BOSTON PROPERTIES LTD PARTNERSHIP

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

BXP$63.54-4.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) Financial Statement Schedule

BXP, Inc. Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2025(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Land	Building
767 Fifth Avenue (the General Motors Building)		Office		New York, NY		$2,294,992		$1,796,252		$1,532,654		$423,940		$1,796,247		$1,956,599		$—		$—		$3,752,846		$614,923		1968/2019		2013		(1)
Prudential Center		Office		Boston, MA		—		92,077		948,357		862,028		115,639		1,786,823		—		—		1,902,462		871,069		1965/1993/2002/2016-2017/2024		1998/1999/2000		(1)
Embarcadero Center		Office		San Francisco, CA		—		179,697		847,410		597,249		195,986		1,428,370		—		—		1,624,356		873,659		1970/1989		1998-1999		(1)
399 Park Avenue		Office		New York, NY		—		339,200		700,358		431,612		354,107		1,117,063		—		—		1,471,170		564,004		1961/2018		2002		(1)
601 Lexington Avenue		Office		New York, NY		991,878		241,600		494,782		569,220		289,639		1,015,963		—		—		1,305,602		429,085		1977/1997/2021		2001		(1)
200 Clarendon Street and Garage		Office		Boston, MA		—		219,543		667,884		311,929		258,001		941,355		—		—		1,199,356		392,736		1976		2010		(1)
Salesforce Tower		Office		San Francisco, CA		—		200,349		946,205		4,149		200,349		950,354		—		—		1,150,703		214,753		2018		2013		(1)
250 West 55th Street		Office		New York, NY		—		285,263		603,167		49,995		285,263		653,162		—		—		938,425		232,085		2014		2007		(1)
100 Federal Street		Office		Boston, MA		—		131,067		435,954		154,169		131,067		590,123		—		—		721,190		209,057		1971-1975/2017		2012		(1)
7 Times Square		Office		New York, NY		—		165,413		380,438		159,914		169,193		536,572		—		—		705,765		279,693		2004		2000		(1)
Madison Centre		Office		Seattle, WA		—		104,641		564,336		5,672		104,641		570,008		—		—		674,649		76,377		2017		2022		(1)
Santa Monica Business Park	Office		Los Angeles, CA		199,302		46,360		410,421		217,684		210,471		462,459		1,535		—		674,465		36,680		1976-1980		2023		(1)
Carnegie Center		Office		Princeton, NJ		—		142,666		316,856		194,968		94,243		501,021		59,226		—		654,490		294,418		1983-2016		1998/1999/2000/2007/2014/2017/2019		(1)
Reston Next		Office		Reston, VA		—		35,549		525,277		17,150		2,901		575,075		—		—		577,976		69,776		2022		1998		(1)
Atlantic Wharf		Office		Boston, MA		—		63,988		454,537		45,916		63,988		500,453		—		—		564,441		210,601		2011		2007		(1)
2100 Pennsylvania Avenue		Office		Washington, DC		—		185,203		324,206		5,228		185,203		329,434		—		—		514,637		48,475		2023		N/A		(1)
599 Lexington Avenue		Office		New York, NY		—		81,040		100,507		285,903		87,852		379,598		—		—		467,450		218,359		1986		1997		(1)
Fountain Square		Office		Reston, VA		—		56,853		306,298		60,266		56,853		366,564		—		—		423,417		132,865		1986-1990		2012		(1)
510 Madison Avenue		Office		New York, NY		—		103,000		253,665		50,416		103,000		304,081		—		—		407,081		113,410		2012		2010		(1)
325 Main Street		Office		Cambridge, MA		—	(2)	21,596		312,492		55,404		21,596		367,896		—		—		389,492		35,634		2022		1997		(1)
680 Folsom Street		Office		San Francisco, CA		—		72,545		219,766		18,167		72,545		237,933		—		—		310,478		92,143		2014		2012		(1)
2200 Pennsylvania Avenue		Office		Washington, DC		—		—		183,541		125,161		100,592		208,110		—		—		308,702		83,117		2011		2008		(1)
145 Broadway		Office		Cambridge, MA		—		121		273,013		26,980		23,367		276,747		—		—		300,114		52,401		2019		1997		(1)
South of Market and Democracy Tower		Office		Reston, VA		—		13,603		237,479		36,878		13,687		274,273		—		—		287,960		128,007		2008-2009		2003		(1)
Bay Colony Corporate Center		Office		Waltham, MA		—		18,789		148,451		95,783		18,789		241,400		2,834		—		263,023		122,700		1985-1989/2025		2011		(1)
535 Mission Street		Office		San Francisco, CA		—		40,933		148,378		14,409		40,934		162,786		—		—		203,720		53,063		2015		2013		(1)
Reservoir Place		Office		Waltham, MA		—		18,605		104,124		65,883		20,108		168,504		—		—		188,612		97,426		1955/1987/2017		1997/1998		(1)

