17 unchanged sentences
We believe that our insider trading policy is reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing standards applicable to BXP, Inc.
−Removed: A copy of the insider trading policy is filed as Exhibit 19.1 to this Annual Report on Form 10-K.
+Added: A copy of the insider trading policy is incorporated by reference as Exhibit 19.1 to this Annual Report on Form 10-K.
The other information required by Item 10 will be included in the Proxy Statement to be filed relating to BXP, Inc.’s 2026 Annual Meeting of Stockholders and is incorporated herein by reference.
12 unchanged sentences
(1) Includes information related to BXP’s 1997 Stock Option and Incentive Plan, 2012 Stock Option and Incentive Plan and 2021 Stock Incentive Plan.
−Removed: (2) Includes (a) 2,335,229 long term incentive units (LTIP units) (1,567,004 of which are vested) that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (b) 1,706,818 common units issued upon conversion of LTIP units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (c) 252,151 2022 MYLTIP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (d) 322,053 2023 MYLTIP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (e) 330,479 2024 MYLTIP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock and (f) 128,227 deferred stock units which were granted pursuant to elections by certain of BXP’s non-employee directors to defer all cash compensation to be paid to such directors and to receive their deferred cash compensation in shares of BXP’s common stock upon their retirement from its Board of Directors.
+Added: (2) Includes (a) 2,662,140 long term incentive units (LTIP units) (1,806,093 of which are vested) that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (b) 1,769,588 common units issued upon conversion of LTIP units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (c) 322,053 2023 MYLTIP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (d) 330,479 2024 MYLTIP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (e) 354,940 2025 MYLTIP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock, (f) 711,864 2025 OPP Awards that, upon the satisfaction of certain conditions, are convertible into common units, which may be presented to BPLP for redemption and acquired by BXP for shares of its common stock and (g) 111,701 deferred stock units which were granted pursuant to elections by certain of BXP’s non-employee directors to defer all cash compensation to be paid to such directors and to receive their deferred cash compensation in shares of BXP’s common stock upon their retirement from its Board of Directors.
Does not include 147,221 shares of restricted stock, as they have been reflected in BXP’s total shares outstanding.
−Removed: Because there is no exercise price associated with LTIP units, common units, 2022 MYLTIP Awards, 2023 MYLTIP Awards, 2024 MYLTIP Awards or deferred stock units, such shares are not included in the weighed-average exercise price calculation.
−Removed: (3) Represents awards available for issuance under BXP’s 2021 Stock Incentive Plan.
+Added: Because there is no exercise price associated with LTIP units, common units, 2023 MYLTIP Awards, 2024 MYLTIP Awards, 2025 MYLTIP Awards, 2025 OPP Awards or deferred stock units, such shares are not included in the weighed-average exercise price calculation.
+Added: (3) Represents shares available for issuance under BXP’s 2021 Stock Incentive Plan.
(4) Includes information related to the 1999 Non-Qualified Employee Stock Purchase Plan (ESPP).
