Item 15. Exhibits and Financial Statement Schedules
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Item 15. Exhibits and Financial Statement Schedules
(a) Financial Statement Schedule
| Boston Properties, Inc. Schedule III - Real Estate and Accumulated Depreciation December 31, 2017 (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 | $ | 2,267,041 | $ | 1,796,252 | $ | 1,532,654 | $ | 135,559 | $ | 1,796,252 | $ | 1,668,213 | $ | — | $ | — | $ | 3,464,465 | $ | 222,981 | 1968 | 2013 | (1) | |||||||||||||||||||||||||||
| Prudential Center | Office | Boston, MA | — | 92,077 | 948,357 | 501,709 | 115,638 | 1,426,505 | — | — | 1,542,143 | 511,605 | 1965/1993/2002/2016-2017 | 1998/1999/2000 | (1) | |||||||||||||||||||||||||||||||||||||
| Embarcadero Center | Office | San Francisco, CA | — | 179,697 | 847,410 | 366,780 | 195,987 | 1,197,900 | — | — | 1,393,887 | 596,100 | 1970/1989 | 1998-1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 399 Park Avenue | Office | New York, NY | — | 339,200 | 700,358 | 181,418 | 354,107 | 866,869 | — | — | 1,220,976 | 310,262 | 1961 | 2002 | (1) | |||||||||||||||||||||||||||||||||||||
| 601 Lexington Avenue | Office | New York, NY | 672,142 | 241,600 | 494,782 | 290,590 | 289,639 | 634,134 | — | 103,199 | 1,026,972 | 254,932 | 1977/1997 | 2001 | (1) | |||||||||||||||||||||||||||||||||||||
| 200 Clarendon Street and Garage | Office | Boston, MA | — | 219,543 | 667,884 | 139,189 | 219,616 | 799,991 | 7,009 | — | 1,026,616 | 161,471 | 1976 | 2010 | (1) | |||||||||||||||||||||||||||||||||||||
| 250 West 55th Street | Office | New York, NY | — | 285,263 | 603,167 | 43,296 | 285,263 | 646,463 | — | — | 931,726 | 72,058 | 2014 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Carnegie Center | Office | Princeton, NJ | — | 107,997 | 389,359 | 157,960 | 108,948 | 543,514 | 2,854 | — | 655,316 | 228,171 | 1983-2016 | 1998/1999/2000/2007/2014/2017 | (1) | |||||||||||||||||||||||||||||||||||||
| 100 Federal Street | Office | Boston, MA | — | 131,067 | 435,954 | 79,035 | 131,067 | 514,989 | — | — | 646,056 | 97,630 | 1971-1975/2017 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| Times Square Tower | Office | New York, NY | — | 165,413 | 380,438 | 87,050 | 169,193 | 463,708 | — | — | 632,901 | 191,435 | 2004 | 2000 | (1) | |||||||||||||||||||||||||||||||||||||
| Atlantic Wharf | Office | Boston, MA | — | 63,988 | 454,537 | 17,473 | 63,988 | 472,010 | — | — | 535,998 | 101,525 | 2011 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Fountain Square | Office | Reston, VA | — | 56,853 | 306,298 | 17,834 | 56,853 | 320,474 | 3,658 | — | 380,985 | 60,098 | 1986-1990 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| 510 Madison Avenue | Office | New York, NY | — | 103,000 | 253,665 | 23,875 | 103,000 | 277,540 | — | — | 380,540 | 54,056 | 2012 | 2010 | (1) | |||||||||||||||||||||||||||||||||||||
| 599 Lexington Avenue | Office | New York, NY | — | 81,040 | 100,507 | 165,350 | 87,852 | 259,045 | — | — | 346,897 | 165,739 | 1986 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 680 Folsom Street | Office | San Francisco, CA | — | 72,545 | 219,766 | 7,545 | 72,545 | 227,311 | — | — | 299,856 | 30,577 | 2014 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| South of Market and Democracy Tower | Office | Reston, VA | — | 13,603 | 237,479 | 14,991 | 13,687 | 252,386 | — | — | 266,073 | 87,711 | 2008-2009 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| 601 Massachusetts Avenue | Office | Washington, DC | — | 95,310 | 165,173 | 2,353 | 95,322 | 167,514 | — | — | 262,836 | 12,177 | 2016 | 2008 | (1) | |||||||||||||||||||||||||||||||||||||
| Bay Colony Corporate Center | Office | Waltham, MA | — | 18,789 | 148,451 | 73,418 | 18,789 | 221,869 | — | — | 240,658 | 57,320 | 1985-1989 | 2011 | (1) | |||||||||||||||||||||||||||||||||||||
| Gateway Center | Office | San Francisco, CA | — | 28,255 | 139,245 | 59,019 | 30,627 | 195,892 | — | — | 226,519 | 102,634 | 1984/1986/2002 | 1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 535 Mission Street | Office | San Francisco, CA | — | 40,933 | 148,378 | 3,259 | 40,933 | 151,637 | — | — | 192,570 | 14,637 | 2015 | 2013 | (1) | |||||||||||||||||||||||||||||||||||||
| 2200 Pennsylvania Avenue | Office | Washington, DC | — | — | 183,541 | 4,907 | — | 188,448 | — | — | 188,448 | 46,780 | 2011 | 2008 | (1) | |||||||||||||||||||||||||||||||||||||
| Mountain View Research Park | Office | Mountain View, CA | — | 95,066 | 68,373 | 8,136 | 95,066 | 76,509 | — | — | 171,575 | 15,146 | 1977-1981/2007-2013 | 2013 | (1) | |||||||||||||||||||||||||||||||||||||
| Reservoir Place | Office | Waltham, MA | — | 18,605 | 104,124 | 43,255 | 20,108 | 145,876 | — | — | 165,984 | 66,230 | 1955/1987/2017 | 1997/1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 1330 Connecticut Avenue | Office | Washington, DC | — | 25,982 | 82,311 | 32,839 | 27,135 | 113,997 | — | — | 141,132 | 22,530 | 1984 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| 1333 New Hampshire Avenue | Office | Washington, DC | — | 34,032 | 85,660 | 11,473 | 35,382 | 95,783 | — | — | 131,165 | 40,499 | 1996 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| Kingstowne Towne Center | Office | Alexandria, VA | — | 18,021 | 109,038 | 1,371 | 18,062 | 110,368 | — | — | 128,430 | 39,048 | 2003-2006 | 2007 | (1) |