BXP, Inc. Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2025(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Property Name · Type · Location · Encumbrances · Land · Building · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
901 New York Avenue	Office	Washington, DC	197,682		65,808	72,970	45,671	65,808	118,641	—	—	184,449	8,414	2004	2024	(1)
Mountain View Research Park	Office	Mountain View, CA	—		95,066	68,373	20,266	95,066	88,639	—	—	183,705	41,187	1977-1981/2007-2013	2013	(1)
One Freedom Square	Office	Reston, VA	—		9,929	84,504	49,956	11,293	133,096	—	—	144,389	78,607	2000	2003	(1)
Two Freedom Square	Office	Reston, VA	—		13,930	77,739	47,125	15,420	123,374	—	—	138,794	56,636	2001	2003	(1)
Kingstowne Towne Center	Office	Alexandria, VA	—		18,021	109,038	5,303	18,062	113,370	930	—	132,362	61,105	2003-2006	2007	(1)
One and Two Reston Overlook	Office	Reston, VA	—		16,456	66,192	48,958	16,179	115,427	—	—	131,606	68,795	1999	2000	(1)
Weston Corporate Center	Office	Weston, MA	—		25,753	92,312	10,816	25,854	103,027	—	—	128,881	47,039	2010	2001	(1)
1330 Connecticut Avenue	Office	Washington, DC	—		25,982	82,311	18,088	20,792	105,589	—	—	126,381	60,339	1984/2018	2004	(1)
Discovery Square	Office	Reston, VA	—		11,198	71,782	34,141	12,533	104,588	—	—	117,121	66,246	2001	2003	(1)
17Fifty Presidents Street	Office	Reston, VA	—		—	113,362	162	—	113,524	—	—	113,524	25,408	2020	2013	(1)
355 Main Street	Office	Cambridge, MA	596,213		18,863	53,346	38,834	21,173	89,870	—	—	111,043	42,355	1981/1996/2013	2006	(1)
Waltham Weston Corporate Center	Office	Waltham, MA	—		10,385	60,694	25,992	11,097	85,974	—	—	97,071	51,285	2003	1999	(1)
Sumner Square	Office	Washington, DC	—		624	28,745	66,049	27,014	68,404	—	—	95,418	32,631	1985	1999	(1)
10 CityPoint	Office	Waltham, MA	—		1,953	85,752	7,285	2,288	92,702	—	—	94,990	29,905	2016	1997	(1)
90 Broadway	Office	Cambridge, MA	—	(2)	19,104	52,078	22,168	20,785	72,565	—	—	93,350	35,825	1983/1998/2013	2006	(1)
230 CityPoint	Office	Waltham, MA	—		13,189	49,823	25,922	13,807	75,127	—	—	88,934	45,147	1992	2005	(1)
77 CityPoint	Office	Waltham, MA	—		13,847	60,383	11,356	14,023	71,563	—	—	85,586	33,830	2008	2001	(1)
20 CityPoint	Office	Waltham, MA	—		4,887	72,764	7,072	4,887	79,836	—	—	84,723	19,881	2020	2007	(1)
Wisconsin Place	Office	Chevy Chase, MD	—		—	53,349	26,485	—	79,834	—	—	79,834	33,776	2009	2004	(1)
Shady Grove Innovation District	Office	Rockville, MD	—		52,030	64,212	(37,955)	18,812	24,468	35,007	—	78,287	6,279	1968-1985	2021	(1)
2440 West El Camino Real	Office	Mountain View, CA	—		16,741	51,285	6,629	16,741	57,914	—	—	74,655	25,436	1987/2003	2011	(1)
890 Winter Street	Office	Waltham, MA	—		13,913	28,557	26,191	13,913	54,748	—	—	68,661	12,778	1999	2019	(1)
Reston Corporate Center	Office	Reston, VA	—		9,135	50,857	4,489	10,148	54,333	—	—	64,481	36,950	1984	1998	(1)
255 Main Street	Office	Cambridge, MA	—		134	25,110	33,909	548	58,605	—	—	59,153	47,704	1987	1997	(1)
University Place	Office	Cambridge, MA	—		—	37,091	13,714	3,435	47,370	—	—	50,805	39,872	1985	1998	(1)
Reston Next Office Phase II	Office	Reston, VA	—		1,692	46,124	—	1,692	46,124	—	—	47,816	642	N/A	1998	(1)
Capital Gallery	Office	Washington, DC	—		4,725	29,565	11,465	8,662	37,093	—	—	45,755	25,455	1981/2006	2007	(1)
150 Broadway	Office	Cambridge, MA	—		850	25,042	15,749	1,323	40,318	—	—	41,641	21,863	1999	1997	(1)
North First Business Park	Office	San Jose, CA	—		23,398	13,069	472	17,839	19,100	—	—	36,939	18,340	1981	2007	(1)
105 Broadway	Office	Cambridge, MA	—		1,299	12,943	12,723	2,395	24,570	—	—	26,965	19,381	1990	1997	(1)
Lexington Office Park	Office	Lexington, MA	—		998	1,426	19,907	1,263	19,393	1,675	—	22,331	17,593	1982	1997	(1)
The Point	Office	Waltham, MA	—		6,395	10,040	546	6,492	10,489	—	—	16,981	3,291	2015	2007	(1)
690 Folsom Street	Office	San Francisco, CA	—		3,219	11,038	1,877	3,219	12,915	—	—	16,134	5,165	2015	2012	(1)
Avant Retail	Office	Reston, VA	—		1,499	6,647	2,577	1,499	9,224	—	—	10,723	4,104	2014	2010	(1)
32 Hartwell Avenue	Office	Lexington, MA	—		168	1,943	6,394	314	8,191	—	—	8,505	3,659	1968/1979/1987	1997	(1)

