Units\tNoncontrolling Interests - Property Partnerships\tTotal\n\tShares\tAmount\t\nEquity December 31 2019\t154790\t1548\t200000\t6294719\t(760523)\t(2722)\t(48335)\t600860\t1728689\t8014236\nCumulative effect of a change in accounting principle\t0\t0\t0\t0\t(1505)\t0\t0\t(174)\t0\t(1679)\nRedemption of operating partnership units to common stock\t774\t8\t0\t26674\t0\t0\t0\t(26682)\t0\t0\nAllocated net income for the period\t0\t0\t0\t0\t862416\t0\t0\t97090\t34280\t993786\nDividends/distributions declared\t0\t0\t0\t0\t(465108)\t0\t0\t(51821)\t0\t(516929)\nShares issued pursuant to stock purchase plan\t7\t0\t0\t759\t0\t0\t0\t0\t0\t759\nNet activity from stock option and incentive plan\t65\t0\t0\t9646\t0\t0\t0\t32278\t0\t41924\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t7364\t7364\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t(40091)\t(40091)\nEffective portion of interest rate contracts\t0\t0\t0\t0\t0\t0\t(8416)\t(936)\t0\t(9352)\nAmortization of interest rate contracts\t0\t0\t0\t0\t0\t0\t4129\t459\t432\t5020\nReallocation of noncontrolling interest\t0\t0\t0\t16278\t0\t0\t0\t(16278)\t0\t0\nEquity September 30 2020\t155636\t1556\t200000\t6348076\t(364720)\t(2722)\t(52622)\t634796\t1730674\t8495038\nEquity December 31 2018\t154458\t1545\t200000\t6407623\t(675534)\t(2722)\t(47741)\t619352\t1711445\t8213968\nCumulative effect of a change in accounting principle\t0\t0\t0\t0\t(3864)\t0\t0\t(445)\t(70)\t(4379)\nRedemption of operating partnership units to common stock\t42\t1\t0\t1434\t0\t0\t0\t(1435)\t0\t0\nAllocated net income for the period\t0\t0\t0\t0\t378075\t0\t0\t43133\t54782\t475990\nDividends/distributions declared\t0\t0\t0\t0\t(448343)\t0\t0\t(51591)\t0\t(499934)\nShares issued pursuant to stock purchase plan\t6\t0\t0\t688\t0\t0\t0\t0\t0\t688\nNet activity from stock option and incentive plan\t66\t0\t0\t(2665)\t0\t0\t0\t29552\t0\t26887\nSale of an interest in property partnerships\t0\t0\t0\t(4216)\t0\t0\t0\t0\t4216\t0\nAcquisition of noncontrolling interest in property partnerships\t0\t0\t0\t(162462)\t0\t0\t0\t0\t(24501)\t(186963)\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t26968\t26968\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t0\t0\t0\t(53149)\t(53149)\nEffective portion of interest rate contracts\t0\t0\t0\t0\t0\t0\t(8354)\t(953)\t0\t(9307)\nAmortization of interest rate contracts\t0\t0\t0\t0\t0\t0\t4099\t467\t432\t4998\nReallocation of noncontrolling interest\t0\t0\t0\t34390\t0\t0\t0\t(34390)\t0\t0\nEquity September 30 2019\t154572\t1546\t200000\t6274792\t(749666)\t(2722)\t(51996)\t603690\t1720123\t7995767\n", "q10k_tbl_7": "BOSTON PROPERTIES INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in thousands)\t\t\n\tNine months ended September 30\t\n\t2020\t2019\nCash flows from operating activities:\t\t\nNet income\t993786\t475990\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nDepreciation and amortization\t515738\t507867\nAmortization of right of use assets - operating leases\t1667\t1821\nImpairment loss\t0\t24038\nNon-cash compensation expense\t36152\t33253\nLoss (Income) from unconsolidated joint ventures\t5410\t(47528)\nDistributions of net cash flow from operations of unconsolidated joint ventures\t22285\t16770\nGains from investments in securities\t(965)\t(4240)\nAllowance for current expected credit losses\t1997\t0\nNon-cash portion of interest expense\t17397\t16594\nSettlement of accreted debt discount on redemption of unsecured senior notes\t0\t(763)\nLoss from early extinguishment of debt\t0\t28010\nGains on sales of real estate\t(613723)\t(766)\nChange in assets and liabilities:\t\t\nTenant and other receivables net\t18543\t(20677)\nNotes receivable net\t(395)\t(376)\nAccrued rental income net\t(85843)\t(19327)\nPrepaid expenses and other assets\t(60365)\t(63857)\nLease liabilities - operating leases\t1157\t1191\nAccounts payable and accrued expenses\t8273\t32467\nAccrued interest payable\t(1202)\t(6104)\nOther liabilities\t(24868)\t(78449)\nTenant leasing costs\t(52621)\t(76122)\nTotal adjustments\t(211363)\t343802\nNet cash provided by operating activities\t782423\t819792\nCash flows from investing activities:\t\t\nAcquisitions of real estate\t(135698)\t(148912)\nConstruction in progress\t(358824)\t(390275)\nBuilding and other capital improvements\t(116894)\t(129340)\nTenant improvements\t(172401)\t(191532)\nRight of use assets - finance leases\t0\t(5152)\nProceeds from sales of real estate\t505679\t83486\nCapital contributions to unconsolidated joint ventures\t(158374)\t(65499)\nCapital distributions from unconsolidated joint ventures\t55123\t136807\nCash and cash equivalents deconsolidated\t0\t(24112)\nIssuance of notes receivable net\t(9800)\t0\nInvestments in securities net\t2778\t(1937)\nNet cash used in investing activities\t(388411)\t(736466)\n", "q10k_tbl_8": "BOSTON PROPERTIES INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in thousands)\t\t\n\tNine months ended September 30\t\n\t2020\t2019\nCash flows from financing activities:\t\t\nRepayments of mortgage notes payable\t(12795)\t(15510)\nProceeds from unsecured senior notes\t1248125\t1548106\nRedemption of unsecured senior notes\t0\t(699237)\nBorrowings on unsecured line of credit\t265000\t380000\nRepayments of unsecured line of credit\t(265000)\t(380000)\nPayments on finance lease obligations\t0\t(502)\nDeferred financing costs\t(10416)\t(13130)\nDebt prepayment and extinguishment costs\t0\t(27270)\nNet proceeds from equity transactions\t3276\t2562\nDividends and distributions\t(516572)\t(499627)\nContributions from noncontrolling interests in property partnerships\t7364\t26968\nDistributions to noncontrolling interests in property partnerships\t(40091)\t(53149)\nAcquisition of noncontrolling interests in property partnership\t0\t(186963)\nNet cash provided by financing activities\t678891\t82248\nNet increase in cash and cash equivalents and cash held in escrows\t1072903\t165574\nCash and cash equivalents and cash held in escrows beginning of period\t691886\t639191\nCash and cash equivalents and cash held in escrows end of period\t1764789\t804765\nReconciliation of cash and cash equivalents and cash held in escrows:\t\t\nCash and cash equivalents beginning of period\t644950\t543359\nCash held in escrows beginning of period\t46936\t95832\nCash and cash equivalents and cash held in escrows beginning of period\t691886\t639191\nCash and cash equivalents end of period\t1714783\t751210\nCash held in escrows end of period\t50006\t53555\nCash and cash equivalents and cash held in escrows end of period\t1764789\t804765\nSupplemental disclosures:\t\t\nCash paid for interest\t335591\t338033\nInterest capitalized\t41329\t41253\nNon-cash investing and financing activities:\t\t\nWrite-off of fully depreciated real estate\t(73584)\t(86496)\nChange in real estate included in accounts payable and accrued expenses\t(30924)\t95857\nRight of use assets obtained in exchange for lease liabilities\t0\t287540\nPrepaid rent reclassified to right of use asset\t0\t15000\nAccrued rental income net deconsolidated\t(4558)\t0\nTenant leasing costs net deconsolidated\t(3462)\t0\nBuilding and other capital improvements net deconsolidated\t(111889)\t(12767)\nTenant improvements net deconsolidated\t(12331)\t0\nRight of use asset - finance lease deconsolidated\t0\t(135004)\nLease liability - finance lease deconsolidated\t0\t119534\nInvestment in unconsolidated joint venture recorded upon deconsolidation\t347898\t29246\n", "q10k_tbl_9": "BOSTON PROPERTIES INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in thousands)\t\t\n\tNine months ended September 30\t\n\t2020\t2019\nDividends and distributions declared but not paid\t171070\t165421\nConversions of noncontrolling interests to stockholders' equity\t26682\t1435\nIssuance of restricted securities to employees and non-employee directors\t43244\t38923\n", "q10k_tbl_10": "BOSTON PROPERTIES LIMITED PARTNERSHIP CONSOLIDATED BALANCE SHEETS (Unaudited and in thousands except for unit amounts)\t\t\n\tSeptember 30 2020\tDecember 31 2019\nASSETS\t\t\nReal estate at cost (amounts related to variable interest entities (\"VIEs\") of $6592925 and $6497031 at September 30 2020 and December 31 2019 respectively)\t22393882\t22107755\nRight of use assets - finance leases (amounts related to VIEs of $21000 and $21000 at September 30 2020 and December 31 2019 respectively)\t237382\t237394\nRight of use assets - operating leases\t146973\t148640\nLess: accumulated depreciation (amounts related to VIEs of $(1134450) and $(1058495) at September 30 2020 and December 31 2019 respectively)\t(5309930)\t(5162908)\nTotal real estate\t17468307\t17330881\nCash and cash equivalents (amounts related to VIEs of $267229 and $280033 at September 30 2020 and December 31 2019 respectively)\t1714783\t644950\nCash held in escrows\t50006\t46936\nInvestments in securities\t34934\t36747\nTenant and other receivables net (amounts related to VIEs of $12968 and $28918 at September 30 2020 and December 31 2019 respectively)\t76330\t112807\nRelated party note receivable net\t77592\t80000\nNotes receivable net\t25304\t15920\nAccrued rental income net (amounts related to VIEs of $323220 and $298318 at September 30 2020 and December 31 2019 respectively)\t1111078\t1038788\nDeferred charges net (amounts related to VIEs of $187025 and $214769 at September 30 2020 and December 31 2019 respectively)\t644036\t689213\nPrepaid expenses and other assets (amounts related to VIEs of $53529 and $20931 at September 30 2020 and December 31 2019 respectively)\t106524\t41685\nInvestments in unconsolidated joint ventures\t1377291\t955647\nTotal assets\t22686185\t20993574\nLIABILITIES AND CAPITAL\t\t\nLiabilities:\t\t\nMortgage notes payable net (amounts related to VIEs of $2910460 and $2918806 at September 30 2020 and December 31 2019 respectively)\t2912494\t2922408\nUnsecured senior notes net\t9636397\t8390459\nUnsecured line of credit\t0\t0\nUnsecured term loan net\t499270\t498939\nLease liabilities - finance leases (amounts related to VIEs of $20266 and $20189 at September 30 2020 and December 31 2019 respectively)\t233288\t224042\nLease liabilities - operating leases\t201337\t200180\nAccounts payable and accrued expenses (amounts related to VIEs of $26848 and $45777 at September 30 2020 and December 31 2019 respectively)\t345959\t377553\nDividends and distributions payable\t171070\t170713\nAccrued interest payable\t88826\t90016\nOther liabilities (amounts related to VIEs of $128451 and $140110 at September 30 2020 and December 31 2019 respectively)\t369932\t387994\nTotal liabilities\t14458573\t13262304\nCommitments and contingencies\t0\t0\nRedeemable deferred stock units- 69787 and 60676 units outstanding at redemption value at September 30 2020 and December 31 2019 respectively\t5604\t8365\n", "q10k_tbl_11": "BOSTON PROPERTIES LIMITED PARTNERSHIP CONSOLIDATED BALANCE SHEETS (Unaudited and in thousands except for unit amounts)\t\t\n\tSeptember 30 2020\tDecember 31 2019\nNoncontrolling interests:\t\t\nRedeemable partnership units- 16120074 and 16764466 common units and 1338400 and 1143215 long term incentive units outstanding at redemption value at September 30 2020 and December 31 2019 respectively\t1406484\t2468753\nCapital:\t\t\n5.25% Series B cumulative redeemable preferred units liquidation preference $2500 per unit 80000 units issued and outstanding at September 30 2020 and December 31 2019\t193623\t193623\nBoston Properties Limited Partnership partners' capital- 1730948 and 1726980 general partner units and 153905352 and 153063318 limited partner units outstanding at September 30 2020 and December 31 2019 respectively\t4943849\t3380175\nAccumulated other comprehensive loss\t(52622)\t(48335)\nTotal partners' capital\t5084850\t3525463\nNoncontrolling interests in property partnerships\t1730674\t1728689\nTotal capital\t6815524\t5254152\nTotal liabilities and capital\t22686185\t20993574\n", "q10k_tbl_12": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\nRevenue\t\t\t\t\nLease\t666674\t692225\t2006904\t2051665\nParking and other\t16327\t25582\t54777\t76807\nHotel\t90\t13014\t7014\t36796\nDevelopment and management services\t7281\t10303\t23285\t29566\nDirect reimbursements of payroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nTotal