| Boston Properties, Inc. Schedule III - Real Estate and Accumulated Depreciation December 31, 2017 (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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| One Freedom Square | Office | Reston, VA | — | 9,929 | 84,504 | 32,618 | 11,293 | 115,758 | — | — | 127,051 | 50,313 | 2000 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| Capital Gallery | Office | Washington, DC | — | 4,725 | 29,565 | 89,514 | 8,662 | 115,142 | — | — | 123,804 | 66,009 | 1981/2006 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Weston Corporate Center | Office | Weston, MA | — | 25,753 | 92,312 | (123 | ) | 25,854 | 92,088 | — | — | 117,942 | 23,125 | 2010 | 2001 | (1) | ||||||||||||||||||||||||||||||||||||
| Two Freedom Square | Office | Reston, VA | — | 13,930 | 77,739 | 23,379 | 15,420 | 99,628 | — | — | 115,048 | 47,936 | 2001 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| One and Two Reston Overlook | Office | Reston, VA | — | 16,456 | 66,192 | 25,111 | 16,179 | 91,580 | — | — | 107,759 | 44,626 | 1999 | 2000 | (1) | |||||||||||||||||||||||||||||||||||||
| Discovery Square | Office | Reston, VA | — | 11,198 | 71,782 | 24,414 | 12,533 | 94,861 | — | — | 107,394 | 43,184 | 2001 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| 140 Kendrick Street | Office | Needham, MA | — | 18,095 | 66,905 | 17,492 | 19,092 | 83,400 | — | — | 102,492 | 29,013 | 2000 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| 355 Main Street | Office | Cambridge, MA | — | 18,863 | 53,346 | 27,450 | 21,173 | 78,486 | — | — | 99,659 | 26,915 | 1981/1996/2013 | 2006 | (1) | |||||||||||||||||||||||||||||||||||||
| 10 CityPoint | Office | Waltham, MA | — | 1,953 | 85,752 | 2,833 | 2,116 | 88,422 | — | — | 90,538 | 4,673 | 2016 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 90 Broadway | Office | Cambridge, MA | — | 19,104 | 52,078 | 17,180 | 20,785 | 67,577 | — | — | 88,362 | 19,254 | 1983/1998/2013 | 2006 | (1) | |||||||||||||||||||||||||||||||||||||
| 230 CityPoint | Office | Waltham, MA | — | 13,189 | 49,823 | 25,236 | 13,593 | 74,655 | — | — | 88,248 | 26,562 | 1992 | 2005 | (1) | |||||||||||||||||||||||||||||||||||||
| Waltham Weston Corporate Center | Office | Waltham, MA | — | 10,385 | 60,694 | 11,030 | 11,097 | 71,012 | — | — | 82,109 | 30,036 | 2003 | 1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 77 CityPoint | Office | Waltham, MA | — | 13,847 | 60,383 | 5,703 | 13,873 | 66,060 | — | — | 79,933 | 23,044 | 2008 | 2001 | (1) | |||||||||||||||||||||||||||||||||||||
| 3625-3635 Peterson Way | Office | Santa Clara, CA | — | 63,206 | 14,879 | 138 | 63,206 | 14,879 | 138 | — | 78,223 | 5,120 | 1979 | 2016 | (1) | |||||||||||||||||||||||||||||||||||||
| North First Business Park | Office | San Jose, CA | — | 58,402 | 13,069 | 4,416 | 23,377 | 16,600 | 35,910 | — | 75,887 | 15,839 | 1981 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| 300 Binney Street | Office | Cambridge, MA | — | 18,080 | 51,262 | 140 | 18,080 | 51,402 | — | — | 69,482 | 7,755 | 2013 | 2009 | (1) | |||||||||||||||||||||||||||||||||||||
| 2440 West El Camino Real | Office | Mountain View, CA | — | 16,741 | 51,285 | 1,287 | 16,741 | 52,572 | — | — | 69,313 | 10,790 | 1987/2003 | 2011 | (1) | |||||||||||||||||||||||||||||||||||||
| Wisconsin Place | Office | Chevy Chase, MD | — | — | 53,349 | 14,907 | — | 68,256 | — | — | 68,256 | 19,775 | 2009 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| Reston Corporate Center | Office | Reston, VA | — | 9,135 | 50,857 | 6,236 | 10,148 | 56,080 | — | — | 66,228 | 26,769 | 1984 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| New Dominion Technology Park, Bldg. Two | Office | Herndon, VA | — | 5,584 | 51,868 | 4,157 | 6,510 | 55,099 | — | — | 61,609 | 23,652 | 2004 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 200 West Street | Office | Waltham, MA | — | 16,148 | 24,983 | 10,673 | 16,813 | 34,991 | — | — | 51,804 | 21,140 | 1999 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| New Dominion Technology Park, Bldg. One | Office | Herndon, VA | 32,691 | 3,880 | 43,227 | 3,882 | 4,583 | 46,406 | — | — | 50,989 | 25,940 | 2001 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| Sumner Square | Office | Washington, DC | — | 624 | 28,745 | 19,000 | 1,478 | 46,891 | — | — | 48,369 | 23,570 | 1985 | 1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 255 Main Street | Office | Cambridge, MA | — | 134 | 25,110 | 21,583 | 548 | 46,279 | — | — | 46,827 | 28,250 | 1987 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| University Place | Office | Cambridge, MA | 7,407 | — | 37,091 | 9,007 | 390 | 45,708 | — | — | 46,098 | 26,295 | 1985 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 2600 Tower Oaks Boulevard | Office | Rockville, MD | — | 4,243 | 31,125 | 9,867 | 4,785 | 40,450 | — | — | 45,235 | 21,020 | 2001 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| Quorum Office Park | Office | Chelmsford, MA | — | 3,750 | 32,454 | 5,813 | 5,187 | 36,830 | — | — | 42,017 | 16,594 | 2001 | 2000 | (1) | |||||||||||||||||||||||||||||||||||||
| 500 E Street | Office | Washington, DC | — | 109 | 22,420 | 14,743 | 2,379 | 34,893 | — | — | 37,272 | 23,781 | 1987 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 150 Broadway | Office | Cambridge, MA | — | 850 | 25,042 | 8,540 | 1,323 | 33,109 | — | — | 34,432 | 16,933 | 1999 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 325 Main Street | Office | Cambridge, MA | — | 174 | 12,200 | 11,963 | 965 | 23,372 | — | — | 24,337 | 12,852 | 1987/2013 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 105 Broadway | Office | Cambridge, MA | — | 1,299 | 12,943 | 8,214 | 2,395 | 20,061 | — | — | 22,456 | 13,493 | 1990 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| Lexington Office Park | Office | Lexington, MA | — | 998 | 1,426 | 18,219 | 1,264 | 19,379 | — | — | 20,643 | 13,404 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 201 Spring Street | Office | Lexington, MA | — | 2,849 | 15,303 | 694 | 3,124 | 15,722 | — | — | 18,846 | 7,931 | 1997 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| The Point | Office | Waltham, MA | — | 6,395 | 10,040 | 409 | 6,480 | 10,364 | — | — | 16,844 | 714 | 2015 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| 92-100 Hayden Avenue | Office | Lexington, MA | — | 594 | 6,748 | 8,181 | 802 | 14,721 | — | — | 15,523 | 12,495 | 1985 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 91 Hartwell Avenue | Office | Lexington, MA | — | 784 | 6,464 | 8,269 | 941 | 14,576 | — | — | 15,517 | 9,849 | 1985 | 1997 | (1) |