BXP, Inc. Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2025(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Property Name · Type · Location · Encumbrances · Land · Building · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
453 Ravendale Drive	Office	Mountain View, CA	—			5,477	1,090	1,308		5,477		2,398	—		—		7,875		1,483		1977	2012		(1)
125 Broadway	Life Sciences	Cambridge, MA	—			126,364	433,662	6,496		126,364		440,158	—		—		566,522		54,903		2000	2022		(1)
180 CityPoint	Life Sciences	Waltham, MA	—			10,908	211,883	12,078		10,908		223,961	—		—		234,869		14,537		2024	2006		(1)
300 Binney Street	Life Sciences	Cambridge, MA	—			18,080	51,262	157,956		18,080		209,218	—		—		227,298		15,427		2024	2009		(1)
880 Winter Street	Life Sciences	Waltham, MA	—			15,597	37,255	95,618		15,597		132,873	—		—		148,470		26,135		1998/2022	2019		(1)
200 West Street	Life Sciences	Waltham, MA	—			16,148	24,983	79,619		16,813		103,580	357		—		120,750		39,547		1999/2021	1997		(1)
153 & 211 Second Avenue	Life Sciences	Waltham, MA	—			33,233	55,940	3,710		33,233		59,650	—		—		92,883		9,161		1964-2006	2021		(1)
103 CityPoint	Life Sciences	Waltham, MA	—			4,672	77,515	93		4,672		77,608	—		—		82,280		2,556		2024	2007		(1)
33 Hayden Avenue	Life Sciences	Lexington, MA	—			266	3,234	11,506		425		14,576	5		—		15,006		11,411		1979	1997		(1)
92-100 Hayden Avenue	Life Sciences	Lexington, MA	—			594	6,748	1,909		778		8,473	—		—		9,251		7,551		1985	1997		(1)
250 Binney Street	Life Sciences	Cambridge, MA	—			110	4,483	3,593		273		7,913	—		—		8,186		7,501		1983	1997		(1)
The Skylyne	Residential	Oakland, CA	—			—	239,077	1,792		—		240,869	—		—		240,869		32,233		2020	N/A		(1)
The Lofts at Atlantic Wharf	Residential	Boston, MA	—			3,529	54,891	2,598		3,529		57,489	—		—		61,018		21,589		2011	2007		(1)
Boston Marriott Cambridge	Hotel	Cambridge, MA	—			478	37,918	33,074		1,201		69,640	629		—		71,470		55,962		1986/2017	1997		(1)
Kendall Center Green Garage	Garage	Cambridge, MA	—		(2)	—	35,035	7,335		103		42,267	—		—		42,370		21,209		1984	2006		(1)
Kendall Center Yellow Garage	Garage	Cambridge, MA	—			1,256	15,697	1,674		1,434		17,193	—		—		18,627		8,704		2006	2004		(1)
290 Binney Street	Development	Cambridge, MA	—			—	—	888,992		1,054		—	—		887,938		888,992		—		N/A	1997		N/A
343 Madison Avenue	Development	New York, NY	—			—	—	377,992		131,898		—	—		246,094		377,992		—		N/A	2023		N/A
121 Broadway	Development	Cambridge, MA	—			—	—	273,697		—		—	—		273,697		273,697		—		N/A	1997		N/A
725 12th Street	Development	Washington, DC	—			26,997	8,369	19,403		—		—	—		54,769		54,769		—		1992	2024		N/A
Reston Next Retail	Development	Reston, VA	—			—	—	15,945		417		2,769	—		12,759		15,945		66		N/A	1998		N/A
777 Harrison Street	Land	San Francisco, CA	—			144,647	—	28,328		—		—	172,975		—		172,975		—		N/A	2020		N/A
Back Bay Station Master Plan	Land	Boston, MA	—			—	—	104,811		26,022		—	78,789		—		104,811		—		N/A	N/A		N/A
2100 M Street	Land	Washington, DC	—			55,914	—	261		—		—	56,175		—		56,175		—		N/A	2025		N/A
CityPoint South Master Plan	Land	Waltham, MA	—			—	—	37,749		—		—	37,749		—		37,749		—		N/A	N/A		N/A
North First Master Plan	Land	San Jose, CA	—			35,004	—	(4,351)		—		—	30,653		—		30,653		—		N/A	2007		N/A
Kendall Center Master Plan	Land	Cambridge, MA	—			—	—	17,044		—		—	17,044		—		17,044		—		N/A	1997		N/A
Reston Gateway Master Plan	Land	Reston, VA	—			—	—	12,443		—		—	12,443		—		12,443		—		N/A	1998		N/A
Springfield Metro Center	Land	Springfield, VA	—			—	—	8,868		—		—	8,868		—		8,868		—		N/A	2007		N/A
Weston Quarry	Land	Weston, MA	—			—	—	1,516		—		—	1,516		—		1,516		—		N/A	2001		N/A
Reston Overlook Master Plan	Land	Reston, VA	—			—	—	82		—		—	82		—		82		—		N/A	2000		N/A
				$4,280,067		(3)	$5,656,418		$15,510,064		$7,719,548		$5,918,915	(4)		$20,973,366		(5)		$518,492	(6)		$1,475,257		$28,886,030	$8,003,414

Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $54,160. Accumulated Depreciation does not include approximately $36,897 of accumulated depreciation related to Furniture, Fixtures and Equipment. Office type includes office, life sciences, and retail properties.

The aggregate cost and accumulated depreciation for tax purposes was approximately $26.7 billion and $6.8 billion, respectively.

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

(2)This property is encumbered with the mortgage note shown at 355 Main Street.

(3)Includes unamortized deferred financing costs totaling approximately $(18.0) million.

(4)Includes Right of Use Assets - Finance Leases and Right of Use Assets - Operating Leases of approximately $349,314 and $325,841, respectively.

(5)Includes Right of Use Assets - Finance Leases of approximately $23,156.

(6)Includes pre-development costs.

BXP, Inc.

Real Estate and Accumulated Depreciation

December 31, 2025, 2024 and 2023

(dollars in thousands)

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

	2025	2024	2023
Real Estate:
Balance at the beginning of the year	$28,521,176	$27,421,471	$25,744,214
Additions to/improvements of real estate	1,225,473	1,210,558	1,811,036
Assets sold/written-off	(860,619)	(110,853)	(133,779)
Balance at the end of the year	$28,886,030	$28,521,176	$27,421,471
Accumulated Depreciation:
Balance at the beginning of the year	$7,485,502	$6,841,404	$6,260,992
Depreciation expense	795,670	754,951	714,191
Assets sold/written-off	(277,758)	(110,853)	(133,779)
Balance at the end of the year	$8,003,414	$7,485,502	$6,841,404

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

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.