24 unchanged sentences
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)
−Removed: 7 Times Square (formerly Times Square Tower) Office New York, NY — 165,413 380,438 149,990 169,193 526,648 — — 695,841 264,411 2004 2000 (1)
+Added: 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)
−Removed: Carnegie Center Office Princeton, NJ — 142,666 316,856 184,814 94,243 491,116 58,977 — 644,336 279,961 1983-2016 1998/1999/2000/2007/2014/2017/2019 (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)
+Added: 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)
6 unchanged sentences
680 Folsom Street Office San Francisco, CA — 72,545 219,766 18,167 72,545 237,933 — — 310,478 92,143 2014 2012 (1)
−Removed: 145 Broadway Office Cambridge, MA — 121 273,013 26,980 23,367 276,747 — — 300,114 43,888 2019 1997 (1)
2200 Pennsylvania Avenue Office Washington, DC — — 183,541 125,161 100,592 208,110 — — 308,702 83,117 2011 2008 (1)
+Added: 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)
1 unchanged sentence
535 Mission Street Office San Francisco, CA — 40,933 148,378 14,409 40,934 162,786 — — 203,720 53,063 2015 2013 (1)
+Added: 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)
Schedule 3—Real Estate and Accumulated Depreciation
2 unchanged sentences
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)
−Removed: Land Building
−Removed: Mountain View Research Park Office Mountain View, CA — 95,066 68,373 21,315 95,066 89,688 — — 184,754 37,048 1977-1981/2007-2013 2013 (1)
−Removed: Reservoir Place Office Waltham, MA — 18,605 104,124 55,829 20,108 158,450 — — 178,558 91,828 1955/1987/2017 1997/1998 (1)
−Removed: 140 Kendrick Street Office Needham, MA — 18,095 66,905 72,615 19,092 138,523 — — 157,615 52,387 2000/2023 2004 (1)
+Added: 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)
+Added: 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)
−Removed: 1330 Connecticut Avenue Office Washington, DC — 25,982 82,311 39,773 27,135 120,931 — — 148,066 58,777 1984/2018 2004 (1)
+Added: 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)
−Removed: One and Two Reston Overlook Office Reston, VA — 16,456 66,192 49,596 16,179 116,065 — — 132,244 64,247 1999 2000 (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)
+Added: 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)
+Added: 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)
−Removed: Shady Grove Innovation District
−Removed: Office Rockville, MD — 52,030 64,212 ( 284 ) 26,834 35,014 54,110 — 115,958 5,526 1968-1985 2021 (1)
−Removed: 355 Main Street Office Cambridge, MA 594,869 18,863 53,346 41,772 21,173 92,808 — — 113,981 39,649 1981/1996/2013 2006 (1)
17Fifty Presidents Street Office Reston, VA — — 113,362 162 — 113,524 — — 113,524 25,408 2020 2013 (1)
−Removed: 10 CityPoint Office Waltham, MA — 1,953 85,752 7,023 2,288 92,440 — — 94,728 26,693 2016 1997 (1)
+Added: 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)
−Removed: 90 Broadway Office Cambridge, MA — (2) 19,104 52,078 22,168 20,785 72,565 — — 93,350 33,396 1983/1998/2013 2006 (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)
+Added: 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)
+Added: 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)
+Added: Shady Grove Innovation District
+Added: 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)
−Removed: Reston Corporate Center Office Reston, VA — 9,135 50,857 4,489 10,148 54,333 — — 64,481 35,620 1984 1998 (1)
890 Winter Street Office Waltham, MA — 13,913 28,557 26,191 13,913 54,748 — — 68,661 12,778 1999 2019 (1)
+Added: 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)
+Added: 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)
−Removed: North First Business Park Office San Jose, CA — 23,398 13,069 6,116 23,378 19,205 — — 42,583 17,852 1981 2007 (1)