| Boston Properties, Inc. Schedule III - Real Estate and Accumulated Depreciation December 31, 2017 (dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Property Name | Type | Location | Encumbrances | Original | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Building and Improvements | Land Held for Development | Development and Construction in Progress | Total | Accumulated Depreciation | Year(s) Built/ Renovated | Year(s) Acquired | Depreciable Lives (Years) | ||||||||||||||||||||||||||||||||||||||
| Land | Building | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 690 Folsom Street | Office | San Francisco, CA | — | 3,219 | 11,038 | 1,157 | 3,219 | 12,195 | — | — | 15,414 | 1,295 | 2015 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| 181 Spring Street | Office | Lexington, MA | — | 1,066 | 9,520 | 2,318 | 1,160 | 11,744 | — | — | 12,904 | 5,194 | 1999 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 195 West Street | Office | Waltham, MA | — | 1,611 | 6,652 | 4,340 | 1,858 | 10,745 | — | — | 12,603 | 7,963 | 1990 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 33 Hayden Avenue | Office | Lexington, MA | — | 266 | 3,234 | 8,381 | 425 | 11,456 | — | — | 11,881 | 8,211 | 1979 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7501 Boston Boulevard, Building Seven | Office | Springfield, VA | — | 665 | 9,273 | 819 | 791 | 9,966 | — | — | 10,757 | 4,848 | 1997 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7435 Boston Boulevard, Building One | Office | Springfield, VA | — | 392 | 3,822 | 3,997 | 659 | 7,552 | — | — | 8,211 | 5,510 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 250 Binney Street | Office | Cambridge, MA | — | 110 | 4,483 | 3,593 | 273 | 7,913 | — | — | 8,186 | 5,066 | 1983 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 8000 Grainger Court, Building Five | Office | Springfield, VA | — | 366 | 4,282 | 3,375 | 601 | 7,422 | — | — | 8,023 | 5,644 | 1984 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7450 Boston Boulevard, Building Three | Office | Springfield, VA | — | 1,165 | 4,681 | 1,773 | 1,430 | 6,189 | — | — | 7,619 | 3,451 | 1987 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 453 Ravendale Drive | Office | Mountain View, CA | — | 5,477 | 1,090 | 408 | 5,477 | 1,498 | — | — | 6,975 | 472 | 1977 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| 17 Hartwell Avenue | Office | Lexington, MA | — | 26 | 150 | 6,252 | 65 | 6,363 | — | — | 6,428 | 1,098 | 1968 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7601 Boston Boulevard, Building Eight | Office | Springfield, VA | — | 200 | 878 | 5,052 | 551 | 5,579 | — | — | 6,130 | 4,263 | 1986 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7300 Boston Boulevard, Building Thirteen | Office | Springfield, VA | — | 608 | 4,773 | 709 | 661 | 5,429 | — | — | 6,090 | 2,785 | 2002 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7500 Boston Boulevard, Building Six | Office | Springfield, VA | — | 138 | 3,749 | 1,655 | 406 | 5,136 | — | — | 5,542 | 3,965 | 1985 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 8000 Corporate Court, Building Eleven | Office | Springfield, VA | — | 136 | 3,071 | 1,596 | 774 | 4,029 | — | — | 4,803 | 2,909 | 1989 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7374 Boston Boulevard, Building Four | Office | Springfield, VA | — | 241 | 1,605 | 1,913 | 398 | 3,361 | — | — | 3,759 | 2,578 | 1984 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7375 Boston Boulevard, Building Ten | Office | Springfield, VA | — | 23 | 2,685 | 938 | 93 | 3,553 | — | — | 3,646 | 2,570 | 1988 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7451 Boston Boulevard, Building Two | Office | Springfield, VA | — | 249 | 1,542 | 1,659 | 613 | 2,837 | — | — | 3,450 | 2,429 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 32 Hartwell Avenue | Office | Lexington, MA | — | 168 | 1,943 | 1,012 | 314 | 2,809 | — | — | 3,123 | 1,974 | 1968/1979/1987 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 164 Lexington Road | Office | Billerica, MA | — | 592 | 1,370 | 319 | 643 | 1,638 | — | — | 2,281 | 868 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| The Avant at Reston Town Center | Residential | Reston, VA | — | 20,350 | 91,995 | 830 | 20,350 | 92,825 | — | — | 113,175 | 9,780 | 2014 | 2010 | (1) | |||||||||||||||||||||||||||||||||||||
| The Lofts at Atlantic Wharf | Residential | Boston, MA | — | 3,529 | 54,891 | 1,768 | 3,529 | 56,659 | — | — | 60,188 | 9,622 | 2011 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Boston Marriott Cambridge | Hotel | Cambridge, MA | — | 478 | 37,918 | 38,799 | 1,201 | 75,994 | — | — | 77,195 | 47,753 | 1986 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| Kendall Center Green Garage | Garage | Cambridge, MA | — | — | 35,035 | 7,448 | 103 | 42,380 | — | — | 42,483 | 10,779 | 1984 | 2006 | (1) | |||||||||||||||||||||||||||||||||||||
