BXP (BXP) risk factors: FY2025 10-K

1. Our performance depends upon the economic conditions, particularly the supply and demand characteristics, of our markets—Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC.
2. Market and economic volatility due to adverse economic and political conditions, health crises or dislocations in the credit markets could have a material adverse effect on our results of operations, financial condition and ability to pay dividends and/or distributions.
3. Our success depends on key personnel whose continued service is not guaranteed.

Read these in Item 1A · See the changes

1. Our performance and value are subject to risks associated with our real estate assets and with the real estate industry.
2. We face potential adverse effects from major clients’ bankruptcies or insolvencies.
3. Our properties face significant competition.
4. We face potential difficulties or delays renewing leases or re-leasing space.
5. Our actual costs to develop properties may exceed our budgeted costs.
6. Investment returns from our developed properties may be less than anticipated.
7. We face risks associated with the development of mixed-use commercial and residential properties.
8. Our use of joint ventures may limit our control over jointly owned investments and limit our flexibility to acquire other assets.reworded
9. We face the risk that third parties will not be able to service or repay loans we make to them.
10. We face risks associated with property acquisitions.
11. Acquired properties may expose us to unknown liability.
12. Competition for acquisitions may result in increased prices for properties.
13. We may have difficulty selling our properties, which may limit our flexibility.
14. Because we own a hotel property, we face the risks associated with the hospitality industry.
15. Failure to comply with Federal Government contractor requirements could result in substantial costs and loss of substantial revenue.
16. Changes in rent control or rent stabilization and eviction laws and regulations in our markets could have a material adverse effect on our residential portfolio’s results of operations and residential property values.
17. We did not obtain new owner’s title insurance policies in connection with properties acquired during BXP’s initial public offering.
18. Some potential losses are not covered by insurance.
19. Actual or threatened terrorist attacks or other criminal acts may adversely affect our ability to generate revenues and the value of our properties.reworded
20. We face risks associated with security breaches, incidents and compromises through cyber-attacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology (IT) networks and related systems.Cybersecurity
21. The use of technology based on artificial intelligence and machine learning presents risks and challenges that may adversely affect our business and results of operations.AI
22. We face risks associated with our clients and contractual counterparties being designated “Prohibited Persons” by the Office of Foreign Assets Control.
23. The outbreak of highly infectious or contagious diseases could adversely impact or cause disruption to our financial condition, results of operations, cash flows and liquidity and that of our clients.
24. We face risks associated with climate change and severe weather events, as well as the regulatory efforts intended to reduce the effects of climate change.
25. Potential liability for environmental contamination could result in substantial costs.
26. Compliance or failure to comply with the Americans with Disabilities Act or other safety regulations and requirements could result in substantial costs.
27. Any future international activities will be subject to special risks and we may not be able to effectively manage our international business.
28. We may be subject to risks from potential fluctuations in exchange rates between the U.S. dollar and the currencies of the other countries in which we invest.

Read these in Item 1A · See the changes

1. Our maturing debt bears interest at lower rates than the current market rates, which has increased, and may continue to increase our interest costs which could adversely impact our ability to refinance existing debt or sell assets on favorable terms or at all.new
2. Covenants in our debt agreements could adversely affect our financial condition.
3. We face risks associated with the use of debt to fund acquisitions and developments, including refinancing risk.
4. Our degree of leverage could limit our ability to obtain additional financing or affect the market price of our equity and debt securities.
5. We face risks associated with short-term liquid investments.

Read these in Item 1A · See the changes

1. Conflicts of interest exist with holders of interests in BPLP.
2. Sales of properties and repayment of related indebtedness will have different effects on holders of interests in BPLP than on BXP’s stockholders.
3. Agreement not to sell some properties.
4. Limits on changes in control may discourage takeover attempts beneficial to stockholders.

Read these in Item 1A · See the changes

1. We may change our policies without obtaining the approval of our stockholders.

Read these in Item 1A · See the changes

1. Failure to qualify as a REIT would cause BXP to be taxed as a corporation, which would substantially reduce funds available for payment of dividends.
2. In order to maintain BXP’s REIT status, we may be forced to borrow funds during unfavorable market conditions.
3. We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
4. We face possible adverse state and local tax audits and changes in state and local tax laws.

Read these in Item 1A · See the changes

1. Changes in market conditions could adversely affect the market price of BXP’s common stock.
2. Further issuances of equity securities may be dilutive to current securityholders.
3. The number of shares available for future sale could adversely affect the market price of BXP’s stock.
4. Our involvement in legal proceedings and other claims may result in substantial monetary and other costs that have a material adverse effect on our results of operations.
5. Changes in accounting pronouncements could adversely affect our operating results, in addition to the reported financial performance of our clients.

Read these in Item 1A · See the changes

Headings in the FY2024 10-K with no match this year.

1. Elevated interest rates have, and may continue to increase our interest costs on variable rate debt and could adversely impact our ability to refinance existing debt or sell assets on favorable terms or at all.