150 Broadway Office Cambridge, MA — 850 25,042 15,749 1,323 40,318 — — 41,641 21,863 1999 1997 (1)
+Added: 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)
3 unchanged sentences
Avant Retail Office Reston, VA — 1,499 6,647 2,577 1,499 9,224 — — 10,723 4,104 2014 2010 (1)
+Added: 32 Hartwell Avenue Office Lexington, MA — 168 1,943 6,394 314 8,191 — — 8,505 3,659 1968/1979/1987 1997 (1)
Schedule 3—Real Estate and Accumulated Depreciation
2 unchanged sentences
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)
−Removed: Land Building
−Removed: 17 Hartwell Avenue Office Lexington, MA — 26 150 9,206 65 6,175 3,142 — 9,382 3,831 1968 1997 (1)
−Removed: 32 Hartwell Avenue Office Lexington, MA — 168 1,943 6,394 314 8,191 — — 8,505 3,291 1968/1979/1987 1997 (1)
+Added: 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)
+Added: 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)
6 unchanged sentences
103 CityPoint Life Sciences Waltham, MA — 4,672 77,515 93 4,672 77,608 — — 82,280 2,556 2024 2007 (1)
−Removed: 250 Binney Street Life Sciences Cambridge, MA — 110 4,483 3,593 273 7,913 — — 8,186 7,473 1983 1997 (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)
+Added: 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)
−Removed: Signature at Reston Residential Reston, VA — 27,076 190,580 2,980 27,076 193,560 — — 220,636 32,887 2018 2013 (1)
−Removed: Proto Kendall Square Residential Cambridge, MA — 9,243 127,248 3,336 9,245 130,582 — — 139,827 21,122 2018 2015 (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)
3 unchanged sentences
290 Binney Street Development Cambridge, MA — — — 888,992 1,054 — — 887,938 888,992 — N/A 1997 N/A
+Added: 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
−Removed: Reston Next Office Phase II Development Reston, VA — — — 45,434 1,692 3,030 — 40,712 45,434 14 N/A 1998 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
−Removed: 343 Madison Avenue Land New York, NY — — — 240,226 140,558 — 99,668 — 240,226 — N/A 2023 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
−Removed: 3625-3635 Peterson Way Land Santa Clara, CA — 63,206 — 5,185 — — 68,391 — 68,391 — N/A 2016 N/A
−Removed: North First Master Plan Land San Jose, CA — 35,004 — 4,600 — — 39,604 — 39,604 — N/A 2007 N/A
−Removed: Plaza at Almaden Land San Jose, CA — — — 38,163 — — 38,163 — 38,163 — N/A 2006 N/A
+Added: 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
−Removed: Springfield Metro Center Land Springfield, VA — — — 19,913 — — 19,913 — 19,913 — N/A 2007 N/A
−Removed: Reston Gateway Master Plan Land Reston, VA — — — 17,199 — — 17,199 — 17,199 — N/A 1998 N/A
+Added: 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
+Added: Reston Gateway Master Plan Land Reston, VA — — — 12,443 — — 12,443 — 12,443 — N/A 1998 N/A
+Added: 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
−Removed: Schedule 3—Real Estate and Accumulated Depreciation
−Removed: December 31, 2024
−Removed: (dollars in thousands)
−Removed: 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)
−Removed: Land Building
−Removed: Broad Run Business Park Land Loudoun County, VA — — — 1,188 — — 1,188 — 1,188 — N/A 1998 N/A
Reston Overlook Master Plan Land Reston, VA — — — 82 — — 82 — 82 — N/A 2000 N/A
6 unchanged sentences
(2) This property is encumbered with the mortgage note shown at 355 Main Street.
−Removed: (3) Includes unamortized deferred financing costs and fair value debt adjustment totaling approximately $( 25.7 ) million.
+Added: (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.
32 unchanged sentences
Madison Centre Office Seattle, WA — 104,641 564,336 5,672 104,641 570,008 — — 674,649 76,377 2017 2022 (1)