revenue\t693268\t743553\t2100597\t2203061\nExpenses\t\t\t\t\nOperating\t\t\t\t\nRental\t258261\t265603\t761014\t781091\nHotel\t3164\t8743\t11958\t25686\nGeneral and administrative\t27862\t31147\t102059\t107980\nPayroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nTransaction costs\t307\t538\t1254\t1415\nDepreciation and amortization\t164706\t164020\t510400\t501901\nTotal expenses\t457196\t472480\t1395302\t1426300\nOther income (expense)\t\t\t\t\nIncome (loss) from unconsolidated joint ventures\t(6873)\t(649)\t(5410)\t47528\nGains (losses) on sales of real estate\t(209)\t(15)\t626686\t915\nInterest and other income (loss)\t(45)\t7178\t4277\t14546\nGains from investments in securities\t1858\t106\t965\t4240\nImpairment loss\t0\t0\t0\t(22272)\nLoss from early extinguishment of debt\t0\t(28010)\t0\t(28010)\nInterest expense\t(110993)\t(106471)\t(319726)\t(309837)\nNet income\t119810\t143212\t1012087\t483871\nNet (income) loss attributable to noncontrolling interests\t\t\t\t\nNoncontrolling interests in property partnerships\t(15561)\t(18470)\t(34280)\t(54782)\nNet income attributable to Boston Properties Limited Partnership\t104249\t124742\t977807\t429089\nPreferred distributions\t(2625)\t(2625)\t(7875)\t(7875)\nNet income attributable to Boston Properties Limited Partnership common unitholders\t101624\t122117\t969932\t421214\nBasic earnings per common unit attributable to Boston Properties Limited Partnership\t\t\t\t\nNet income\t0.59\t0.71\t5.61\t2.45\nWeighted average number of common units outstanding\t172677\t172215\t172628\t172183\nDiluted earnings per common unit attributable to Boston Properties Limited Partnership\t\t\t\t\nNet income\t0.59\t0.71\t5.61\t2.44\nWeighted average number of common and common equivalent units outstanding\t172702\t172458\t172726\t172477\n", "q10k_tbl_13": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\nNet income\t119810\t143212\t1012087\t483871\nOther comprehensive income (loss):\t\t\t\t\nEffective portion of interest rate contracts\t1027\t(2253)\t(9352)\t(9307)\nAmortization of interest rate contracts (1)\t1677\t1666\t5020\t4998\nOther comprehensive income (loss)\t2704\t(587)\t(4332)\t(4309)\nComprehensive income\t122514\t142625\t1007755\t479562\nComprehensive income attributable to noncontrolling interests\t(15705)\t(18614)\t(34712)\t(55214)\nComprehensive income attributable to Boston Properties Limited Partnership\t106809\t124011\t973043\t424348\n", "q10k_tbl_14": "\tUnits\t\tCapital\t\t\t\t\t\n\tGeneral Partner\tLimited Partner\tPartners' Capital (General and Limited Partners)\tPreferred Units\tAccumulated Other Comprehensive Loss\tNoncontrolling Interests - Property Partnerships\tTotal Capital\tNoncontrolling Interests - Redeemable Partnership Units\nEquity June 30 2020\t1731\t153891\t4828066\t193623\t(54921)\t1724588\t6691356\t1581010\nContributions\t0\t5\t421\t0\t0\t0\t421\t(219)\nAllocated net income for the period\t0\t0\t92059\t2625\t0\t15561\t110245\t9565\nDistributions\t0\t0\t(152518)\t(2625)\t0\t0\t(155143)\t(17183)\nUnearned compensation\t0\t0\t1403\t0\t0\t0\t1403\t7468\nConversion of redeemable partnership units\t0\t9\t338\t0\t0\t0\t338\t(338)\nAdjustment to reflect redeemable partnership units at redemption value\t0\t0\t174080\t0\t0\t0\t174080\t(174080)\nEffective portion of interest rate contracts\t0\t0\t0\t0\t917\t0\t917\t110\nAmortization of interest rate contracts\t0\t0\t0\t0\t1382\t144\t1526\t151\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t1407\t1407\t0\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t(11026)\t(11026)\t0\nEquity September 30 2020\t1731\t153905\t4943849\t193623\t(52622)\t1730674\t6815524\t1406484\nEquity June 30 2019\t1726\t152837\t3562910\t193623\t(51340)\t1696221\t5401414\t2324238\nContributions\t0\t2\t(3915)\t0\t0\t0\t(3915)\t0\nAllocated net income for the period\t0\t0\t109611\t2625\t0\t18470\t130706\t12506\nDistributions\t0\t0\t(146843)\t(2625)\t0\t0\t(149468)\t(17200)\nUnearned compensation\t0\t0\t(7205)\t0\t0\t0\t(7205)\t6774\nConversion of redeemable partnership units\t0\t7\t223\t0\t0\t0\t223\t(223)\nAdjustment to reflect redeemable partnership units at redemption value\t0\t0\t(9252)\t0\t0\t0\t(9252)\t9252\nEffective portion of interest rate contracts\t0\t0\t0\t0\t(2022)\t0\t(2022)\t(231)\nAmortization of interest rate contracts\t0\t0\t0\t0\t1366\t144\t1510\t156\nAcquisition of noncontrolling interest in property partnership\t0\t0\t43\t0\t0\t0\t43\t0\nSale of an interest in property partnerships\t0\t0\t0\t0\t0\t4216\t4216\t0\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t14820\t14820\t0\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t(13748)\t(13748)\t0\nEquity September 30 2019\t1726\t152846\t3505572\t193623\t(51996)\t1720123\t5367322\t2335272\n", "q10k_tbl_15": "\tUnits\t\tCapital\t\t\t\t\t\n\tGeneral Partner\tLimited Partner\tPartners' Capital (General and Limited Partners)\tPreferred Units\tAccumulated Other Comprehensive Loss\tNoncontrolling Interests - Property Partnerships\tTotal Capital\tNoncontrolling Interests - Redeemable Partnership Units\nEquity December 31 2019\t1727\t153063\t3380175\t193623\t(48335)\t1728689\t5254152\t2468753\nCumulative effect of a change in accounting principle\t0\t0\t(1505)\t0\t0\t0\t(1505)\t(174)\nContributions\t1\t73\t7583\t0\t0\t0\t7583\t39424\nAllocated net income for the period\t0\t0\t872842\t7875\t0\t34280\t914997\t97090\nDistributions\t0\t0\t(457233)\t(7875)\t0\t0\t(465108)\t(51821)\nUnearned compensation\t0\t0\t2822\t0\t0\t0\t2822\t(7146)\nConversion of redeemable partnership units\t3\t769\t26682\t0\t0\t0\t26682\t(26682)\nAdjustment to reflect redeemable partnership units at redemption value\t0\t0\t1112483\t0\t0\t0\t1112483\t(1112483)\nEffective portion of interest rate contracts\t0\t0\t0\t0\t(8416)\t0\t(8416)\t(936)\nAmortization of interest rate contracts\t0\t0\t0\t0\t4129\t432\t4561\t459\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t7364\t7364\t0\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t(40091)\t(40091)\t0\nEquity September 30 2020\t1731\t153905\t4943849\t193623\t(52622)\t1730674\t6815524\t1406484\nEquity December 31 2018\t1722\t152736\t4054996\t193623\t(47741)\t1711445\t5912323\t2000591\nCumulative effect of a change in accounting principle\t0\t0\t(3864)\t0\t0\t(70)\t(3934)\t(445)\nContributions\t3\t69\t1787\t0\t0\t0\t1787\t35482\nAllocated net income for the period\t0\t0\t378081\t7875\t0\t54782\t440738\t43133\nDistributions\t0\t0\t(440468)\t(7875)\t0\t0\t(448343)\t(51591)\nUnearned compensation\t0\t0\t(7980)\t0\t0\t0\t(7980)\t(5930)\nConversion of redeemable partnership units\t1\t41\t1435\t0\t0\t0\t1435\t(1435)\nAdjustment to reflect redeemable partnership units at redemption value\t0\t0\t(315953)\t0\t0\t0\t(315953)\t315953\nEffective portion of interest rate contracts\t0\t0\t0\t0\t(8354)\t0\t(8354)\t(953)\nAmortization of interest rate contracts\t0\t0\t0\t0\t4099\t432\t4531\t467\nAcquisition of noncontrolling interest in property partnership\t0\t0\t(162462)\t0\t0\t(24501)\t(186963)\t0\nSale of an interest in property partnerships\t0\t0\t0\t0\t0\t4216\t4216\t0\nContributions from noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t26968\t26968\t0\nDistributions to noncontrolling interests in property partnerships\t0\t0\t0\t0\t0\t(53149)\t(53149)\t0\nEquity September 30 2019\t1726\t152846\t3505572\t193623\t(51996)\t1720123\t5367322\t2335272\n", "q10k_tbl_16": "BOSTON PROPERTIES LIMITED PARTNERSHIP CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in thousands)\t\t\n\tNine months ended September 30\t\n\t2020\t2019\nCash flows from operating activities:\t\t\nNet income\t1012087\t483871\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nDepreciation and amortization\t510400\t501901\nAmortization of right of use assets - operating leases\t1667\t1821\nImpairment loss\t0\t22272\nNon-cash compensation expense\t36152\t33253\nLoss (Income) from unconsolidated joint ventures\t5410\t(47528)\nDistributions of net cash flow from operations of unconsolidated joint ventures\t22285\t16770\nGains from investments in securities\t(965)\t(4240)\nAllowance for current expected credit losses\t1997\t0\nNon-cash portion of interest expense\t17397\t16594\nSettlement of accreted debt discount on redemption of unsecured senior notes\t0\t(763)\nLoss from early extinguishment of debt\t0\t28010\nGains on sales of real estate\t(626686)\t(915)\nChange in assets and liabilities:\t\t\nTenant and other receivables net\t18543\t(20677)\nNotes receivable net\t(395)\t(376)\nAccrued rental income net\t(85843)\t(19327)\nPrepaid expenses and other assets\t(60365)\t(63857)\nLease liabilities - operating leases\t1157\t1191\nAccounts payable and accrued expenses\t8273\t32467\nAccrued interest payable\t(1202)\t(6104)\nOther liabilities\t(24868)\t(78449)\nTenant leasing costs\t(52621)\t(76122)\nTotal adjustments\t(229664)\t335921\nNet cash provided by operating activities\t782423\t819792\nCash flows from investing activities:\t\t\nAcquisitions of real estate\t(135698)\t(148912)\nConstruction in progress\t(358824)\t(390275)\nBuilding and other capital improvements\t(116894)\t(129340)\nTenant improvements\t(172401)\t(191532)\nRight of use assets - finance leases\t0\t(5152)\nProceeds from sales of real estate\t505679\t83486\nCapital contributions to unconsolidated joint ventures\t(158374)\t(65499)\nCapital distributions from unconsolidated joint ventures\t55123\t136807\nCash and cash equivalents deconsolidated\t0\t(24112)\nIssuance of notes receivable net\t(9800)\t0\nInvestments in securities net\t2778\t(1937)\nNet cash used in investing activities\t(388411)\t(736466)\n", "q10k_tbl_17": "BOSTON PROPERTIES LIMITED PARTNERSHIP CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in thousands)\t\t\n\tNine months ended September 30\t\n\t2020\t2019\nCash flows from financing activities:\t\t\nRepayments of mortgage notes payable\t(12795)\t(15510)\nProceeds from unsecured senior notes\t1248125\t1548106\nRedemption of unsecured senior notes\t0\t(699237)\nBorrowings on unsecured line of credit\t265000\t380000\nRepayments of unsecured line of credit\t(265000)\t(380000)\nPayments on finance lease obligations\t0\t(502)\nDeferred financing costs\t(10416)\t(13130)\nDebt prepayment and extinguishment costs\t0\t(27270)\nNet proceeds from equity transactions\t3276\t2562\nDistributions\t(516572)\t(499627)\nContributions from noncontrolling interests in property partnerships\t7364\t26968\nDistributions to noncontrolling interests in property partnerships\t(40091)\t(53149)\nAcquisition of noncontrolling interest in property partnership\t0\t(186963)\nNet cash provided by financing activities\t678891\t82248\nNet increase in cash and cash equivalents and cash held in escrows\t1072903\t165574\nCash and cash equivalents and cash held in escrows beginning of period\t691886\t639191\nCash and cash equivalents and cash held in escrows end of period\t1764789\t804765\nReconciliation of cash and cash equivalents and cash held in escrows:\t\t\nCash and cash equivalents beginning of period\t644950\t543359\nCash held in escrows beginning of period\t46936\t95832\nCash and cash equivalents and cash held in escrows beginning of period\t691886\t639191\nCash and cash equivalents end of period\t1714783\t751210\nCash held in escrows end of period\t50006\t53555\nCash and cash equivalents and cash held in escrows end of period\t1764789\t804765\nSupplemental disclosures:\t\t\nCash paid for interest\t335591\t338033\nInterest capitalized\t41329\t41253\nNon-cash investing and financing activities:\t\t\nWrite-off of fully depreciated real estate\t(73584)\t(86496)\nChange in real estate included in accounts payable and accrued expenses\t(30924)\t95857\nRight of use assets obtained in exchange for lease liabilities\t0\t287540\nPrepaid rent reclassified to right of use asset\t0\t15000\nAccrued rental income net deconsolidated\t(4558)\t0\nTenant leasing costs net deconsolidated\t(3462)\t0\nBuilding and other capital improvements net deconsolidated\t(111889)\t(12767)\nTenant improvements net deconsolidated\t(12331)\t0\nRight of use asset - finance lease deconsolidated\t0\t(135004)\nLease liability - finance lease deconsolidated\t0\t119534\nInvestment in unconsolidated joint venture recorded upon deconsolidation\t347898\t29246\n", "q10k_tbl_18": "BOSTON PROPERTIES