| Kendall Center Yellow Garage | Garage | Cambridge, MA | — | 1,256 | 15,697 | 1,621 | 1,434 | 17,140 | — | — | 18,574 | 5,181 | 2006 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| Kendall Center Blue Garage | Garage | Cambridge, MA | — | 1,163 | 11,633 | 2,283 | 1,579 | 13,500 | — | — | 15,079 | 9,209 | 1990 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| Salesforce Tower | Development | San Francisco, CA | — | — | — | 947,106 | 200,349 | 55,318 | — | 691,439 | 947,106 | 116 | N/A | 2013 | N/A | |||||||||||||||||||||||||||||||||||||
| Signature at Reston | Development | Reston, VA | — | — | — | 203,650 | — | — | — | 203,650 | 203,650 | — | N/A | 2013 | N/A | |||||||||||||||||||||||||||||||||||||
| Proto Kendall Square | Development | Cambridge, MA | — | — | — | 82,905 | — | — | — | 82,905 | 82,905 | — | N/A | 2015 | N/A | |||||||||||||||||||||||||||||||||||||
| 145 Broadway | Development | Cambridge, MA | — | 121 | — | 79,979 | 324 | — | — | 79,776 | 80,100 | — | NA | 1997 | N/A | |||||||||||||||||||||||||||||||||||||
| 191 Spring Street | Development | Lexington, MA | — | 2,850 | 27,166 | 35,174 | 3,151 | 46,288 | — | 15,751 | 65,190 | 19,034 | 1971/1995 | 1997 | (1) |
| Boston Properties, Inc. Schedule III - Real Estate and Accumulated Depreciation December 31, 2017 (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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 6595 Springfield Center Drive (TSA Headquarters) | Development | Springfield, VA | — | — | — | 41,918 | — | — | — | 41,918 | 41,918 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| MacArthur Station Residences | Development | Oakland, CA | — | — | — | 37,644 | — | — | — | 37,644 | 37,644 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| 20 CityPoint | Development | Waltham, MA | — | — | — | 13,056 | — | — | — | 13,056 | 13,056 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| Tower Oaks Master Plan | Land | Rockville, MD | — | — | — | 29,419 | — | — | 29,419 | — | 29,419 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| Plaza at Almaden | Land | San Jose, CA | — | — | — | 29,085 | — | — | 29,085 | — | 29,085 | — | N/A | 2006 | N/A | |||||||||||||||||||||||||||||||||||||
| Springfield Metro Center | Land | Springfield, VA | — | — | — | 19,684 | — | — | 19,684 | — | 19,684 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| 214 Third Avenue | Land | Waltham, MA | — | — | — | 13,815 | — | — | 13,815 | — | 13,815 | — | N/A | 2006 | N/A | |||||||||||||||||||||||||||||||||||||
| Reston Gateway | Land | Reston, VA | — | — | — | 13,730 | — | — | 13,730 | — | 13,730 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| 103 Fourth Avenue | Land | Waltham, MA | — | — | — | 12,115 | — | — | 12,115 | — | 12,115 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| Crane Meadow | Land | Marlborough, MA | — | — | — | 8,836 | — | — | 8,836 | — | 8,836 | — | N/A | 2000 | N/A | |||||||||||||||||||||||||||||||||||||
| Washingtonian North | Land | Gaithersburg, MD | — | — | — | 7,645 | — | — | 7,645 | — | 7,645 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| 2100 Pennsylvania Avenue | Land | Washington, DC | — | — | — | 6,543 | — | — | 6,543 | — | 6,543 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| Fourth and Harrison | Land | San Francisco, CA | — | — | — | 5,659 | — | — | 5,659 | — | 5,659 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| North First Master Plan | Land | San Jose, CA | — | — | — | 3,018 | — | — | 3,018 | — | 3,018 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| Broad Run Business Park | Land | Loudoun County, VA | — | — | — | 2,367 | — | — | 2,367 | — | 2,367 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| Kendall Center Master Plan | Land | Cambridge, MA | — | — | — | 2,207 | — | — | 2,207 | — | 2,207 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| Weston Quarry | Land | Weston, MA | — | — | — | 1,194 | — | — | 1,194 | — | 1,194 | — | N/A | 2001 | N/A | |||||||||||||||||||||||||||||||||||||
| Reston Overlook Master Plan | Land | Reston, VA | — | — | — | 39 | — | — | 39 | — | 39 | — | N/A | 2000 | N/A | |||||||||||||||||||||||||||||||||||||
| $ | 2,979,281 | (2 | ) | $ | 4,762,002 | $ | 11,634,050 | $ | 4,662,662 | $ | 5,080,679 | $ | 14,503,772 | $ | 204,925 | (3 | ) | $ | 1,269,338 | $ | 21,058,714 | $ | 4,566,570 |
Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $37,928. Accumulated Depreciation does not include approximately $23,064 of accumulated depreciation related to Furniture, Fixtures and Equipment.
The aggregate cost and accumulated depreciation for tax purposes was approximately $17.3 billion and $3.6 billion, respectively.
| (1) | Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years. |
| (2) | Includes unamortized deferred financing costs totaling approximately $(34.7) million. |
| (3) | Includes pre-development costs. |
Boston Properties, Inc.
Real Estate and Accumulated Depreciation
December 31, 2017, 2016 and 2015
(dollars in thousands)
A summary of activity for real estate and accumulated depreciation is as follows:
| 2017 | 2016 | 2015 | ||||||||||
| Real Estate: | ||||||||||||
| Balance at the beginning of the year | $ | 20,114,576 | $ | 19,451,683 | $ | 19,208,417 | ||||||
| Additions to/improvements of real estate | 1,099,286 | 977,287 | 700,792 | |||||||||
| Assets sold/written-off | (155,148 | ) | (314,394 | ) | $ | (457,526 | ) | |||||
| Balance at the end of the year | $ | 21,058,714 | $ | 20,114,576 | $ | 19,451,683 | ||||||
| Accumulated Depreciation: | ||||||||||||
| Balance at the beginning of the year | $ | 4,201,891 | $ | 3,905,940 | $ | 3,529,978 | ||||||
| Depreciation expense | 497,059 | 560,024 | 486,450 | |||||||||
| Assets sold/written-off | (132,380 | ) | (264,073 | ) | (110,488 | ) | ||||||
| Balance at the end of the year | $ | 4,566,570 | $ | 4,201,891 | $ | 3,905,940 |
Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.