−Removed: 7 Times Square (formerly Times Square Tower) Office New York, NY — 165,413 380,438 112,011 159,694 498,168 — — 657,862 250,824 2004 2000 (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)
+Added: 7 Times Square Office New York, NY — 165,413 380,438 121,935 159,694 508,092 — — 667,786 265,394 2004 2000 (1)
Carnegie Center Office Princeton, NJ — 142,666 316,856 180,005 90,501 489,800 59,226 — 639,527 288,719 1983-2016 1998/1999/2000/2007/2014/2017/2019 (1)
12 unchanged sentences
535 Mission Street Office San Francisco, CA — 40,933 148,378 14,409 40,934 162,786 — — 203,720 53,063 2015 2013 (1)
−Removed: Mountain View Research Park Office Mountain View, CA — 95,066 68,373 21,315 95,066 89,688 — — 184,754 37,048 1977-1981/2007-2013 2013 (1)
Reservoir Place Office Waltham, MA — 18,605 104,124 61,808 19,089 165,448 — — 184,537 95,892 1955/1987/2017 1997/1998 (1)
−Removed: 140 Kendrick Street Office Needham, MA — 18,095 66,905 68,625 18,095 135,530 — — 153,625 50,959 2000/2023 2004 (1)
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)
−Removed: 1330 Connecticut Avenue Office Washington, DC — 25,982 82,311 35,160 25,982 117,471 — — 143,453 57,126 1984/2018 2004 (1)
+Added: 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)
+Added: One Freedom Square Office Reston, VA — 9,929 84,504 44,319 9,883 128,869 — — 138,752 76,485 2000 2003 (1)
+Added: Two Freedom Square Office Reston, VA — 13,930 77,739 40,913 13,866 118,716 — — 132,582 54,297 2001 2003 (1)
Boston Properties Limited Partnership
3 unchanged sentences
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
−Removed: Property Name Type Location Encumbrances Land Building
−Removed: One Freedom Square Office Reston, VA — 9,929 84,504 41,943 9,883 126,493 — — 136,376 71,339 2000 2003 (1)
−Removed: Two Freedom Square Office Reston, VA — 13,930 77,739 40,024 13,866 117,827 — — 131,693 48,454 2001 2003 (1)
+Added: 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
Kingstowne Towne Center Office Alexandria, VA — 18,021 109,038 5,139 18,021 113,247 930 — 132,198 61,050 2003-2006 2007 (1)
−Removed: One and Two Reston Overlook Office Reston, VA — 16,456 66,192 45,178 15,074 112,752 — — 127,826 62,667 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)
−Removed: Shady Grove Innovation District
−Removed: Office Rockville, MD — 52,030 64,212 ( 284 ) 26,834 35,014 54,110 — 115,958 5,526 1968-1985 2021 (1)
−Removed: 355 Main Street Office Cambridge, MA 594,869 18,863 53,346 41,474 21,098 92,585 — — 113,683 39,544 1981/1996/2013 2006 (1)
+Added: One and Two Reston Overlook Office Reston, VA — 16,456 66,192 44,540 15,074 112,114 — — 127,188 67,131 1999 2000 (1)
+Added: 1330 Connecticut Avenue Office Washington, DC — 25,982 82,311 18,088 20,792 105,589 — — 126,381 60,339 1984/2018 2004 (1)
17Fifty Presidents Street Office Reston, VA — — 113,362 162 — 113,524 — — 113,524 25,408 2020 2013 (1)
Discovery Square Office Reston, VA — 11,198 71,782 28,596 11,146 100,430 — — 111,576 64,158 2001 2003 (1)
+Added: 355 Main Street Office Cambridge, MA 596,213 18,863 53,346 38,536 21,098 89,647 — — 110,745 42,245 1981/1996/2013 2006 (1)
10 CityPoint Office Waltham, MA — 1,953 85,752 7,124 2,127 92,702 — — 94,829 29,905 2016 1997 (1)
−Removed: 90 Broadway Office Cambridge, MA — (2) 19,104 52,078 21,989 20,741 72,430 — — 93,171 33,338 1983/1998/2013 2006 (1)
Waltham Weston Corporate Center Office Waltham, MA — 10,385 60,694 23,005 10,350 83,734 — — 94,084 50,160 2003 1999 (1)
Sumner Square Office Washington, DC — 624 28,745 63,969 26,494 66,844 — — 93,338 31,851 1985 1999 (1)
+Added: 90 Broadway Office Cambridge, MA — (2) 19,104 52,078 21,989 20,741 72,430 — — 93,171 35,765 1983/1998/2013 2006 (1)
230 CityPoint Office Waltham, MA — 13,189 49,823 24,305 13,403 73,914 — — 87,317 44,541 1992 2005 (1)
2 unchanged sentences
Wisconsin Place Office Chevy Chase, MD — — 53,349 26,485 — 79,834 — — 79,834 33,776 2009 2004 (1)