LIMITED PARTNERSHIP CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in thousands)\t\t\n\tNine months ended September 30\t\n\t2020\t2019\nDistributions declared but not paid\t171070\t165421\nConversions of redeemable partnership units to partners' capital\t26682\t1435\nIssuance of restricted securities to employees and non-employee directors\t43244\t38923\n", "q10k_tbl_19": "Financial Instrument\tLevel\tRange\tWeighted Average\nRelated party note receivable\tLevel 3\t3.65%\t3.65%\nNotes receivable\tLevel 3\t3.62% - 8.00%\t5.31%\nMortgage notes payable\tLevel 3\t1.82% - 3.25%\t2.11%\nUnsecured term loan / line of credit\tLevel 3\t1.05%\t1.05%\n", "q10k_tbl_20": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tCarrying Amount\tEstimated Fair Value\tCarrying Amount\tEstimated Fair Value\nRelated party note receivable net\t77592\t84990\t80000\t81931\nNotes receivable net\t25304\t25974\t15920\t14978\nTotal\t102896\t110964\t95920\t96909\nMortgage notes payable net\t2912494\t3183294\t2922408\t2984956\nUnsecured senior notes net\t9636397\t10491966\t8390459\t8826375\nUnsecured line of credit\t0\t0\t0\t0\nUnsecured term loan net\t499270\t500388\t498939\t500561\nTotal\t13048161\t14175648\t11811806\t12311892\n", "q10k_tbl_21": "\tSeptember 30 2020\tDecember 31 2019\nLand\t5069206\t5111606\nRight of use assets - finance leases\t237382\t237394\nRight of use assets - operating leases\t146973\t148640\nLand held for future development (1)\t446392\t254828\nBuildings and improvements\t13748127\t13646054\nTenant improvements\t2687911\t2656439\nFurniture fixtures and equipment\t49209\t44313\nConstruction in progress\t769846\t789736\nTotal\t23155046\t22889010\nLess: Accumulated depreciation\t(5413709)\t(5266798)\n\t17741337\t17622212\n", "q10k_tbl_22": "\tSeptember 30 2020\tDecember 31 2019\nLand\t4971990\t5011153\nRight of use assets - finance leases\t237382\t237394\nRight of use assets - operating leases\t146973\t148640\nLand held for future development (1)\t446392\t254828\nBuildings and improvements\t13468534\t13351286\nTenant improvements\t2687911\t2656439\nFurniture fixtures and equipment\t49209\t44313\nConstruction in progress\t769846\t789736\nTotal\t22778237\t22493789\nLess: Accumulated depreciation\t(5309930)\t(5162908)\n\t17468307\t17330881\n", "q10k_tbl_23": "\tThree months ended September 30\t\tNine months ended September 30\t\nLease Revenue\t2020\t2019\t2020\t2019\nFixed contractual payments\t557384\t566294\t1673855\t1678100\nVariable lease payments\t109290\t125931\t333049\t373565\n\t666674\t692225\t2006904\t2051665\n", "q10k_tbl_24": "\t\t\t\tCarrying Value of Investment (1)\t\nEntity\tProperties\tNominal % Ownership\t\tSeptember 30 2020\tDecember 31 2019\n\t\t\t\t(in thousands)\t\nSquare 407 Limited Partnership\tMarket Square North\t50.0%\t\t(3864)\t(4872)\nBP/CRF Metropolitan Square LLC\tMetropolitan Square\t20.0%\t\t(7166)\t9134\n901 New York LLC\t901 New York Avenue\t25.0%\t(2)\t(12187)\t(12113)\nWP Project Developer LLC\tWisconsin Place Land and Infrastructure\t33.3%\t(3)\t35682\t36789\nAnnapolis Junction NFM LLC\tAnnapolis Junction\t50.0%\t(4)\t13238\t25391\n540 Madison Venture LLC\t540 Madison Avenue\t60.0%\t(5)\t105\t2953\n500 North Capitol Venture LLC\t500 North Capitol Street NW\t30.0%\t\t(6239)\t(5439)\n501 K Street LLC\t1001 6th Street\t50.0%\t(6)\t42640\t42496\nPodium Developer LLC\tThe Hub on Causeway - Podium\t50.0%\t\t49092\t49466\nResidential Tower Developer LLC\tHub50House\t50.0%\t\t52055\t55092\nHotel Tower Developer LLC\tThe Hub on Causeway - Hotel Air Rights\t50.0%\t\t10469\t9883\nOffice Tower Developer LLC\t100 Causeway Street\t50.0%\t\t56572\t56606\n1265 Main Office JV LLC\t1265 Main Street\t50.0%\t\t4027\t3780\nBNY Tower Holdings LLC\tDock 72\t50.0%\t\t98844\t94804\nBNYTA Amenity Operator LLC\tDock 72\t50.0%\t\t236\tN/A\nCA-Colorado Center Limited Partnership\tColorado Center\t50.0%\t\t232065\t252069\n7750 Wisconsin Avenue LLC\t7750 Wisconsin Avenue\t50.0%\t\t57720\t56247\nBP-M 3HB Venture LLC\t3 Hudson Boulevard\t25.0%\t\t106546\t67499\nSMBP Venture LP\tSanta Monica Business Park\t55.0%\t\t147015\t163937\nPlatform 16 Holdings LP\tPlatform 16\t55.0%\t(7)\t104422\t29501\nGateway Portfolio Holdings LLC\tGateway Commons\t50.0%\t(8)\t339383\tN/A\nRosecrans-Sepulveda Partners 4 LLC\tBeach Cities Media Center\t50.0%\t\t27180\tN/A\n\t\t\t\t1347835\t933223\n", "q10k_tbl_25": "\tSeptember 30 2020\tDecember 31 2019\n\t(in thousands)\t\nASSETS\t\t\nReal estate and development in process net (1)\t4651694\t3904400\nOther assets\t560764\t502706\nTotal assets\t5212458\t4407106\nLIABILITIES AND MEMBERS'/PARTNERS' EQUITY\t\t\nMortgage and notes payable net\t2558499\t2218853\nOther liabilities (2)\t651744\t749675\nMembers'/Partners' equity\t2002215\t1438578\nTotal liabilities and members'/partners' equity\t5212458\t4407106\nCompany's share of equity\t948569\t591905\nBasis differentials (3)\t399266\t341318\nCarrying value of the Company's investments in unconsolidated joint ventures (4)\t1347835\t933223\n", "q10k_tbl_26": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t\t\nTotal revenue (1)\t87724\t75940\t270490\t239099\nExpenses\t\t\t\t\nOperating\t37572\t28839\t106677\t89472\nDepreciation and amortization\t35810\t23477\t105235\t76941\nTotal expenses\t73382\t52316\t211912\t166413\nOther income (expense)\t\t\t\t\nInterest expense\t(25481)\t(20483)\t(71370)\t(62043)\nGains on sales of real estate\t0\t(812)\t11720\t33760\nNet income\t(11139)\t2329\t(1072)\t44403\nCompany's share of net income\t(4421)\t392\t855\t24352\nBasis differential (2)\t(2452)\t(1041)\t(6265)\t23176\nIncome from unconsolidated joint ventures\t(6873)\t(649)\t(5410)\t47528\n", "q10k_tbl_27": "\tCoupon/ Stated Rate\tEffective Rate(1)\tPrincipal Amount\tMaturity Date(2)\n10 Year Unsecured Senior Notes\t4.125%\t4.289%\t850000\tMay 15 2021\n11 Year Unsecured Senior Notes\t3.850%\t3.954%\t1000000\tFebruary 1 2023\n10.5 Year Unsecured Senior Notes\t3.125%\t3.279%\t500000\tSeptember 1 2023\n10.5 Year Unsecured Senior Notes\t3.800%\t3.916%\t700000\tFebruary 1 2024\n7 Year Unsecured Senior Notes\t3.200%\t3.350%\t850000\tJanuary 15 2025\n10 Year Unsecured Senior Notes\t3.650%\t3.766%\t1000000\tFebruary 1 2026\n10 Year Unsecured Senior Notes\t2.750%\t3.495%\t1000000\tOctober 1 2026\n10 Year Unsecured Senior Notes\t4.500%\t4.628%\t1000000\tDecember 1 2028\n10 Year Unsecured Senior Notes\t3.400%\t3.505%\t850000\tJune 21 2029\n10.5 Year Unsecured Senior Notes\t2.900%\t2.984%\t700000\tMarch 15 2030\n10.75 Year Unsecured Senior Notes\t3.250%\t3.343%\t1250000\tJanuary 30 2031\nTotal principal\t\t\t9700000\t\nNet unamortized discount\t\t\t(16880)\t\nDeferred financing costs net\t\t\t(46723)\t\nTotal\t\t\t9636397\t\n", "q10k_tbl_28": "Record Date\tPayment Date\tDistributions per OP Unit and LTIP Unit\tDistributions per MYLTIP Unit\nSeptember 30 2020\tOctober 30 2020\t0.98\t0.098\nJune 30 2020\tJuly 31 2020\t0.98\t0.098\nMarch 31 2020\tApril 30 2020\t0.98\t0.098\nDecember 31 2019\tJanuary 30 2020\t0.98\t0.098\n", "q10k_tbl_29": "Record Date\tPayment Date\tDistributions per OP Unit and LTIP Unit\tDistributions per MYLTIP Unit\nSeptember 30 2019\tOctober 31 2019\t0.95\t0.095\nJune 28 2019\tJuly 31 2019\t0.95\t0.095\nMarch 29 2019\tApril 30 2019\t0.95\t0.095\nDecember 31 2018\tJanuary 30 2019\t0.95\t0.095\n", "q10k_tbl_30": "Record Date\tPayment Date\tDividend (Per Share)\tDistribution (Per Unit)\nSeptember 30 2020\tOctober 30 2020\t0.98\t0.98\nJune 30 2020\tJuly 31 2020\t0.98\t0.98\nMarch 31 2020\tApril 30 2020\t0.98\t0.98\nDecember 31 2019\tJanuary 30 2020\t0.98\t0.98\nSeptember 30 2019\tOctober 31 2019\t0.95\t0.95\nJune 28 2019\tJuly 31 2019\t0.95\t0.95\nMarch 29 2019\tApril 30 2019\t0.95\t0.95\nDecember 31 2018\tJanuary 30 2019\t0.95\t0.95\n", "q10k_tbl_31": "Record Date\tPayment Date\tDividend (Per Share)\nNovember 4 2020\tNovember 16 2020\t32.8125\nAugust 3 2020\tAugust 17 2020\t32.8125\nMay 1 2020\tMay 15 2020\t32.8125\nFebruary 4 2020\tFebruary 18 2020\t32.8125\nNovember 1 2019\tNovember 15 2019\t32.8125\nAugust 2 2019\tAugust 15 2019\t32.8125\nMay 3 2019\tMay 15 2019\t32.8125\nFebruary 4 2019\tFebruary 15 2019\t32.8125\n", "q10k_tbl_32": "\tThree months ended September 30 2020\t\t\n\tIncome (Numerator)\tShares (Denominator)\tPer Share Amount\n\t(in thousands except for per share amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t89854\t155645\t0.58\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t25\t0\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t89854\t155670\t0.58\n\tThree months ended September 30 2019\t\t\n\tIncome (Numerator)\tShares (Denominator)\tPer Share Amount\n\t(in thousands except for per share amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t107771\t154577\t0.70\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t243\t0\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t107771\t154820\t0.70\n", "q10k_tbl_33": "\tNine months ended September 30 2020\t\t\n\tIncome (Numerator)\tShares (Denominator)\tPer Share Amount\n\t(in thousands except for per share amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t854541\t155349\t5.50\nAllocation of undistributed earnings to participating securities\t(1150)\t0\t(0.01)\nNet income attributable to Boston Properties Inc. common shareholders\t853391\t155349\t5.49\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t98\t0\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t853391\t155447\t5.49\n\tNine months ended September 30 2019\t\t\n\tIncome (Numerator)\tShares (Denominator)\tPer Share Amount\n\t(in thousands except for per share amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t370200\t154553\t2.40\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t294\t(0.01)\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t370200\t154847\t2.39\n", "q10k_tbl_34": "\tThree months ended September 30 2020\t\t\n\tIncome (Numerator)\tUnits (Denominator)\tPer Unit Amount\n\t(in thousands except for per unit amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t101624\t172677\t0.59\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t25\t0\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t101624\t172702\t0.59\n\tThree months ended September 30 2019\t\t\n\tIncome (Numerator)\tUnits (Denominator)\tPer Unit Amount\n\t(in thousands except for per unit amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t122117\t172215\t0.71\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t243\t0\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t122117\t172458\t0.71\n", "q10k_tbl_35": "\tNine months ended September 30 2020\t\t\n\tIncome (Numerator)\tUnits (Denominator)\tPer Unit Amount\n\t(in thousands except for per unit amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t969932\t172628\t5.62\nAllocation of undistributed earnings to participating securities\t(1278)\t0\t(0.01)\nNet income attributable to Boston Properties Limited Partnership common unitholders\t968654\t172628\t5.61\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t98\t0\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t968654\t172726\t5.61\n", "q10k_tbl_36": "\tNine months ended September 30 2019\t\t\n\tIncome (Numerator)\tUnits (Denominator)\tPer Unit Amount\n\t(in thousands except for per unit amounts)\t\t\nBasic Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t421214\t172183\t2.45\nEffect of Dilutive Securities:\t\t\t\nStock Based Compensation\t0\t294\t(0.01)\nDiluted Earnings:\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t421214\t172477\t2.44\n", "q10k_tbl_37": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t\t\nNet income attributable to Boston Properties Inc. common shareholders\t89854\t107771\t854541\t370200\nAdd:\t\t\t\t\nPreferred dividends\t2625\t2625\t7875\t7875\nNoncontrolling interest-common units of the Operating Partnership\t10020\t12504\t97090\t43133\nNoncontrolling interests in property partnerships\t15561\t18470\t34280\t54782\nInterest expense\t110993\t106471\t319726\t309837\nLoss from early extinguishment of debt\t0\t28010\t0\t28010\nImpairment loss\t0\t0\t0\t24038\nNet operating income from unconsolidated joint ventures\t24938\t23065\t81607\t73129\nDepreciation and amortization expense\t166456\t165862\t515738\t507867\nTransaction costs\t307\t538\t1254\t1415\nPayroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nGeneral