| Boston Properties Limited Partnership Schedule III—Real Estate and Accumulated Depreciation December 31, 2017 (dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Original | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Building and Improvements | Land Held for Development | Development and Construction in Progress | Total | Accumulated Depreciation | Year(s) Built/ Renovated | Year(s) Acquired | Depreciable Lives (Years) | ||||||||||||||||||||||||||||||||||||||||||
| Property Name | Type | Location | Encumbrances | Land | Building | |||||||||||||||||||||||||||||||||||||||||||||||
| 767 Fifth Avenue (the General Motors Building) | Office | New York, NY | $ | 2,267,041 | $ | 1,796,252 | $ | 1,532,654 | $ | 135,559 | $ | 1,796,252 | $ | 1,668,213 | $ | — | $ | — | $ | 3,464,465 | $ | 222,981 | 1968 | 2013 | (1) | |||||||||||||||||||||||||||
| Prudential Center | Office | Boston, MA | — | 92,077 | 948,357 | 441,339 | 100,540 | 1,381,233 | — | — | 1,481,773 | 497,960 | 1965/1993/2002/2016-2017 | 1998/1999/2000 | (1) | |||||||||||||||||||||||||||||||||||||
| Embarcadero Center | Office | San Francisco, CA | — | 179,697 | 847,410 | 304,399 | 180,420 | 1,151,086 | — | — | 1,331,506 | 581,932 | 1970/1989 | 1998-1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 399 Park Avenue | Office | New York, NY | — | 339,200 | 700,358 | 121,810 | 339,200 | 822,168 | — | — | 1,161,368 | 296,763 | 1961 | 2002 | (1) | |||||||||||||||||||||||||||||||||||||
| 200 Clarendon Street and Garage | Office | Boston, MA | — | 219,543 | 667,884 | 139,189 | 219,616 | 799,991 | 7,009 | — | 1,026,616 | 161,471 | 1976 | 2010 | (1) | |||||||||||||||||||||||||||||||||||||
| 601 Lexington Avenue | Office | New York, NY | 672,142 | 241,600 | 494,782 | 253,504 | 279,281 | 607,406 | — | 103,199 | 989,886 | 246,814 | 1977/1997 | 2001 | (1) | |||||||||||||||||||||||||||||||||||||
| 250 West 55th Street | Office | New York, NY | — | 285,263 | 603,167 | 43,296 | 285,263 | 646,463 | — | — | 931,726 | 72,058 | 2014 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| 100 Federal Street | Office | Boston, MA | — | 131,067 | 435,954 | 79,035 | 131,067 | 514,989 | — | — | 646,056 | 97,630 | 1971-1975/2017 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| Carnegie Center | Office | Princeton, NJ | — | 107,997 | 389,359 | 140,642 | 104,617 | 530,527 | 2,854 | — | 637,998 | 224,256 | 1983-2016 | 1998/1999/2000/2007/2014/2017 | (1) | |||||||||||||||||||||||||||||||||||||
| Times Square Tower | Office | New York, NY | — | 165,413 | 380,438 | 49,071 | 159,694 | 435,228 | — | — | 594,922 | 182,850 | 2004 | 2000 | (1) | |||||||||||||||||||||||||||||||||||||
| Atlantic Wharf | Office | Boston, MA | — | 63,988 | 454,537 | 17,473 | 63,988 | 472,010 | — | — | 535,998 | 101,525 | 2011 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Fountain Square | Office | Reston, VA | — | 56,853 | 306,298 | 17,834 | 56,853 | 320,474 | 3,658 | — | 380,985 | 60,098 | 1986-1990 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| 510 Madison Avenue | Office | New York, NY | — | 103,000 | 253,665 | 23,875 | 103,000 | 277,540 | — | — | 380,540 | 54,056 | 2012 | 2010 | (1) | |||||||||||||||||||||||||||||||||||||
| 599 Lexington Avenue | Office | New York, NY | — | 81,040 | 100,507 | 138,108 | 81,040 | 238,615 | — | — | 319,655 | 159,586 | 1986 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 680 Folsom Street | Office | San Francisco, CA | — | 72,545 | 219,766 | 7,545 | 72,545 | 227,311 | — | — | 299,856 | 30,577 | 2014 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| South of Market and Democracy Tower | Office | Reston, VA | — | 13,603 | 237,479 | 14,655 | 13,603 | 252,134 | — | — | 265,737 | 87,651 | 2008-2009 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| 601 Massachusetts Avenue | Office | Washington, DC | — | 95,310 | 165,173 | 2,341 | 95,310 | 167,514 | — | — | 262,824 | 12,177 | 2016 | 2008 | (1) | |||||||||||||||||||||||||||||||||||||
| Bay Colony Corporate Center | Office | Waltham, MA | — | 18,789 | 148,451 | 73,418 | 18,789 | 221,869 | — | — | 240,658 | 57,320 | 1985-1989 | 2011 | (1) | |||||||||||||||||||||||||||||||||||||
| Gateway Center | Office | San Francisco, CA | — | 28,255 | 139,245 | 52,630 | 29,029 | 191,101 | — | — | 220,130 | 101,191 | 1984/1986/2002 | 1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 535 Mission Street | Office | San Francisco, CA | — | 40,933 | 148,378 | 3,259 | 40,933 | 151,637 | — | — | 192,570 | 14,637 | 2015 | 2013 | (1) | |||||||||||||||||||||||||||||||||||||
| 2200 Pennsylvania Avenue | Office | Washington, DC | — | — | 183,541 | 4,907 | — | 188,448 | — | — | 188,448 | 46,780 | 2011 | 2008 | (1) | |||||||||||||||||||||||||||||||||||||
| Mountain View Research Park | Office | Mountain View, CA | — | 95,066 | 68,373 | 8,136 | 95,066 | 76,509 | — | — | 171,575 | 15,146 | 1977-1981/2007-2013 | 2013 | (1) | |||||||||||||||||||||||||||||||||||||
| Reservoir Place | Office | Waltham, MA | — | 18,605 | 104,124 | 39,180 | 19,089 | 142,820 | — | — | 161,909 | 65,309 | 1955/1987/2017 | 1997/1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 1330 Connecticut Avenue | Office | Washington, DC | — | 25,982 | 82,311 | 28,226 | 25,982 | 110,537 | — | — | 136,519 | 21,484 | 1984 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| Kingstowne Towne Center | Office | Alexandria, VA | — | 18,021 | 109,038 | 1,207 | 18,021 | 110,245 | — | — | 128,266 | 39,018 | 2003-2006 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| 1333 New Hampshire Avenue | Office | Washington, DC | — | 34,032 | 85,660 | 6,079 | 34,032 | 91,739 | — | — | 125,771 | 39,279 | 1996 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| One Freedom Square | Office | Reston, VA | — | 9,929 | 84,504 | 26,981 | 9,883 | 111,531 | — | — | 121,414 | 49,037 | 2000 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| Weston Corporate Center | Office | Weston, MA | — | 25,753 | 92,312 | (123 | ) | 25,854 | 92,088 | — | — | 117,942 | 23,125 | 2010 | 2001 | (1) | ||||||||||||||||||||||||||||||||||||