and administrative expense\t27862\t31147\t102059\t107980\nLess:\t\t\t\t\nNet operating income attributable to noncontrolling interests in property partnerships\t42160\t46249\t122248\t138896\nGains from investments in securities\t1858\t106\t965\t4240\nInterest and other income (loss)\t(45)\t7178\t4277\t14546\nGains (losses) on sales of real estate\t(209)\t(15)\t613723\t766\nIncome (loss) from unconsolidated joint ventures\t(6873)\t(649)\t(5410)\t47528\nDirect reimbursements of payroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nDevelopment and management services revenue\t7281\t10303\t23285\t29566\nCompany's share of Net Operating Income\t404444\t433291\t1255082\t1292724\n", "q10k_tbl_38": "\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(in thousands)\t\t\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t101624\t122117\t969932\t421214\nAdd:\t\t\t\t\nPreferred distributions\t2625\t2625\t7875\t7875\nNoncontrolling interests in property partnerships\t15561\t18470\t34280\t54782\nInterest expense\t110993\t106471\t319726\t309837\nLoss from early extinguishment of debt\t0\t28010\t0\t28010\nImpairment loss\t0\t0\t0\t22272\nNet operating income from unconsolidated joint ventures\t24938\t23065\t81607\t73129\nDepreciation and amortization expense\t164706\t164020\t510400\t501901\nTransaction costs\t307\t538\t1254\t1415\nPayroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nGeneral and administrative expense\t27862\t31147\t102059\t107980\nLess:\t\t\t\t\nNet operating income attributable to noncontrolling interests in property partnerships\t42160\t46249\t122248\t138896\nGains from investments in securities\t1858\t106\t965\t4240\nInterest and other income (loss)\t(45)\t7178\t4277\t14546\nGains (losses) on sales of real estate\t(209)\t(15)\t626686\t915\nIncome (loss) from unconsolidated joint ventures\t(6873)\t(649)\t(5410)\t47528\nDirect reimbursements of payroll and related costs from management services contracts\t2896\t2429\t8617\t8227\nDevelopment and management services revenue\t7281\t10303\t23285\t29566\nCompany's share of Net Operating Income\t404444\t433291\t1255082\t1292724\n", "q10k_tbl_39": "\tBoston\tLos Angeles\tNew York\tSan Francisco\tWashington DC\tTotal\nRental Revenue: (1)\t\t\t\t\t\t\nOffice\t225652\t0\t239535\t128165\t79931\t673283\nResidential\t3043\t0\t0\t23\t6652\t9718\nHotel\t90\t0\t0\t0\t0\t90\nTotal\t228785\t0\t239535\t128188\t86583\t683091\n% of Grand Totals\t33.48%\t-%\t35.07%\t18.77%\t12.68%\t100.00%\nRental Expenses:\t\t\t\t\t\t\nOffice\t81890\t0\t97904\t41518\t31994\t253306\nResidential\t1350\t0\t0\t740\t2865\t4955\nHotel\t3164\t0\t0\t0\t0\t3164\nTotal\t86404\t0\t97904\t42258\t34859\t261425\n% of Grand Totals\t33.05%\t-%\t37.46%\t16.16%\t13.33%\t100.00%\nNet operating income\t142381\t0\t141631\t85930\t51724\t421666\n% of Grand Totals\t33.77%\t-%\t33.58%\t20.38%\t12.27%\t100.00%\nLess: Net operating income attributable to noncontrolling interests in property partnerships\t(10228)\t0\t(31932)\t0\t0\t(42160)\nAdd: Company's share of net operating income from unconsolidated joint ventures\t2764\t11953\t539\t4098\t5584\t24938\nCompany's share of net operating income\t134917\t11953\t110238\t90028\t57308\t404444\n% of Grand Totals\t33.35%\t2.96%\t27.26%\t22.26%\t14.17%\t100.00%\n", "q10k_tbl_40": "\tBoston\tLos Angeles\tNew York\tSan Francisco\tWashington DC\tTotal\nRental Revenue: (1)\t\t\t\t\t\t\nOffice\t224345\t0\t251806\t136290\t95370\t707811\nResidential\t3809\t0\t0\t0\t6187\t9996\nHotel\t13014\t0\t0\t0\t0\t13014\nTotal\t241168\t0\t251806\t136290\t101557\t730821\n% of Grand Totals\t33.00%\t-%\t34.45%\t18.65%\t13.90%\t100.00%\nRental Expenses:\t\t\t\t\t\t\nOffice\t81278\t0\t98698\t45900\t35716\t261592\nResidential\t1244\t0\t0\t0\t2767\t4011\nHotel\t8743\t0\t0\t0\t0\t8743\nTotal\t91265\t0\t98698\t45900\t38483\t274346\n% of Grand Totals\t33.27%\t-%\t35.97%\t16.73%\t14.03%\t100.00%\nNet operating income\t149903\t0\t153108\t90390\t63074\t456475\n% of Grand Totals\t32.84%\t-%\t33.54%\t19.80%\t13.82%\t100.00%\nLess: Net operating income attributable to noncontrolling interests in property partnerships\t(10379)\t0\t(35870)\t0\t0\t(46249)\nAdd: Company's share of net operating income from unconsolidated joint ventures\t1686\t14702\t(27)\t0\t6704\t23065\nCompany's share of net operating income\t141210\t14702\t117211\t90390\t69778\t433291\n% of Grand Totals\t32.60%\t3.39%\t27.05%\t20.86%\t16.10%\t100.00%\n", "q10k_tbl_41": "\tBoston\tLos Angeles\tNew York\tSan Francisco\tWashington DC\tTotal\nRental Revenue: (1)\t\t\t\t\t\t\nOffice\t683501\t0\t699063\t393137\t256904\t2032605\nResidential\t10512\t0\t0\t23\t18541\t29076\nHotel\t7014\t0\t0\t0\t0\t7014\nTotal\t701027\t0\t699063\t393160\t275445\t2068695\n% of Grand Totals\t33.89%\t-%\t33.79%\t19.01%\t13.31%\t100.00%\nRental Expenses:\t\t\t\t\t\t\nOffice\t240129\t0\t285411\t123168\t99322\t748030\nResidential\t3925\t0\t0\t740\t8319\t12984\nHotel\t11958\t0\t0\t0\t0\t11958\nTotal\t256012\t0\t285411\t123908\t107641\t772972\n% of Grand Totals\t33.12%\t-%\t36.92%\t16.03%\t13.93%\t100.00%\nNet operating income\t445015\t0\t413652\t269252\t167804\t1295723\n% of Grand Totals\t34.35%\t-%\t31.92%\t20.78%\t12.95%\t100.00%\nLess: Net operating income attributable to noncontrolling interests in property partnerships\t(31467)\t0\t(90781)\t0\t0\t(122248)\nAdd: Company's share of net operating income from unconsolidated joint ventures\t8490\t42909\t2110\t11384\t16714\t81607\nCompany's share of net operating income\t422038\t42909\t324981\t280636\t184518\t1255082\n% of Grand Totals\t33.63%\t3.42%\t25.89%\t22.36%\t14.70%\t100.00%\n", "q10k_tbl_42": "\tBoston\tLos Angeles\tNew York\tSan Francisco\tWashington DC\tTotal\nRental Revenue: (1)\t\t\t\t\t\t\nOffice\t659717\t0\t761993\t391851\t288201\t2101762\nResidential\t9732\t0\t0\t0\t16978\t26710\nHotel\t36796\t0\t0\t0\t0\t36796\nTotal\t706245\t0\t761993\t391851\t305179\t2165268\n% of Grand Totals\t32.62%\t-%\t35.19%\t18.10%\t14.09%\t100.00%\nRental Expenses:\t\t\t\t\t\t\nOffice\t238438\t0\t292478\t130733\t107535\t769184\nResidential\t3729\t0\t0\t0\t8178\t11907\nHotel\t25686\t0\t0\t0\t0\t25686\nTotal\t267853\t0\t292478\t130733\t115713\t806777\n% of Grand Totals\t33.20%\t-%\t36.26%\t16.20%\t14.34%\t100.00%\nNet operating income\t438392\t0\t469515\t261118\t189466\t1358491\n% of Grand Totals\t32.27%\t-%\t34.56%\t19.22%\t13.95%\t100.00%\nLess: Net operating income attributable to noncontrolling interests in property partnerships\t(29783)\t0\t(108665)\t(448)\t0\t(138896)\nAdd: Company's share of net operating income from unconsolidated joint ventures\t3276\t45864\t3455\t0\t20534\t73129\nCompany's share of net operating income\t411885\t45864\t364305\t260670\t210000\t1292724\n% of Grand Totals\t31.87%\t3.55%\t28.18%\t20.16%\t16.24%\t100.00%\n", "q10k_tbl_43": "\tThree months ended September 30 2020\tNine months ended September 30 2020\n\tTotal Square Feet\t\nVacant space available at the beginning of the period\t3570356\t3135170\nProperty dispositions/properties taken out of service (1)\t0\t(150193)\nProperties placed (and partially placed) in-service (2)\t12825\t377647\nLeases expiring or terminated during the period\t1597697\t4433742\nTotal space available for lease\t5180878\t7796366\n1st generation leases\t0\t342007\n2nd generation leases with new tenants\t613534\t1670329\n2nd generation lease renewals\t574937\t1791623\nTotal space leased (3)\t1188471\t3803959\nVacant space available for lease at the end of the period\t3992407\t3992407\nLeases executed during the period in square feet (4)\t810972\t2454913\nSecond generation leasing information: (5)\t\t\nLeases commencing during the period in square feet\t1188471\t3461952\nWeighted Average Lease Term\t89 Months\t107 Months\nWeighted Average Free Rent Period\t144 Days\t149 Days\nTotal Transaction Costs Per Square Foot (6)\t66.57\t81.32\nIncrease in Gross Rents (7)\t13.65%\t17.48%\nIncrease in Net Rents (8)\t20.14%\t26.70%\n", "q10k_tbl_44": "\tNine months ended September 30\t\t\t\n\t2020\t2019\tIncrease/ (Decrease)\t% Change\nNet Income Attributable to Boston Properties Inc. Common Shareholders\t854541\t370200\t484341\t130.83%\nPreferred dividends\t7875\t7875\t0\t-%\nNet Income Attributable to Boston Properties Inc.\t862416\t378075\t484341\t128.11%\nNet Income Attributable to Noncontrolling Interests:\t\t\t\t\nNoncontrolling interest-common units of the Operating Partnership\t97090\t43133\t53957\t125.09%\nNoncontrolling interests in property partnerships\t34280\t54782\t(20502)\t(37.42)%\nNet Income\t993786\t475990\t517796\t108.78%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nInterest expense\t319726\t309837\t9889\t3.19%\nLoss from early extinguishment of debt\t0\t28010\t(28010)\t(100.00)%\nImpairment loss\t0\t24038\t(24038)\t(100.00)%\nOther Income:\t\t\t\t\nLess:\t\t\t\t\nGains from investments in securities\t965\t4240\t(3275)\t(77.24)%\nInterest and other income (loss)\t4277\t14546\t(10269)\t(70.60)%\nGains on sales of real estate\t613723\t766\t612957\t80020.50%\nIncome (loss) from unconsolidated joint ventures\t(5410)\t47528\t(52938)\t(111.38)%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nDepreciation and amortization expense\t515738\t507867\t7871\t1.55%\nTransaction costs\t1254\t1415\t(161)\t(11.38)%\nPayroll and related costs from management services contracts\t8617\t8227\t390\t4.74%\nGeneral and administrative expense\t102059\t107980\t(5921)\t(5.48)%\nOther Revenue:\t\t\t\t\nLess:\t\t\t\t\nDirect reimbursements of payroll and related costs from management services contracts\t8617\t8227\t390\t4.74%\nDevelopment and management services revenue\t23285\t29566\t(6281)\t(21.24)%\nNet Operating Income\t1295723\t1358491\t(62768)\t(4.62)%\n", "q10k_tbl_45": "\tNine months ended September 30\t\t\t\n\t2020\t2019\tIncrease/ (Decrease)\t% Change\nNet Income Attributable to Boston Properties Limited Partnership Common Unitholders\t969932\t421214\t548718\t130.27%\nPreferred distributions\t7875\t7875\t0\t-%\nNet Income Attributable to Boston Properties Limited Partnership\t977807\t429089\t548718\t127.88%\nNet Income Attributable to Noncontrolling Interests:\t\t\t\t\nNoncontrolling interests in property partnerships\t34280\t54782\t(20502)\t(37.42)%\nNet Income\t1012087\t483871\t528216\t109.16%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nInterest expense\t319726\t309837\t9889\t3.19%\nLoss from early extinguishment of debt\t0\t28010\t(28010)\t(100.00)%\nImpairment loss\t0\t22272\t(22272)\t(100.00)%\nOther Income:\t\t\t\t\nLess:\t\t\t\t\nGains from investments in securities\t965\t4240\t(3275)\t(77.24)%\nInterest and other income (loss)\t4277\t14546\t(10269)\t(70.60)%\nGains on sales of real estate\t626686\t915\t625771\t68390.27%\nIncome (loss) from unconsolidated joint ventures\t(5410)\t47528\t(52938)\t(111.38)%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nDepreciation and amortization expense\t510400\t501901\t8499\t1.69%\nTransaction costs\t1254\t1415\t(161)\t(11.38)%\nPayroll and related costs from management services contracts\t8617\t8227\t390\t4.74%\nGeneral and administrative expense\t102059\t107980\t(5921)\t(5.48)%\nOther Revenue:\t\t\t\t\nLess:\t\t\t\t\nDirect reimbursements of payroll and related costs from management services contracts\t8617\t8227\t390\t4.74%\nDevelopment and management services revenue\t23285\t29566\t(6281)\t(21.24)%\nNet Operating Income\t1295723\t1358491\t(62768)\t(4.62)%\n", "q10k_tbl_46": "\tSame Property Portfolio\t\t\t\tProperties Acquired Portfolio\t\tProperties Placed In-Service Portfolio\t\tProperties in Development or Redevelopment Portfolio\t\tProperties Sold Portfolio\t\tTotal Property Portfolio\t\t\t\n\t2020\t2019\tIncrease/ (Decrease)\t% Change\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\tIncrease/ (Decrease)\t% Change\n\t(dollars in thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nRental Revenue: (1)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLease Revenue (Excluding Termination Income)\t1886518\t1934860\t(48342)\t(2.50)%\t10518\t1298\t46161\t1576\t2614\t7935\t24067\t65898\t1969878\t2011567\t(41689)\t(2.07)%\nTermination Income\t8363\t13226\t(4863)\t(36.77)%\t0\t0\t0\t0\t0\t0\t59\t580\t8422\t13806\t(5384)\t(39.00)%\nLease