| Capital Gallery | Office | Washington, DC | — | 4,725 | 29,565 | 79,383 | 6,128 | 107,545 | — | — | 113,673 | 63,717 | 1981/2006 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Two Freedom Square | Office | Reston, VA | — | 13,930 | 77,739 | 17,167 | 13,866 | 94,970 | — | — | 108,836 | 46,532 | 2001 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| One and Two Reston Overlook | Office | Reston, VA | — | 16,456 | 66,192 | 20,693 | 15,074 | 88,267 | — | — | 103,341 | 43,627 | 1999 | 2000 | (1) |
| Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2017 (dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Original | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Building and Improvements | Land Held for Development | Development and Construction in Progress | Total | Accumulated Depreciation | Year(s) Built/ Renovated | Year(s) Acquired | Depreciable Lives (Years) | ||||||||||||||||||||||||||||||||||||||||||
| Property Name | Type | Location | Encumbrances | Land | Building | |||||||||||||||||||||||||||||||||||||||||||||||
| Discovery Square | Office | Reston, VA | — | 11,198 | 71,782 | 18,869 | 11,146 | 90,703 | — | — | 101,849 | 41,928 | 2001 | 2003 | (1) | |||||||||||||||||||||||||||||||||||||
| 355 Main Street | Office | Cambridge, MA | — | 18,863 | 53,346 | 27,152 | 21,098 | 78,263 | — | — | 99,361 | 26,850 | 1981/1996/2013 | 2006 | (1) | |||||||||||||||||||||||||||||||||||||
| 140 Kendrick Street | Office | Needham, MA | — | 18,095 | 66,905 | 13,502 | 18,095 | 80,407 | — | — | 98,502 | 28,111 | 2000 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| 10 CityPoint | Office | Waltham, MA | — | 1,953 | 85,752 | 2,670 | 1,953 | 88,422 | — | — | 90,375 | 4,673 | 2016 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 90 Broadway | Office | Cambridge, MA | — | 19,104 | 52,078 | 17,001 | 20,741 | 67,442 | — | — | 88,183 | 19,220 | 1983/1998/2013 | 2006 | (1) | |||||||||||||||||||||||||||||||||||||
| 230 CityPoint | Office | Waltham, MA | — | 13,189 | 49,823 | 23,619 | 13,189 | 73,442 | — | — | 86,631 | 26,200 | 1992 | 2005 | (1) | |||||||||||||||||||||||||||||||||||||
| 77 CityPoint | Office | Waltham, MA | — | 13,847 | 60,383 | 5,598 | 13,847 | 65,981 | — | — | 79,828 | 23,024 | 2008 | 2001 | (1) | |||||||||||||||||||||||||||||||||||||
| Waltham Weston Corporate Center | Office | Waltham, MA | — | 10,385 | 60,694 | 8,043 | 10,350 | 68,772 | — | — | 79,122 | 29,359 | 2003 | 1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 3625-3635 Peterson Way | Office | Santa Clara, CA | — | 63,206 | 14,879 | 138 | 63,206 | 14,879 | 138 | — | 78,223 | 5,120 | 1979 | 2016 | (1) | |||||||||||||||||||||||||||||||||||||
| North First Business Park | Office | San Jose, CA | — | 58,402 | 13,069 | 4,393 | 23,371 | 16,583 | 35,910 | — | 75,864 | 15,839 | 1981 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| 300 Binney Street | Office | Cambridge, MA | — | 18,080 | 51,262 | 140 | 18,080 | 51,402 | — | — | 69,482 | 7,755 | 2013 | 2009 | (1) | |||||||||||||||||||||||||||||||||||||
| 2440 West El Camino Real | Office | Mountain View, CA | — | 16,741 | 51,285 | 1,287 | 16,741 | 52,572 | — | — | 69,313 | 10,790 | 1987/2003 | 2011 | (1) | |||||||||||||||||||||||||||||||||||||
| Wisconsin Place | Office | Chevy Chase, MD | — | — | 53,349 | 14,907 | — | 68,256 | — | — | 68,256 | 19,775 | 2009 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| Reston Corporate Center | Office | Reston, VA | — | 9,135 | 50,857 | 3,625 | 9,496 | 54,121 | — | — | 63,617 | 26,178 | 1984 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| New Dominion Technology Park, Bldg. Two | Office | Herndon, VA | — | 5,584 | 51,868 | 412 | 5,574 | 52,290 | — | — | 57,864 | 22,801 | 2004 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 200 West Street | Office | Waltham, MA | — | 16,148 | 24,983 | 8,012 | 16,148 | 32,995 | — | — | 49,143 | 20,538 | 1999 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| New Dominion Technology Park, Bldg. One | Office | Herndon, VA | 32,691 | 3,880 | 43,227 | 1,072 | 3,880 | 44,299 | — | — | 48,179 | 25,304 | 2001 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| Sumner Square | Office | Washington, DC | — | 624 | 28,745 | 16,920 | 958 | 45,331 | — | — | 46,289 | 23,103 | 1985 | 1999 | (1) | |||||||||||||||||||||||||||||||||||||
| 255 Main Street | Office | Cambridge, MA | — | 134 | 25,110 | 19,927 | 134 | 45,037 | — | — | 45,171 | 27,878 | 1987 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| University Place | Office | Cambridge, MA | 7,407 | — | 37,091 | 7,557 | 27 | 44,621 | — | — | 44,648 | 25,971 | 1985 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 2600 Tower Oaks Boulevard | Office | Rockville, MD | — | 4,243 | 31,125 | 7,704 | 4,244 | 38,828 | — | — | 43,072 | 20,529 | 2001 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| Quorum Office Park | Office | Chelmsford, MA | — | 3,750 | 32,454 | 4,115 | 4,762 | 35,557 | — | — | 40,319 | 16,211 | 2001 | 2000 | (1) | |||||||||||||||||||||||||||||||||||||
| 500 E Street | Office | Washington, DC | — | 109 | 22,420 | 11,503 | 1,569 | 32,463 | — | — | 34,032 | 23,051 | 1987 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 150 Broadway | Office | Cambridge, MA | — | 850 | 25,042 | 6,535 | 822 | 31,605 | — | — | 32,427 | 16,477 | 1999 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 325 Main Street | Office | Cambridge, MA | — | 174 | 12,200 | 11,192 | 772 | 22,794 | — | — | 23,566 | 12,675 | 1987/2013 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 105 Broadway | Office | Cambridge, MA | — | 1,299 | 12,943 | 6,108 | 1,868 | 18,482 | — | — | 20,350 | 13,015 | 1990 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| Lexington Office Park | Office | Lexington, MA | — | 998 | 1,426 | 17,455 | 1,073 | 18,806 | — | — | 19,879 | 13,235 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 201 Spring Street | Office | Lexington, MA | — | 2,849 | 15,303 | (405 | ) | 2,849 | 14,898 | — | — | 17,747 | 7,681 | 1997 | 1997 | (1) | ||||||||||||||||||||||||||||||||||||