Revenue\t1894881\t1948086\t(53205)\t(2.73)%\t10518\t1298\t46161\t1576\t2614\t7935\t24126\t66478\t1978300\t2025373\t(47073)\t(2.32)%\nParking and Other\t51556\t73858\t(22302)\t(30.20)%\t4\t0\t1579\t0\t16\t119\t1150\t2412\t54305\t76389\t(22084)\t(28.91)%\nTotal Rental Revenue (1)\t1946437\t2021944\t(75507)\t(3.73)%\t10522\t1298\t47740\t1576\t2630\t8054\t25276\t68890\t2032605\t2101762\t(69157)\t(3.29)%\nReal Estate Operating Expenses\t721455\t736203\t(14748)\t(2.00)%\t4558\t649\t8733\t477\t3995\t6454\t9289\t25401\t748030\t769184\t(21154)\t(2.75)%\nNet Operating Income (Loss) Excluding Residential and Hotel\t1224982\t1285741\t(60759)\t(4.73)%\t5964\t649\t39007\t1099\t(1365)\t1600\t15987\t43489\t1284575\t1332578\t(48003)\t(3.60)%\nResidential Net Operating Income (Loss) (2)\t16809\t14803\t2006\t13.55%\t0\t0\t(717)\t0\t0\t0\t0\t0\t16092\t14803\t1289\t8.71%\nHotel Net Operating Income (Loss) (2)\t(4944)\t11110\t(16054)\t(144.50)%\t0\t0\t0\t0\t0\t0\t0\t0\t(4944)\t11110\t(16054)\t(144.50)%\nNet Operating Income (Loss)\t1236847\t1311654\t(74807)\t(5.70)%\t5964\t649\t38290\t1099\t(1365)\t1600\t15987\t43489\t1295723\t1358491\t(62768)\t(4.62)%\n", "q10k_tbl_47": "\t\tSquare Feet\t\tRental Revenue\t\t\t\t\t\tReal Estate Operating Expenses\t\t\t\t\nName\tDate acquired\t\t2020\t\t2019\t\tChange\t\t2020\t\t2019\t\tChange\n\t\t\t\t(dollars in thousands)\t\t\t\t\t\t\t\t\t\t\n880 and 890 Winter Street\tAugust 27 2019\t392576\t\t10222\t\t1298\t\t8924\t\t4122\t\t649\t\t3473\nFourth + Harrison (1)\tJune 26 2020\tN/A\t\t300\t\t0\t\t300\t\t436\t\t0\t\t436\n\t\t392576\t\t10522\t\t1298\t\t9224\t\t4558\t\t649\t\t3909\n", "q10k_tbl_48": "\tQuarter Initially Placed In-Service\tQuarter Fully Placed In-Service\t\tRental Revenue\t\t\tReal Estate Operating Expenses\t\t\nName\t\tSquare Feet\t2020\t2019\tChange\t2020\t2019\tChange\n\t\t\t\t(dollars in thousands)\t\t\t\t\t\nOffice\t\t\t\t\t\t\t\t\t\n20 CityPoint\tSecond Quarter 2019\tSecond Quarter 2020\t211476\t5485\t1576\t3909\t2053\t477\t1576\n145 Broadway\tFourth Quarter 2019\tFourth Quarter 2019\t490086\t33377\t0\t33377\t4104\t0\t4104\n17Fifty Presidents Street\tFirst Quarter 2020\tFirst Quarter 2020\t275809\t8878\t0\t8878\t2576\t0\t2576\nTotal Office\t\t\t977371\t47740\t1576\t46164\t8733\t477\t8256\nResidential\t\t\t\t\t\t\t\t\t\nThe Skylyne\tThird Quarter 2020\tThird Quarter 2020\t330996\t23\t0\t23\t740\t0\t740\nTotal Residential\t\t\t330996\t23\t0\t23\t740\t0\t740\n\t\t\t1308367\t47763\t1576\t46187\t9473\t477\t8996\n", "q10k_tbl_49": "\t\t\tRental Revenue\t\t\tReal Estate Operating Expenses\t\t\nName\tDate Commenced Development / Redevelopment\tSquare Feet\t2020\t2019\tChange\t2020\t2019\tChange\n\t\t\t(dollars in thousands)\t\t\t\t\t\nOne Five Nine East 53rd Street (1)\tAugust 19 2016\t220000\t(1232)\t2781\t(4013)\t1149\t1430\t(281)\n325 Main Street (2)\tMay 9 2019\t115000\t36\t(704)\t740\t281\t1338\t(1057)\n200 West Street (3)\tSeptember 30 2019\t261000\t3826\t5977\t(2151)\t2565\t3686\t(1121)\n\t\t596000\t2630\t8054\t(5424)\t3995\t6454\t(2459)\n", "q10k_tbl_50": "\t\t\t\tRental Revenue\t\t\tReal Estate Operating Expenses\t\t\nName\tDate Sold\tProperty Type\tSquare Feet\t2020\t2019\tChange\t2020\t2019\tChange\n\t\t\t\t(dollars in thousands)\t\t\t\t\t\n2600 Tower Oaks Boulevard\tJanuary 24 2019\tOffice\t179000\t0\t159\t(159)\t0\t189\t(189)\nOne Tower Center\tJune 3 2019\tOffice\t410000\t0\t2100\t(2100)\t0\t2080\t(2080)\n164 Lexington Road\tJune 28 2019\tOffice\t64000\t0\t0\t0\t0\t82\t(82)\nWashingtonian North\tDecember 20 2019\tLand\tN/A\t0\t0\t0\t0\t117\t(117)\n601 611 and 651 Gateway (1)\tJanuary 28 2020\tOffice\t768000\t1946\t21495\t(19549)\t881\t7682\t(6801)\nNew Dominion Technology Park\tFebruary 20 2020\tOffice\t493000\t2551\t14593\t(12042)\t772\t4328\t(3556)\nCapital Gallery (2)\tJune 25 2020\tOffice\t631000\t20779\t30543\t(9764)\t7636\t10923\t(3287)\n\t\t\t2545000\t25276\t68890\t(43614)\t9289\t25401\t(16112)\n", "q10k_tbl_51": "\tThe Lofts at Atlantic Wharf\t\t\tThe Avant at Reston Town Center\t\t\tSignature at Reston\t\t\tProto Kendall Square\t\t\n\t2020\t2019\tChange (%)\t2020\t2019\tChange (%)\t2020\t2019\tChange (%)\t2020\t2019\tChange (%)\nAverage Monthly Rental Rate (1)\t4424\t4471\t(1.1)%\t2381\t2401\t(0.8)%\t2327\t2339\t(0.5)%\t2865\t2847\t0.6%\nAverage Rental Rate Per Occupied Square Foot\t4.89\t4.92\t(0.6)%\t2.61\t2.62\t(0.4)%\t2.46\t2.53\t(2.8)%\t5.26\t5.31\t(0.9)%\nAverage Physical Occupancy (2)\t89.0%\t95.0%\t(6.3)%\t90.2%\t92.5%\t(2.5)%\t82.0%\t64.0%\t28.1%\t91.2%\t79.4%\t14.9%\nAverage Economic Occupancy (3)\t88.9%\t95.2%\t(6.6)%\t89.2%\t92.0%\t(3.0)%\t77.3%\t58.0%\t33.3%\t90.0%\t76.8%\t17.2%\n", "q10k_tbl_52": "\t2020\t2019\tChange (%)\nOccupancy\t19.8%\t86.7%\t(77.2)%\nAverage daily rate\t211.36\t280.18\t(24.6)%\nREVPAR\t41.85\t242.98\t(82.8)%\n", "q10k_tbl_53": "Portfolio\tDepreciation and Amortization for the nine months ended September 30\t\t\n2020\t2019\tChange\n\t(in thousands)\t\t\nSame Property Portfolio\t491747\t482196\t9551\nProperties Acquired Portfolio\t7108\t873\t6235\nProperties Placed In-Service Portfolio\t11897\t632\t11265\nProperties in Development or Redevelopment Portfolio (1)\t1374\t12070\t(10696)\nProperties Sold Portfolio\t3612\t12096\t(8484)\n\t515738\t507867\t7871\n", "q10k_tbl_54": "Portfolio\tDepreciation and Amortization for the nine months ended September 30\t\t\n2020\t2019\tChange\n\t(in thousands)\t\t\nSame Property Portfolio\t486409\t476609\t9800\nProperties Acquired Portfolio\t7108\t873\t6235\nProperties Placed In-Service Portfolio\t11897\t632\t11265\nProperties in Development or Redevelopment Portfolio (1)\t1374\t11691\t(10317)\nProperties Sold Portfolio\t3612\t12096\t(8484)\n\t510400\t501901\t8499\n", "q10k_tbl_55": "Name\tDate Sold\tProperty Type\tSquare Feet\tSale Price\tNet Cash Proceeds\tGain (Loss) on Sale of Real Estate\t\n\t\t\t\t(dollars in millions)\t\t\t\n2020\t\t\t\t\t\t\t\n601 611 and 651 Gateway\tJanuary 28 2020\tOffice\t768000\t350.0\t0\t217.7\t(1)\nNew Dominion Technology Park\tFebruary 20 2020\tOffice\t493000\t256.0\t254.0\t192.3\t\nCapital Gallery\tJune 25 2020\tOffice\t455000\t253.7\t246.6\t203.6\t(2)\n\t\t\t\t859.7\t500.6\t613.6\t(3)\n2019\t\t\t\t\t\t\t\n2600 Tower Oaks Boulevard\tJanuary 24 2019\tOffice\t179000\t22.7\t21.4\t(0.6)\t\nOne Tower Center\tJune 3 2019\tOffice\t410000\t38.0\t36.6\t(0.8)\t\n164 Lexington Road\tJune 28 2019\tOffice\t64000\t4.0\t3.8\t2.5\t\n\t\t\t\t64.7\t61.8\t1.1\t(4)\n", "q10k_tbl_56": "Name\tDate Sold\tProperty Type\tSquare Feet\tSale Price\tNet Cash Proceeds\tGain (Loss) on Sale of Real Estate\t\n\t\t\t\t(dollars in millions)\t\t\t\n2020\t\t\t\t\t\t\t\n601 611 and 651 Gateway\tJanuary 28 2020\tOffice\t768000\t350.0\t0\t222.4\t(1)\nNew Dominion Technology Park\tFebruary 20 2020\tOffice\t493000\t256.0\t254.0\t197.1\t\nCapital Gallery\tJune 25 2020\tOffice\t455000\t253.7\t246.6\t207.0\t(2)\n\t\t\t\t859.7\t500.6\t626.5\t(3)\n2019\t\t\t\t\t\t\t\n2600 Tower Oaks Boulevard\tJanuary 24 2019\tOffice\t179000\t22.7\t21.4\t(0.6)\t\nOne Tower Center\tJune 3 2019\tOffice\t410000\t38.0\t36.6\t(0.8)\t\n164 Lexington Road\tJune 28 2019\tOffice\t64000\t4.0\t3.8\t2.6\t\n\t\t\t\t64.7\t61.8\t1.2\t(4)\n", "q10k_tbl_57": "Component\tChange in interest expense for the nine months ended September 30 2020 compared to September 30 2019\n\t(in thousands)\nIncreases to interest expense due to:\t\nIssuance of $1.25 billion in aggregate principal of 3.250% senior notes due 2031 on May 5 2020\t16425\nIssuance of $850 million in aggregate principal of 3.400% senior notes due 2029 on June 21 2019\t13714\nIssuance of $700 million in aggregate principal of 2.900% senior notes due 2030 on September 3 2019\t13666\nDecrease in capitalized interest related to development projects\t2834\nIncrease in interest due to finance leases\t2758\nOther interest expense (excluding senior notes)\t527\nTotal increases to interest expense\t49924\nDecreases to interest expense due to:\t\nRedemption of $700 million in aggregate principal of 5.625% senior notes due 2020 on September 18 2019\t(28172)\nDecrease in interest rates for the 2017 Credit Facility\t(7361)\nIncrease in capitalized interest related to development projects that had finance leases\t(2834)\nRepayment of a bond financing collateralized by New Dominion Technology Building One\t(1668)\nTotal decreases to interest expense\t(40035)\nTotal change in interest expense\t9889\n", "q10k_tbl_58": "Property\tNoncontrolling Interests in Property Partnerships for the nine months ended September 30\t\t\n2020\t2019\tChange\n\t(in thousands)\t\t\nSalesforce Tower (1)\t0\t116\t(116)\n767 Fifth Avenue (the General Motors Building) (2)\t4205\t2811\t1394\nTimes Square Tower (3)\t198\t20680\t(20482)\n601 Lexington Avenue (4)\t12317\t14909\t(2592)\n100 Federal Street (5)\t10874\t9187\t1687\nAtlantic Wharf Office Building (6)\t6686\t7079\t(393)\n\t34280\t54782\t(20502)\n", "q10k_tbl_59": "\tThree months ended September 30\t\t\t\n\t2020\t2019\tIncrease/ (Decrease)\t% Change\n\t(in thousands)\t\t\t\nNet Income Attributable to Boston Properties Inc. Common Shareholders\t89854\t107771\t(17917)\t(16.63)%\nPreferred dividends\t2625\t2625\t0\t-%\nNet Income Attributable to Boston Properties Inc.\t92479\t110396\t(17917)\t(16.23)%\nNet Income Attributable to Noncontrolling Interests:\t\t\t\t\nNoncontrolling interest-common units of the Operating Partnership\t10020\t12504\t(2484)\t(19.87)%\nNoncontrolling interests in property partnerships\t15561\t18470\t(2909)\t(15.75)%\nNet Income\t118060\t141370\t(23310)\t(16.49)%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nInterest expense\t110993\t106471\t4522\t4.25%\nLoss from early extinguishment of debt\t0\t28010\t(28010)\t(100.00)%\nLosses on sales of real estate\t209\t15\t194\t1293.33%\nLoss from unconsolidated joint ventures\t6873\t649\t6224\t959.01%\nOther Income:\t\t\t\t\nLess:\t\t\t\t\nGains from investments in securities\t1858\t106\t1752\t1652.83%\nInterest and other income (loss)\t(45)\t7178\t(7223)\t(100.63)%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nDepreciation and amortization expense\t166456\t165862\t594\t0.36%\nTransaction costs\t307\t538\t(231)\t(42.94)%\nPayroll and related costs from management services contracts\t2896\t2429\t467\t19.23%\nGeneral and administrative expense\t27862\t31147\t(3285)\t(10.55)%\nOther Revenue:\t\t\t\t\nLess:\t\t\t\t\nDirect reimbursements of payroll and related costs from management services contracts\t2896\t2429\t467\t19.23%\nDevelopment and management services revenue\t7281\t10303\t(3022)\t(29.33)%\nNet Operating Income\t421666\t456475\t(34809)\t(7.63)%\n", "q10k_tbl_60": "\tThree months ended September 30\t\t\t\n\t2020\t2019\tIncrease/ (Decrease)\t% Change\n\t(in thousands)\t\t\t\nNet Income Attributable to Boston Properties Limited Partnership Common Unitholders\t101624\t122117\t(20493)\t(16.78)%\nPreferred distributions\t2625\t2625\t0\t-%\nNet Income Attributable to Boston Properties Limited Partnership\t104249\t124742\t(20493)\t(16.43)%\nNet Income Attributable to Noncontrolling Interests:\t\t\t\t\nNoncontrolling interests in property partnerships\t15561\t18470\t(2909)\t(15.75)%\nNet Income\t119810\t143212\t(23402)\t(16.34)%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nInterest expense\t110993\t106471\t4522\t4.25%\nLoss from early extinguishment of debt\t0\t28010\t(28010)\t(100.00)%\nLosses on sales of real estate\t209\t15\t194\t1293.33%\nLoss from unconsolidated joint ventures\t6873\t649\t6224\t959.01%\nOther Income:\t\t\t\t\nLess:\t\t\t\t\nGains from investments in securities\t1858\t106\t1752\t1652.83%\nInterest and other income (loss)\t(45)\t7178\t(7223)\t(100.63)%\nOther Expenses:\t\t\t\t\nAdd:\t\t\t\t\nDepreciation and amortization expense\t164706\t164020\t686\t0.42%\nTransaction costs\t307\t538\t(231)\t(42.94)%\nPayroll and related costs from management services contracts\t2896\t2429\t467\t19.23%\nGeneral and administrative expense\t27862\t31147\t(3285)\t(10.55)%\nOther Revenue:\t\t\t\t\nLess:\t\t\t\t\nDirect reimbursements of payroll and related costs from management services contracts\t2896\t2429\t467\t19.23%\nDevelopment and management services revenue\t7281\t10303\t(3022)\t(29.33)%\nNet Operating Income\t421666\t456475\t(34809)\t(7.63)%\n", "q10k_tbl_61": "\tSame Property Portfolio\t\t\t\tProperties Acquired Portfolio\t\tProperties Placed In-Service Portfolio\t\tProperties in Development or Redevelopment Portfolio\t\tProperties Sold Portfolio\t\tTotal Property Portfolio\t\t\t\n\t2020\t2019\tIncrease/ (Decrease)\t% Change\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\tIncrease/ (Decrease)\t% Change\n\t(dollars in thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nRental Revenue: (1)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLease Revenue (Excluding Termination Income)\t629175\t654129\t(24954)\t(3.81)%\t3625\t1298\t17835\t1576\t1390\t2577\t2369\t20837\t654394\t680417\t(26023)\t(3.82)%\nTermination Income\t2715\t1698\t1017\t59.89%\t0\t0\t0\t0\t0\t0\t0\t262\t2715\t1960\t755\t38.52%\nLease Revenue\t631890\t655827\t(23937)\t(3.65)%\t3625\t1298\t17835\t1576\t1390\t2577\t2369\t21099\t657109\t682377\t(25268)\t(3.70)%\nParking and Other\t15428\t24529\t(9101)\t(37.10)%\t3\t0\t521\t0\t4\t7\t218\t898\t16174\t25434\t(9260)\t(36.41)%\nTotal Rental Revenue (1)\t647318\t680356\t(33038)\t(4.86)%\t3628\t1298\t18356\t1576\t1394\t2584\t2587\t21997\t673283\t707811\t(34528)\t(4.88)%\nReal Estate Operating Expenses\t245346\t250554\t(5208)\t(2.08)%\t1706\t649\t3802\t477\t1298\t1926\t1154\t7986\t253306\t261592\t(8286)\t(3.17)%\nNet Operating Income Excluding Residential and Hotel\t401972\t429802\t(27830)\t(6.48)%\t1922\t649\t14554\t1099\t96\t658\t1433\t14011\t419977\t446219\t(26242)\t(5.88)%\nResidential Net Operating Income (Loss) (2)\t5480\t5985\t(505)\t(8.44)%\t0\t0\t(717)\t0\t0\t0\t0\t0\t4763\t5985\t(1222)\t(20.42)%\nHotel Net Operating Income (Loss) (2)\t(3074)\t4271\t(7345)\t(171.97)%\t0\t0\t0\t0\t0\t0\t0\t0\t(3074)\t4271\t(7345)\t(171.97)%\nNet Operating Income\t404378\t440058\t(35680)\t(8.11)%\t1922\t649\t13837\t1099\t96\t658\t1433\t14011\t421666\t456475\t(34809)\t(7.63)%\n", "q10k_tbl_62": "\t\tSquare Feet\t\tRental Revenue\t\t\t\t\t\tReal Estate Operating Expenses\t\t\t\t\nName\tDate acquired\t\t2020\t\t2019\t\tChange\t\t2020\t\t2019\t\tChange\n\t\t\t\t(dollars in thousands)\t\t\t\t\t\t\t\t\t\t\n880 and 890 Winter Street\tAugust 27 2019\t392576\t\t3344\t\t1298\t\t2046\t\t1271\t\t649\t\t622\nFourth + Harrison (1)\tJune 26 2020\tN/A\t\t284\t\t0\t\t284\t\t435\t\t0\t\t435\n\t\t392576\t\t3628\t\t1298\t\t2330\t\t1706\t\t649\t\t1057\n", "q10k_tbl_63": "\tQuarter Initially Placed In-Service\tQuarter Fully Placed In-Service\t\tRental Revenue\t\t\tReal Estate Operating Expenses\t\t\nName\t\tSquare Feet\t2020\t2019\tChange\t2020\t2019\tChange\n\t\t\t\t(dollars in thousands)\t\t\t\t\t\nOffice\t\t\t\t\t\t\t\t\t\n20 CityPoint\tSecond Quarter 2019\tSecond Quarter 2020\t211476\t1861\t1576\t285\t731\t477\t254\n145 Broadway\tFourth Quarter 2019\tFourth Quarter 2019\t490086\t11560\t0\t11560\t1771\t0\t1771\n17Fifty Presidents Street\tFirst Quarter 2020\tFirst Quarter 2020\t275809\t4935\t0\t4935\t1300\t0\t1300\nTotal Office\t\t\t977371\t18356\t1576\t16780\t3802\t477\t3325\nResidential\t\t\t\t\t\t\t\t\t\nThe Skylyne\tThird Quarter 2020\tThird Quarter 2020\t330996\t23\t0\t23\t740\t0\t740\nTotal Residential\t\t\t330996\t23\t0\t23\t740\t0\t740\n\t\t\t1308367\t18379\t1576\t16803\t4542\t477\t4065\n", "q10k_tbl_64": "\t\t\tRental Revenue\t\t\tReal Estate Operating Expenses\t\t\nName\tDate Commenced Development / Redevelopment\tSquare Feet\t2020\t2019\tChange\t2020\t2019\tChange\n\t\t\t(dollars in thousands)\t\t\t\t\t\nOne Five Nine East 53rd Street\tAugust 19 2016\t220000\t161\t919\t(758)\t307\t476\t(169)\n325 Main Street (1)\tMay 9 2019\t115000\t0\t49\t(49)\t207\t298\t(91)\n200 West Street (2)\tSeptember 30 2019\t261000\t1233\t1616\t(383)\t784\t1152\t(368)\n\t\t596000\t1394\t2584\t(1190)\t1298\t1926\t(628)\n", "q10k_tbl_65": "\t\t\t\tRental Revenue\t\t\tReal Estate Operating Expenses\t\t\nName\tDate Sold\tProperty Type\tSquare Feet\t2020\t2019\tChange\t2020\t2019\tChange\n\t\t\t\t(dollars in thousands)\t\t\t\t\t\nWashingtonian North\tDecember 20 2019\tLand\tN/A\t0\t0\t0\t0\t41\t(41)\n601 611 and 651 Gateway (1)\tJanuary 28 2020\tOffice\t768000\t0\t6949\t(6949)\t0\t2711\t(2711)\nNew Dominion Technology Park\tFebruary 20 2020\tOffice\t493000\t0\t4813\t(4813)\t0\t1418\t(1418)\nCapital Gallery (2)\tJune 25 2020\tOffice\t631000\t2587\t10235\t(7648)\t1154\t3816\t(2662)\n\t\t\t1892000\t2587\t21997\t(19410)\t1154\t7986\t(6832)\n", "q10k_tbl_66": "\tThe Lofts at Atlantic Wharf\t\t\tThe Avant at Reston Town Center\t\t\tSignature at Reston\t\t\tProto Kendall Square\t\t\n\t2020\t2019\tChange (%)\t2020\t2019\tChange (%)\t2020\t2019\tChange (%)\t2020\t2019\tChange (%)\nAverage Monthly Rental Rate (1)\t4231\t4498\t(5.9)%\t2352\t2447\t(3.9)%\t2319\t2379\t(2.5)%\t2676\t2972\t(10.0)%\nAverage Rental Rate Per Occupied Square Foot\t4.62\t4.99\t(7.4)%\t2.57\t2.66\t(3.4)%\t2.42\t2.56\t(5.5)%\t4.91\t5.49\t(10.6)%\nAverage Physical Occupancy (2)\t80.2%\t95.4%\t(15.9)%\t89.7%\t92.9%\t(3.4)%\t82.2%\t74.5%\t10.3%\t85.7%\t96.0%\t(10.7)%\nAverage Economic Occupancy (3)\t80.7%\t95.2%\t(15.2)%\t88.9%\t93.0%\t(4.4)%\t78.2%\t68.9%\t13.5%\t83.1%\t96.1%\t(13.5)%\n", "q10k_tbl_67": "\t2020\t2019\tChange (%)\nOccupancy\t-%\t90.7%\t(100.0)%\nAverage daily rate\t0\t293.45\t(100.0)%\nREVPAR\t0\t266.31\t(100.0)%\n", "q10k_tbl_68": "Portfolio\tDepreciation and Amortization for the three months ended September 30\t\t\n2020\t2019\tChange\n\t(in thousands)\t\t\nSame Property Portfolio\t158609\t160245\t(1636)\nProperties Acquired Portfolio\t2215\t873\t1342\nProperties Placed In-Service Portfolio\t4854\t513\t4341\nProperties in Development or Redevelopment Portfolio\t451\t589\t(138)\nProperties Sold Portfolio\t327\t3642\t(3315)\n\t166456\t165862\t594\n", "q10k_tbl_69": "Portfolio\tDepreciation and Amortization for the three months ended September 30\t\t\n2020\t2019\tChange\n\t(in thousands)\t\t\nSame Property Portfolio\t156859\t158403\t(1544)\nProperties Acquired Portfolio\t2215\t873\t1342\nProperties Placed In-Service Portfolio\t4854\t513\t4341\nProperties in Development or Redevelopment Portfolio\t451\t589\t(138)\nProperties Sold Portfolio\t327\t3642\t(3315)\n\t164706\t164020\t686\n", "q10k_tbl_70": "Component\tChange in interest expense for the three months ended September 30 2020 compared to September 30 2019\n\t(in thousands)\nIncreases to interest expense due to:\t\nIssuance of $1.25 billion in aggregate principal of 3.250% senior notes due 2031 on May 5 2020\t10193\nIssuance of $700 million in aggregate principal of 2.900% senior notes due 2030 on September 3 2019\t3502\nIncrease in interest due to finance leases\t2165\nDecrease in capitalized interest related to development projects\t556\nOther interest expense (excluding senior notes)\t196\nTotal increases to interest expense\t16612\nDecreases to interest expense due to:\t\nRedemption of $700 million in aggregate principal of 5.625% senior notes due 2020 on September 18 2019\t(8441)\nDecrease in interest rates for the 2017 Credit Facility\t(2555)\nIncrease in capitalized interest related to development projects that had finance leases\t(556)\nRepayment of bond financing collateralized by New Dominion Technology Building One\t(538)\nTotal decreases to interest expense\t(12090)\nTotal change in interest expense\t4522\n", "q10k_tbl_71": "Property\tNoncontrolling Interests in Property Partnerships for the three months ended September 30\t\t\n2020\t2019\tChange\n\t(in thousands)\t\t\n767 Fifth Avenue (the General Motors Building) (1)\t2104\t440\t1664\nTimes Square Tower (2)\t3545\t6760\t(3215)\n601 Lexington Avenue (2)\t4352\t5374\t(1022)\n100 Federal Street\t3565\t3503\t62\nAtlantic Wharf Office Building (3)\t1995\t2393\t(398)\n\t15561\t18470\t(2909)\n", "q10k_tbl_72": "\t\t\t\t\t\t\tFinancings\t\t\t\t\nConstruction Properties\tEstimated Stabilization Date\tLocation\t# of Buildings\tEstimated Square Feet\tInvestment to Date (1)(2)(3)\tEstimated Total Investment (1)(2)\tTotal Available (1)\tOutstanding at 9/30/2020 (1)\tEstimated Future Equity Requirement (1)(2)(4)\tPercentage Leased (5)\t\nOffice\t\t\t\t\t\t\t\t\t\t\t\nDock 72 (50% ownership)\tSecond Quarter 2022\tBrooklyn NY\t1\t670000\t209795\t243150\t125000\t98206\t6561\t33%\t(6)\n325 Main Street\tThird Quarter 2022\tCambridge MA\t1\t420000\t148585\t418400\t0\t\t269815\t90%\t\n100 Causeway Street (50% ownership)\tThird Quarter 2022\tBoston MA\t1\t632000\t167620\t267300\t200000\t90274\t0\t95%\t\n7750 Wisconsin Avenue (Marriott International Headquarters) (50% ownership)\tThird Quarter 2022\tBethesda MD\t1\t734000\t134843\t198900\t127500\t66361\t2918\t100%\t\nReston Next (formerly Reston Gateway)\tFourth Quarter 2023\tReston VA\t2\t1062000\t323537\t715300\t0\t0\t391763\t85%\t\n2100 Pennsylvania Avenue\tThird Quarter 2024\tWashington DC\t1\t480000\t109153\t356100\t0\t0\t246947\t62%\t\nTotal Office Properties under Construction\t\t\t7\t3998000\t1093533\t2199150\t452500\t254841\t918004\t78%\t\nRedevelopment Properties\t\t\t\t\t\t\t\t\t\t\t\nOne Five Nine East 53rd Street (55% ownership)\tFirst Quarter 2021\tNew York NY\t0\t220000\t137155\t150000\t0\t0\t12845\t96%\t(7)\n200 West Street\tFourth Quarter 2021\tWaltham MA\t0\t126000\t13663\t47800\t0\t0\t34137\t100%\t(8)\nTotal Redevelopment Properties under Construction\t\t\t0\t346000\t150818\t197800\t0\t0\t46982\t97%\t\nTotal Properties under Construction and Redevelopment\t\t\t7\t4344000\t1244351\t2396950\t452500\t254841\t964986\t80%\t\n", "q10k_tbl_73": "\tNine months ended September 30\t\t\t\t\n2020\t\t2019\t\tIncrease (Decrease)\n(in thousands)\t\t\t\t\nNet cash provided by operating activities\t782423\t\t819792\t\t(37369)\nNet cash used in investing activities\t(388411)\t\t(736466)\t\t348055\nNet cash provided by financing activities\t678891\t\t82248\t\t596643\n", "q10k_tbl_74": "\tNine months ended September 30\t\n\t2020\t2019\n\t(in thousands)\t\nAcquisitions of real estate (1)\t(135698)\t(148912)\nConstruction in progress (2)\t(358824)\t(390275)\nBuilding and other capital improvements\t(116894)\t(129340)\nTenant improvements\t(172401)\t(191532)\nRight of use assets - finance leases\t0\t(5152)\nProceeds from sales of real estate (3)\t505679\t83486\nCapital contributions to unconsolidated joint ventures (4)\t(158374)\t(65499)\nCapital distributions from unconsolidated joint ventures (5)\t55123\t136807\nCash and cash equivalents deconsolidated\t0\t(24112)\nIssuance of notes receivable net (6)\t(9800)\t0\nInvestments in securities net\t2778\t(1937)\nNet cash used in investing activities\t(388411)\t(736466)\n", "q10k_tbl_75": "\tSeptember 30 2020\t\t\t\n\tShares / Units Outstanding\tCommon Stock Equivalent\tEquivalent Value (1)\t\nCommon Stock\t155636\t155636\t12497571\t\nCommon Operating Partnership Units\t17458\t17458\t1401877\t(2)\n5.25% Series B Cumulative Redeemable Preferred Stock\t80\t0\t200000\t\nTotal Equity\t\t173094\t14099448\t\nConsolidated Debt\t\t\t13048161\t\nAdd:\t\t\t\t\nBXP's share of unconsolidated joint venture debt (3)\t\t\t1114031\t\nSubtract:\t\t\t\t\nPartners' share of Consolidated Debt (4)\t\t\t(1195957)\t\nBXP's Share of Debt\t\t\t12966235\t\nConsolidated Market Capitalization\t\t\t27147609\t\nBXP's Share of Market Capitalization\t\t\t27065683\t\nConsolidated Debt/Consolidated Market Capitalization\t\t\t48.06%\t\nBXP's Share of Debt/BXP's Share of Market Capitalization\t\t\t47.91%\t\n", "q10k_tbl_76": "\tSeptember 30\t\n\t2020\t2019\n\t(dollars in thousands)\t\nDebt Summary:\t\t\nBalance\t\t\nFixed rate mortgage notes payable net\t2912494\t2952006\nUnsecured senior notes net\t9636397\t8387913\nUnsecured line of credit\t0\t0\nUnsecured term loan net\t499270\t498819\nConsolidated Debt\t13048161\t11838738\nAdd:\t\t\nBXP's share of unconsolidated joint venture debt net (1)\t1114031\t924366\nSubtract:\t\t\nPartners' share of consolidated mortgage notes payable net (2)\t(1195957)\t(1201113)\nBXP's Share of Debt\t12966235\t11561991\n\tSeptember 30\t\n\t2020\t2019\nConsolidated Debt Financing Statistics:\t\t\nPercent of total debt:\t\t\nFixed rate\t96.17%\t95.79%\nVariable rate\t3.83%\t4.21%\nTotal\t100.00%\t100.00%\nGAAP Weighted-average interest rate at end of period:\t\t\nFixed rate\t3.75%\t3.81%\nVariable rate\t1.18%\t3.12%\nTotal\t3.65%\t3.78%\nCoupon/Stated Weighted-average interest rate at end of period:\t\t\nFixed rate\t3.65%\t3.70%\nVariable rate\t1.09%\t3.03%\nTotal\t3.55%\t3.67%\nWeighted-average maturity at end of period (in years):\t\t\nFixed rate\t5.8\t6.3\nVariable