| The Point | Office | Waltham, MA | — | 6,395 | 10,040 | 409 | 6,480 | 10,364 | — | — | 16,844 | 714 | 2015 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| 690 Folsom Street | Office | San Francisco, CA | — | 3,219 | 11,038 | 1,157 | 3,219 | 12,195 | — | — | 15,414 | 1,295 | 2015 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| 91 Hartwell Avenue | Office | Lexington, MA | — | 784 | 6,464 | 7,642 | 784 | 14,106 | — | — | 14,890 | 9,705 | 1985 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 92-100 Hayden Avenue | Office | Lexington, MA | — | 594 | 6,748 | 7,452 | 619 | 14,175 | — | — | 14,794 | 12,329 | 1985 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 181 Spring Street | Office | Lexington, MA | — | 1,066 | 9,520 | 1,941 | 1,066 | 11,461 | — | — | 12,527 | 5,109 | 1999 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 195 West Street | Office | Waltham, MA | — | 1,611 | 6,652 | 3,351 | 1,611 | 10,003 | — | — | 11,614 | 7,736 | 1990 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 33 Hayden Avenue | Office | Lexington, MA | — | 266 | 3,234 | 7,744 | 266 | 10,978 | — | — | 11,244 | 8,067 | 1979 | 1997 | (1) |
| Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2017 (dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Original | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Building and Improvements | Land Held for Development | Development and Construction in Progress | Total | Accumulated Depreciation | Year(s) Built/ Renovated | Year(s) Acquired | Depreciable Lives (Years) | ||||||||||||||||||||||||||||||||||||||||||
| Property Name | Type | Location | Encumbrances | Land | Building | |||||||||||||||||||||||||||||||||||||||||||||||
| 7501 Boston Boulevard, Building Seven | Office | Springfield, VA | — | 665 | 9,273 | 314 | 665 | 9,587 | — | — | 10,252 | 4,732 | 1997 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 250 Binney Street | Office | Cambridge, MA | — | 110 | 4,483 | 2,939 | 110 | 7,422 | — | — | 7,532 | 4,922 | 1983 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7435 Boston Boulevard, Building One | Office | Springfield, VA | — | 392 | 3,822 | 3,304 | 486 | 7,032 | — | — | 7,518 | 5,354 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 8000 Grainger Court, Building Five | Office | Springfield, VA | — | 366 | 4,282 | 2,781 | 453 | 6,976 | — | — | 7,429 | 5,511 | 1984 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7450 Boston Boulevard, Building Three | Office | Springfield, VA | — | 1,165 | 4,681 | 1,359 | 1,327 | 5,878 | — | — | 7,205 | 3,354 | 1987 | 1998 | (1) | |||||||||||||||||||||||||||||||||||||
| 453 Ravendale Drive | Office | Mountain View, CA | — | 5,477 | 1,090 | 408 | 5,477 | 1,498 | — | — | 6,975 | 472 | 1977 | 2012 | (1) | |||||||||||||||||||||||||||||||||||||
| 17 Hartwell Avenue | Office | Lexington, MA | — | 26 | 150 | 6,095 | 26 | 6,245 | — | — | 6,271 | 1,062 | 1968 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7300 Boston Boulevard, Building Thirteen | Office | Springfield, VA | — | 608 | 4,773 | 497 | 608 | 5,270 | — | — | 5,878 | 2,737 | 2002 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7601 Boston Boulevard, Building Eight | Office | Springfield, VA | — | 200 | 878 | 4,359 | 378 | 5,059 | — | — | 5,437 | 4,107 | 1986 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7500 Boston Boulevard, Building Six | Office | Springfield, VA | — | 138 | 3,749 | 1,122 | 273 | 4,736 | — | — | 5,009 | 3,845 | 1985 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 8000 Corporate Court, Building Eleven | Office | Springfield, VA | — | 136 | 3,071 | 1,245 | 686 | 3,766 | — | — | 4,452 | 2,826 | 1989 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7375 Boston Boulevard, Building Ten | Office | Springfield, VA | — | 23 | 2,685 | 757 | 47 | 3,418 | — | — | 3,465 | 2,532 | 1988 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7374 Boston Boulevard, Building Four | Office | Springfield, VA | — | 241 | 1,605 | 1,530 | 303 | 3,073 | — | — | 3,376 | 2,494 | 1984 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 7451 Boston Boulevard, Building Two | Office | Springfield, VA | — | 249 | 1,542 | 1,346 | 535 | 2,602 | — | — | 3,137 | 2,357 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 32 Hartwell Avenue | Office | Lexington, MA | — | 168 | 1,943 | 426 | 168 | 2,369 | — | — | 2,537 | 1,840 | 1968/1979/1987 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 164 Lexington Road | Office | Billerica, MA | — | 592 | 1,370 | 117 | 592 | 1,487 | — | — | 2,079 | 819 | 1982 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| The Avant at Reston Town Center | Residential | Reston, VA | — | 20,350 | 91,995 | 830 | 20,350 | 92,825 | — | — | 113,175 | 9,780 | 2014 | 2010 | (1) | |||||||||||||||||||||||||||||||||||||
| The Lofts at Atlantic Wharf | Residential | Boston, MA | — | 3,529 | 54,891 | 1,768 | 3,529 | 56,659 | — | — | 60,188 | 9,622 | 2011 | 2007 | (1) | |||||||||||||||||||||||||||||||||||||
| Boston Marriott Cambridge | Hotel | Cambridge, MA | — | 478 | 37,918 | 35,908 | 478 | 73,826 | — | — | 74,304 | 47,101 | 1986 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| Kendall Center Green Garage | Garage | Cambridge, MA | — | — | 35,035 | 7,034 | — | 42,069 | — | — | 42,069 | 10,687 | 1984 | 2006 | (1) | |||||||||||||||||||||||||||||||||||||
| Kendall Center Yellow Garage | Garage | Cambridge, MA | — | 1,256 | 15,697 | 909 | 1,256 | 16,606 | — | — | 17,862 | 5,024 | 2006 | 2004 | (1) | |||||||||||||||||||||||||||||||||||||
| Kendall Center Blue Garage | Garage | Cambridge, MA | — | 1,163 | 11,633 | 618 | 1,163 | 12,251 | — | — | 13,414 | 8,834 | 1990 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| Salesforce Tower | Development | San Francisco, CA | — | — | — | 947,106 | 200,349 | 55,318 | — | 691,439 | 947,106 | 116 | N/A | 2013 | N/A | |||||||||||||||||||||||||||||||||||||