rate\t1.6\t2.6\nTotal\t5.6\t6.1\n", "q10k_tbl_77": "Properties\tStated Interest Rate\tGAAP Interest Rate (1)\tStated Principal Amount\tDeferred Financing Costs Net\tCarrying Amount\tCarrying Amount (Partners' Share)\t\tMaturity Date\n\t(dollars in thousands)\t\t\t\t\t\t\t\nWholly-owned\t\t\t\t\t\t\t\t\nUniversity Place\t6.94%\t6.99%\t2045\t(11)\t2034\tN/A\t\tAugust 1 2021\nConsolidated Joint Ventures\t\t\t\t\t\t\t\t\n767 Fifth Avenue (the General Motors Building)\t3.43%\t3.64%\t2300000\t(23352)\t2276648\t910742\t(2)(3)(4)\tJune 9 2027\n601 Lexington Avenue\t4.75%\t4.79%\t634314\t(502)\t633812\t285215\t(5)\tApril 10 2022\n\t\t\t2934314\t(23854)\t2910460\t1195957\t\t\nTotal\t\t\t2936359\t(23865)\t2912494\t1195957\t\t\n", "q10k_tbl_78": "Properties\tNominal % Ownership\tStated Interest Rate\tGAAP Interest Rate (1)\tStated Principal Amount\tDeferred Financing Costs Net\tCarrying Amount\tCarrying Amount (Our share)\t\tMaturity Date\n\t(dollars in thousands)\t\t\t\t\t\t\t\nSanta Monica Business Park\t55%\t4.06%\t4.24%\t300000\t(2525)\t297475\t163611\t(2)(3)\tJuly 19 2025\nMarket Square North\t50%\t4.85%\t4.85%\t114201\t(65)\t114136\t57068\t(4)\tNovember 1 2020\nAnnapolis Junction Building Six\t50%\t2.15%\t2.30%\t12131\t(4)\t12127\t6064\t(5)\tNovember 17 2020\nAnnapolis Junction Building Seven\t50%\t2.58%\t2.92%\t18420\t(31)\t18389\t9195\t(6)\tMarch 25 2021\n1265 Main Street\t50%\t3.77%\t3.84%\t37544\t(313)\t37231\t18615\t\tJanuary 1 2032\nColorado Center\t50%\t3.56%\t3.58%\t550000\t(705)\t549295\t274648\t(2)\tAugust 9 2027\nDock 72\t50%\t2.41%\t3.55%\t196412\t(843)\t195569\t97784\t(2)(7)\tDecember 18 2020\nThe Hub on Causeway - Podium\t50%\t2.41%\t2.90%\t174329\t(945)\t173384\t86692\t(2)(8)\tSeptember 6 2021\nHub50House\t50%\t2.17%\t2.45%\t169034\t(807)\t168227\t84113\t(2)(9)\tApril 19 2022\n100 Causeway Street\t50%\t1.66%\t1.87%\t180547\t(2471)\t178076\t89038\t(2)(10)\tSeptember 5 2023\n7750 Wisconsin Avenue (Marriott International Headquarters)\t50%\t1.41%\t1.95%\t132722\t(3597)\t129125\t64563\t(2)(11)\tApril 26 2023\n500 North Capitol Street NW\t30%\t4.15%\t4.20%\t105000\t(158)\t104842\t31453\t(2)\tJune 6 2023\n901 New York Avenue\t25%\t3.61%\t3.69%\t222192\t(759)\t221433\t55358\t\tJanuary 5 2025\n3 Hudson Boulevard\t25%\t3.66%\t3.74%\t80000\t(176)\t79824\t19956\t(2)(12)\tJuly 13 2023\nMetropolitan Square\t20%\t5.40%\t6.90%\t288000\t(8634)\t279366\t55873\t(2)(13)\tJuly 7 2022\nTotal\t\t\t\t2580532\t(22033)\t2558499\t1114031\t\t\n", "q10k_tbl_79": "\tThree months ended September 30\t\n\t2020\t2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t(in thousands)\t\nNet income attributable to Boston Properties Inc. common shareholders\t89854\t107771\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAdd:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nPreferred dividends\t2625\t2625\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interest-common units of the Operating Partnership\t10020\t12504\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interests in property partnerships\t15561\t18470\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet income\t118060\t141370\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAdd:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDepreciation and amortization\t166456\t165862\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interests in property partnerships' share of depreciation and amortization\t(15833)\t(17402)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBXP's share of depreciation and amortization from unconsolidated joint ventures\t20413\t13745\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate-related depreciation and amortization\t(444)\t(411)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLess:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGain on sale of real estate included within income (loss) from unconsolidated joint ventures\t0\t(487)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLosses on sales of real estate\t(209)\t(15)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interests in property partnerships\t15561\t18470\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nPreferred dividends\t2625\t2625\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFunds from Operations (FFO) attributable to the Operating Partnership common unitholders (including Boston Properties Inc.)\t270675\t282571\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLess:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interest-common units of the Operating Partnership's share of funds from operations\t26697\t28940\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFunds from Operations attributable to Boston Properties Inc. common shareholders\t243978\t253631\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOur percentage share of Funds from Operations-basic\t90.14%\t89.76%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nWeighted average shares outstanding-basic\t155645\t154577\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_80": "\tThree months ended September 30\t\t\t\n\t2020\t\t2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\tIncome (Numerator)\tShares/Units (Denominator)\tIncome (Numerator)\tShares/Units (Denominator)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t(in thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBasic Funds from Operations\t270675\t172677\t282571\t172215\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nEffect of Dilutive Securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nStock based compensation\t0\t25\t0\t243\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDiluted Funds from Operations\t270675\t172702\t282571\t172458\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLess:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interest-common units of the Operating Partnership's share of diluted Funds from Operations\t26693\t17032\t28900\t17638\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDiluted Funds from Operations attributable to Boston Properties Inc. (1)\t243982\t155670\t253671\t154820\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_81": "\tThree months ended September 30\t\n\t2020\t2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t(in thousands)\t\nNet income attributable to Boston Properties Limited Partnership common unitholders\t101624\t122117\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAdd:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nPreferred distributions\t2625\t2625\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interests in property partnerships\t15561\t18470\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet income\t119810\t143212\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAdd:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDepreciation and amortization\t164706\t164020\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interests in property partnerships' share of depreciation and amortization\t(15833)\t(17402)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBPLP's share of depreciation and amortization from unconsolidated joint ventures\t20413\t13745\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCorporate-related depreciation and amortization\t(444)\t(411)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLess:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nGain on sale of real estate included within income (loss) from unconsolidated joint ventures\t0\t(487)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nLosses on sales of real estate\t(209)\t(15)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNoncontrolling interests in property partnerships\t15561\t18470\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nPreferred distributions\t2625\t2625\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nFunds from operations attributable to Boston Properties Limited Partnership common unitholders (1)\t270675\t282571\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nWeighted average units outstanding-basic\t172677\t172215\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_82": "\tThree months ended September 30\t\t\t\n\t2020\t\t2019\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\tIncome (Numerator)\tShares/Units (Denominator)\tIncome (Numerator)\tShares/Units (Denominator)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t(in thousands)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nBasic Funds from Operations\t270675\t172677\t282571\t172215\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nEffect of Dilutive Securities:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nStock based compensation\t0\t25\t0\t243\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nDiluted Funds from Operations\t270675\t172702\t282571\t172458\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_83": "\t2020\t2021\t2022\t2023\t2024\t2025+\tTotal\tEstimated Fair Value\n\t(dollars in thousands) Mortgage debt net\t\t\t\t\t\t\t\nFixed Rate\t3413\t13440\t611132\t(3494)\t(3494)\t2291497\t2912494\t3183294\nGAAP Average Interest Rate\t5.07%\t4.98%\t4.79%\t-%\t-%\t3.64%\t3.89%\t\nVariable Rate\t0\t0\t0\t0\t0\t0\t0\t0\n\tUnsecured debt net\t\t\t\t\t\t\t\nFixed Rate\t(2887)\t839355\t(10189)\t1490888\t692161\t6627069\t9636397\t10491966\nGAAP Average Interest Rate\t-%\t4.29%\t-%\t3.73%\t3.92%\t3.61%\t3.71%\t\nVariable Rate\t(119)\t(461)\t499850\t0\t0\t0\t499270\t500388\nTotal Debt\t407\t852334\t1100793\t1487394\t688667\t8918566\t13048161\t14175648\n", "q10k_tbl_84": "Period\t(a) Total Number of Units Purchased\t\t(b) Average Price Paid per Unit\t(c) Total Number of Units Purchased as Part of Publicly Announced Plans or Programs\t(d) Maximum Number (or Approximate Dollar Value) of Units that May Yet be Purchased\nJuly 1 2020 - July 31 2020\t0\t\t0\tN/A\tN/A\nAugust 1 2020 - August 31 2020\t0\t\t0\tN/A\tN/A\nSeptember 1 2020 - September 30 2020\t2352\t(1)\t0.25\tN/A\tN/A\nTotal\t2352\t\t0.25\tN/A\tN/A\n", "q10k_tbl_85": "31.1\t0\tCertification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Boston Properties Inc. (Filed herewith.)\n31.2\t0\tCertification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Boston Properties Inc. (Filed herewith.)\n31.3\t0\tCertification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Boston Properties Limited Partnership. (Filed herewith.)\n31.4\t0\tCertification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Boston Properties Limited Partnership. (Filed herewith.)\n32.1\t0\tCertification of Chief Executive Officer pursuant to Section 906 of the Sarbanes Oxley Act of 2002 for Boston Properties Inc. (Furnished herewith.)\n32.2\t0\tCertification of Chief Financial Officer pursuant to Section 906 of the Sarbanes Oxley Act of 2002 for Boston Properties Inc. (Furnished herewith.)\n32.3\t0\tCertification of Chief Executive Officer pursuant to Section 906 of the Sarbanes Oxley Act of 2002 for Boston Properties Limited Partnership. (Furnished herewith.)\n32.4\t0\tCertification of Chief Financial Officer pursuant to Section 906 of the Sarbanes Oxley Act of 2002 for Boston Properties Limited Partnership. (Furnished herewith.)\n101.SCH\t0\tInline XBRL Taxonomy Extension Schema Document. (Filed herewith.)\n101.CAL\t0\tInline XBRL Taxonomy Extension Calculation Linkbase Document. (Filed herewith.)\n101.LAB\t0\tInline XBRL Taxonomy Extension Label Linkbase Document. (Filed herewith.)\n101.PRE\t0\tInline XBRL Taxonomy Extension Presentation Linkbase Document. (Filed herewith.)\n101.DEF\t0\tInline XBRL Taxonomy Extension Definition Linkbase Document. (Filed herewith.)\n104\t0\tCover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101.*). (Filed herewith.)\n"}{"bs": "q10k_tbl_1", "is": "q10k_tbl_37", "cf": "q10k_tbl_7"}None
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Boston Properties, Inc.: Yesx No ☐ Boston Properties Limited Partnership: Yesx No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Boston Properties, Inc.: Yesx No ☐ Boston Properties Limited Partnership: Yesx No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Boston Properties, Inc.:
Large accelerated filerx Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company☐
Boston Properties Limited Partnership:
Large accelerated filer ☐ Accelerated filer ☐Non-accelerated filerx Smaller reporting company ☐ Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Boston Properties, Inc. ☐ Boston Properties Limited Partnership ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Boston Properties, Inc.: Yes ☐ No x Boston Properties Limited Partnership: Yes ☐ No x
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
This report combines the quarterly reports on Form 10-Q for the period ended September 30, 2020 of Boston Properties, Inc. and Boston Properties Limited Partnership. Unless stated otherwise or the context otherwise requires, references to “BXP” mean Boston Properties, Inc., a Delaware corporation and real estate investment trust (“REIT”), and references to “BPLP” and the “Operating Partnership” mean Boston Properties Limited Partnership, a Delaware limited partnership. BPLP is the entity through which BXP conducts substantially all of its business and owns, either directly or through subsidiaries, substantially all of its assets. BXP is the sole general partner and also a limited partner of BPLP. As the sole general partner of BPLP, BXP has exclusive control of BPLP’s day-to-day management. Therefore, unless stated otherwise or the context requires, references to the “Company,” “we,” “us” and “our” mean collectively BXP, BPLP and those entities/subsidiaries consolidated by BXP.
As of September 30, 2020, BXP owned an approximate 89.9% ownership interest in BPLP. The remaining approximate 10.1% interest was owned by limited partners. The other limited partners of BPLP are (1) persons who contributed their direct or indirect interests in properties to BPLP in exchange for common units or preferred units of limited partnership interest in BPLP and/or (2) recipients of long-term incentive plan units of BPLP pursuant to BXP’s Stock Option and Incentive Plans. Under the limited partnership agreement of BPLP, unitholders may present their common units of BPLP for redemption at any time (subject to restrictions agreed upon at the time of issuance of the units that may restrict such right for a period of time, generally one year from issuance). Upon presentation of a common unit for redemption, BPLP must redeem the unit for cash equal to the then value of a share of BXP’s common stock. In lieu of a cash redemption by BPLP, however, BXP may elect to acquire any common units so tendered by issuing shares of BXP common stock in exchange for the common units. If BXP so elects, its common stock will be exchanged for common units on a one-for-one basis. This one-for-one exchange ratio is subject to specified adjustments to prevent dilution. BXP generally expects that it will elect to issue its common stock in connection with each such presentation for redemption rather than having BPLP pay cash. With each such exchange or redemption, BXP’s percentage ownership in BPLP will increase. In addition, whenever BXP issues shares of its common stock other than to acquire common units of BPLP, BXP must contribute any net proceeds it receives to BPLP and BPLP must issue to BXP an equivalent number of common units of BPLP. This structure is commonly referred to as an umbrella partnership REIT, or UPREIT.
The Company believes that combining the quarterly reports on Form 10-Q of BXP and BPLP into this single report provides the following benefits:
•enhances investors’ understanding of BXP and BPLP by enabling investors to view the business as a whole in the same manner as management views and operates the business;
•eliminates duplicative disclosure and provides a more concise and readable presentation because a substantial portion of the disclosure applies to both BXP and BPLP; and
•creates time and cost efficiencies through the preparation of one combined report instead of two separate reports.
The Company believes it is important to understand the few differences between BXP and BPLP in the context of how BXP and BPLP operate as a consolidated company. The financial results of BPLP are consolidated into the financial statements of BXP. BXP does not have any other significant assets, liabilities or operations, other than its investment in BPLP, nor does it have employees of its own. BPLP, not BXP, generally executes all significant business relationships other than transactions involving the securities of BXP. BPLP holds substantially all of the assets of BXP, including ownership interests in joint ventures. BPLP conducts the operations of the business and is structured as a partnership with no publicly traded equity. Except for the net proceeds from equity offerings by BXP, which are contributed to the capital of BPLP in exchange for common or preferred units of partnership in BPLP, as applicable, BPLP generates all remaining capital required by the Company’s business. These sources include working capital, net cash provided by operating activities, borrowings under its credit facilities, the issuance of secured and unsecured debt and equity securities and proceeds received from the disposition of certain properties and interests in joint ventures.
Shareholders’ equity, partners’ capital and noncontrolling interests are the main areas of difference between the consolidated financial statements of BXP and BPLP. The limited partners of BPLP are accounted for as partners’ capital in BPLP’s financial statements and as noncontrolling interests in BXP’s financial statements. The noncontrolling interests in BPLP’s financial statements include the interests of unaffiliated partners in various consolidated partnerships. The noncontrolling interests in BXP’s financial statements include the same
noncontrolling interests at BPLP’s level and limited partners of BPLP. The differences between shareholders’ equity and partners’ capital result from differences in the equity issued at BXP and BPLP levels.
In addition, the consolidated financial statements of BXP and BPLP differ in total real estate assets resulting from previously applied acquisition accounting by BXP for the issuance of common stock in connection with non-sponsor redemptions of common units of BPLP. This accounting resulted in a step-up of the real estate assets at BXP. This resulted in a difference between the net real estate of BXP as compared to BPLP of approximately $273.0 million, or 1.6% at September 30, 2020, and a corresponding difference in depreciation expense, impairment losses and gains on sales of real estate upon the sale of certain properties having an allocation of the real estate step-up. The acquisition accounting was nullified on a prospective basis beginning in 2009 as a result of the Company’s adoption of a new accounting standard requiring any future redemptions to be accounted for solely as an equity transaction.
To help investors better understand the key differences between BXP and BPLP, certain information for BXP and BPLP in this report has been separated, as set forth below:
• Item 1. Financial Statements (unaudited), which includes the following specific disclosures for BXP and BPLP:
• Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations includes information specific to each entity, where applicable; and
• Item 2. Liquidity and Capital Resources includes separate reconciliations of amounts to each entity’s financial statements, where applicable.
This report also includes separate Part I - Item 4. Controls and Procedures and Part II - Item 2. Unregistered Sales of Equity Securities and Use of Proceeds sections for each of BXP and BPLP, as well as separate Exhibits 31 and 32 certifications for each of BXP and BPLP.
(Unaudited and in thousands, except for share and par value amounts)
September 30, 2020
December 31, 2019
ASSETS
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,592,925 and $6,497,031 at September 30, 2020 and December 31, 2019, respectively)
$
22,770,691
$
22,502,976
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at September 30, 2020 and December 31, 2019, respectively)
237,382
237,394
Right of use assets - operating leases
146,973
148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,134,450) and $(1,058,495) at September 30, 2020 and December 31, 2019, respectively)
(5,413,709)
(5,266,798)
Total real estate
17,741,337
17,622,212
Cash and cash equivalents (amounts related to VIEs of $267,229 and $280,033 at September 30, 2020 and December 31, 2019, respectively)
1,714,783
644,950
Cash held in escrows
50,006
46,936
Investments in securities
34,934
36,747
Tenant and other receivables, net (amounts related to VIEs of $12,968 and $28,918 at September 30, 2020 and December 31, 2019, respectively)
76,330
112,807
Related party note receivable, net
77,592
80,000
Notes receivable, net
25,304
15,920
Accrued rental income, net (amounts related to VIEs of $323,220 and $298,318 at September 30, 2020 and December 31, 2019, respectively)
1,111,078
1,038,788
Deferred charges, net (amounts related to VIEs of $187,025 and $214,769 at September 30, 2020 and December 31, 2019, respectively)
644,036
689,213
Prepaid expenses and other assets (amounts related to VIEs of $53,529 and $20,931 at September 30, 2020 and December 31, 2019, respectively)
106,524
41,685
Investments in unconsolidated joint ventures
1,377,291
955,647
Total assets
$
22,959,215
$
21,284,905
LIABILITIES AND EQUITY
Liabilities:
Mortgage notes payable, net (amounts related to VIEs of $2,910,460 and $2,918,806 at September 30, 2020 and December 31, 2019, respectively)
$
2,912,494
$
2,922,408
Unsecured senior notes, net
9,636,397
8,390,459
Unsecured line of credit
—
—
Unsecured term loan, net
499,270
498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,266 and $20,189 at September 30, 2020 and December 31, 2019, respectively)
233,288
224,042
Lease liabilities - operating leases
201,337
200,180
Accounts payable and accrued expenses (amounts related to VIEs of $26,848 and $45,777 at September 30, 2020 and December 31, 2019, respectively)
345,959
377,553
Dividends and distributions payable
171,070
170,713
Accrued interest payable
88,826
90,016
Other liabilities (amounts related to VIEs of $128,451 and $140,110 at September 30, 2020 and December 31, 2019, respectively)
369,932
387,994
Total liabilities
14,458,573
13,262,304
Commitments and contingencies
—
—
Redeemable deferred stock units— 69,787 and 60,676 units outstanding at redemption value at September 30, 2020 and December 31, 2019, respectively
(Unaudited and in thousands, except for share and par value amounts)
September 30, 2020
December 31, 2019
Equity:
Stockholders’ equity attributable to Boston Properties, Inc.:
Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding
—
—
Preferred stock, $0.01 par value, 50,000,000 shares authorized;
5.25% Series B cumulative redeemable preferred stock, $0.01 par value, liquidation preference $2,500 per share, 92,000 shares authorized, 80,000 shares issued and outstanding at September 30, 2020 and December 31, 2019
200,000
200,000
Common stock, $0.01 par value, 250,000,000 shares authorized, 155,715,200 and 154,869,198 issued and 155,636,300 and 154,790,298 outstanding at September 30, 2020 and December 31, 2019, respectively
1,556
1,548
Additional paid-in capital
6,348,076
6,294,719
Dividends in excess of earnings
(364,720)
(760,523)
Treasury common stock at cost, 78,900 shares at September 30, 2020 and December 31, 2019
(2,722)
(2,722)
Accumulated other comprehensive loss
(52,622)
(48,335)
Total stockholders’ equity attributable to Boston Properties, Inc.
6,129,568
5,684,687
Noncontrolling interests:
Common units of Boston Properties Limited Partnership
634,796
600,860
Property partnerships
1,730,674
1,728,689
Total equity
8,495,038
8,014,236
Total liabilities and equity
$
22,959,215
$
21,284,905
The accompanying notes are an integral part of these consolidated financial statements.
Net income attributable to noncontrolling interests
(25,581)
(30,974)
(131,370)
(97,915)
Other comprehensive (income) loss attributable to noncontrolling interests
(405)
(69)
45
54
Comprehensive income attributable to Boston Properties, Inc.
$
94,778
$
109,740
$
858,129
$
373,820
_______________
(1)Amounts reclassified from comprehensive income primarily to interest expense within Boston Properties, Inc.’s Consolidated Statements of Operations.
The accompanying notes are an integral part of these consolidated financial statements.