| Signature at Reston | Development | Reston, VA | — | — | — | 203,650 | — | — | — | 203,650 | 203,650 | — | N/A | 2013 | N/A | |||||||||||||||||||||||||||||||||||||
| Proto Kendall Square | Development | Cambridge, MA | — | — | — | 82,905 | — | — | — | 82,905 | 82,905 | — | N/A | 2015 | N/A | |||||||||||||||||||||||||||||||||||||
| 145 Broadway | Development | Cambridge, MA | — | 121 | — | 79,776 | 121 | — | — | 79,776 | 79,897 | — | NA | 1997 | N/A | |||||||||||||||||||||||||||||||||||||
| 191 Spring Street | Development | Lexington, MA | — | 2,850 | 27,166 | 34,542 | 2,850 | 45,957 | — | 15,751 | 64,558 | 18,934 | 1971/1995 | 1997 | (1) | |||||||||||||||||||||||||||||||||||||
| 6595 Springfield Center Drive (TSA Headquarters) | Development | Springfield, VA | — | — | — | 41,918 | — | — | — | 41,918 | 41,918 | — | N/A | 2007 | N/A |
| Boston Properties Limited Partnership Schedule 3—Real Estate and Accumulated Depreciation December 31, 2017 (dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Original | Costs Capitalized Subsequent to Acquisition | Land and Improvements | Building and Improvements | Land Held for Development | Development and Construction in Progress | Total | Accumulated Depreciation | Year(s) Built/ Renovated | Year(s) Acquired | Depreciable Lives (Years) | ||||||||||||||||||||||||||||||||||||||||||
| Property Name | Type | Location | Encumbrances | Land | Building | |||||||||||||||||||||||||||||||||||||||||||||||
| MacArthur Station Residences | Development | Oakland, CA | — | — | — | 37,644 | — | — | — | 37,644 | 37,644 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| 20 CityPoint | Development | Waltham, MA | — | — | — | 13,056 | — | — | — | 13,056 | 13,056 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| Tower Oaks Master Plan | Land | Rockville, MD | — | — | — | 29,419 | — | — | 29,419 | — | 29,419 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| Plaza at Almaden | Land | San Jose, CA | — | — | — | 29,085 | — | — | 29,085 | — | 29,085 | — | N/A | 2006 | N/A | |||||||||||||||||||||||||||||||||||||
| Springfield Metro Center | Land | Springfield, VA | — | — | — | 19,684 | — | — | 19,684 | — | 19,684 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| 214 Third Avenue | Land | Waltham, MA | — | — | — | 13,815 | — | — | 13,815 | — | 13,815 | — | N/A | 2006 | N/A | |||||||||||||||||||||||||||||||||||||
| Reston Gateway | Land | Reston, VA | — | — | — | 13,730 | — | — | 13,730 | — | 13,730 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| 103 Fourth Avenue | Land | Waltham, MA | — | — | — | 12,115 | — | — | 12,115 | — | 12,115 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| Crane Meadow | Land | Marlborough, MA | — | — | — | 8,836 | — | — | 8,836 | — | 8,836 | — | N/A | 2000 | N/A | |||||||||||||||||||||||||||||||||||||
| Washingtonian North | Land | Gaithersburg, MD | — | — | — | 7,645 | — | — | 7,645 | — | 7,645 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| 2100 Pennsylvania Avenue | Land | Washington, DC | — | — | — | 6,543 | — | — | 6,543 | — | 6,543 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| Fourth and Harrison | Land | San Francisco, CA | — | — | — | 5,659 | — | — | 5,659 | — | 5,659 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| North First Master Plan | Land | San Jose, CA | — | — | — | 3,018 | — | — | 3,018 | — | 3,018 | — | N/A | 2007 | N/A | |||||||||||||||||||||||||||||||||||||
| Broad Run Business Park | Land | Loudoun County, VA | — | — | — | 2,367 | — | — | 2,367 | — | 2,367 | — | N/A | 1998 | N/A | |||||||||||||||||||||||||||||||||||||
| Kendall Center Master Plan | Land | Cambridge, MA | — | — | — | 2,207 | — | — | 2,207 | — | 2,207 | — | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||||||
| Weston Quarry | Land | Weston, MA | — | — | — | 1,194 | — | — | 1,194 | — | 1,194 | — | N/A | 2001 | N/A | |||||||||||||||||||||||||||||||||||||
| Reston Overlook Master Plan | Land | Reston, VA | — | — | — | 39 | — | — | 39 | — | 39 | — | N/A | 2000 | N/A | |||||||||||||||||||||||||||||||||||||
| $ | 2,979,281 | (2 | ) | $ | 4,762,002 | $ | 11,634,050 | $ | 4,251,184 | $ | 4,976,303 | $ | 14,196,670 | $ | 204,925 | (3 | ) | $ | 1,269,338 | $ | 20,647,236 | $ | 4,473,895 | |||||||||||||||||||||||||||||
Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $37,928. Accumulated Depreciation does not include approximately $23,064 of accumulated depreciation related to Furniture, Fixtures and Equipment.
The aggregate cost and accumulated depreciation for tax purposes was approximately $19.3 billion and $4.1 billion, respectively.
| (1) | Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years. |
| (2) | Includes unamortized deferred financing costs totaling approximately $(34.7) million. |
| (3) | Includes pre-development costs. |
Boston Properties Limited Partnership
Real Estate and Accumulated Depreciation
December 31, 2017, 2016 and 2015
(dollars in thousands)
A summary of activity for real estate and accumulated depreciation is as follows:
| 2017 | 2016 | 2015 | ||||||||||
| Real Estate: | ||||||||||||
| Balance at the beginning of the year | $ | 19,701,185 | $ | 19,031,289 | $ | 18,786,572 | ||||||
| Additions to/improvements of real estate | 1,099,286 | 977,287 | 700,792 | |||||||||
| Assets sold/written-off | (153,235 | ) | (307,391 | ) | (456,075 | ) | ||||||
| Balance at the end of the year | $ | 20,647,236 | $ | 19,701,185 | $ | 19,031,289 | ||||||
| Accumulated Depreciation: | ||||||||||||
| Balance at the beginning of the year | $ | 4,116,020 | $ | 3,826,862 | $ | 3,458,640 | ||||||
| Depreciation expense | 488,919 | 548,397 | 478,457 | |||||||||
| Assets sold/written-off | (131,044 | ) | (259,239 | ) | (110,235 | ) | ||||||
| Balance at the end of the year | $ | 4,473,895 | $ | 4,116,020 | $ | 3,826,862 |
Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.
(b) Exhibits
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