+Added: Shady Grove Innovation District
+Added: 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)
−Removed: Reston Corporate Center Office Reston, VA — 9,135 50,857 1,878 9,496 52,374 — — 61,870 34,685 1984 1998 (1)
890 Winter Street Office Waltham, MA — 13,913 28,557 26,191 13,913 54,748 — — 68,661 12,778 1999 2019 (1)
+Added: Reston Corporate Center Office Reston, VA — 9,135 50,857 1,878 9,496 52,374 — — 61,870 35,966 1984 1998 (1)
255 Main Street Office Cambridge, MA — 134 25,110 32,253 134 57,363 — — 57,497 47,083 1987 1997 (1)
University Place Office Cambridge, MA — — 37,091 12,264 3,435 45,920 — — 49,355 38,664 1985 1998 (1)
−Removed: North First Business Park Office San Jose, CA — 23,398 13,069 6,093 23,372 19,188 — — 42,560 17,845 1981 2007 (1)
+Added: 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 6,802 6,128 34,964 — — 41,092 24,387 1981/2006 2007 (1)
150 Broadway Office Cambridge, MA — 850 25,042 13,744 822 38,814 — — 39,636 21,104 1999 1997 (1)
+Added: 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 10,617 1,868 22,991 — — 24,859 18,588 1990 1997 (1)
4 unchanged sentences
32 Hartwell Avenue Office Lexington, MA — 168 1,943 5,808 168 7,751 — — 7,919 3,437 1968/1979/1987 1997 (1)
−Removed: 32 Hartwell Avenue Office Lexington, MA — 168 1,943 5,808 168 7,751 — — 7,919 3,080 1968/1979/1987 1997 (1)
453 Ravendale Drive Office Mountain View, CA — 5,477 1,090 1,308 5,477 2,398 — — 7,875 1,483 1977 2012 (1)
1 unchanged sentence
180 CityPoint Life Sciences Waltham, MA — 10,908 211,883 12,078 10,908 223,961 — — 234,869 14,537 2024 2006 (1)
+Added: 300 Binney Street Life Sciences Cambridge, MA — 18,080 51,262 157,956 18,080 209,218 — — 227,298 15,427 2024 2009 (1)
Boston Properties Limited Partnership
3 unchanged sentences
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
−Removed: Property Name Type Location Encumbrances Land Building
−Removed: 300 Binney Street Life Sciences Cambridge, MA — 18,080 51,262 148,974 18,080 200,236 — — 218,316 7,923 2024 2009 (1)
+Added: 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
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)
6 unchanged sentences
The Skylyne Residential Oakland, CA — — 239,077 1,792 — 240,869 — — 240,869 32,233 2020 N/A (1)
−Removed: Signature at Reston Residential Reston, VA — 27,076 190,580 2,980 27,076 193,560 — — 220,636 32,887 2018 2013 (1)
−Removed: Proto Kendall Square Residential Cambridge, MA — 9,243 127,248 3,336 9,245 130,582 — — 139,827 21,122 2018 2015 (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)
3 unchanged sentences
290 Binney Street Development Cambridge, MA — — — 888,576 638 — — 887,938 888,576 — N/A 1997 N/A
+Added: 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
−Removed: Reston Next Office Phase II Development Reston, VA — — — 45,434 1,692 3,030 — 40,712 45,434 14 N/A 1998 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
−Removed: 343 Madison Avenue Land New York, NY — — — 240,226 140,558 — 99,668 — 240,226 — N/A 2023 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
−Removed: 3625-3635 Peterson Way Land Santa Clara, CA — 63,206 — 5,185 — — 68,391 — 68,391 — N/A 2016 N/A
−Removed: North First Master Plan Land San Jose, CA — 35,004 — 4,600 — — 39,604 — 39,604 — N/A 2007 N/A
−Removed: Plaza at Almaden Land San Jose, CA — — — 38,163 — — 38,163 — 38,163 — N/A 2006 N/A
+Added: 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
−Removed: Springfield Metro Center Land Springfield, VA — — — 19,913 — — 19,913 — 19,913 — N/A 2007 N/A
−Removed: Reston Gateway Master Plan Land Reston, VA — — — 17,199 — — 17,199 — 17,199 — N/A 1998 N/A
+Added: 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
+Added: Reston Gateway Master Plan Land Reston, VA — — — 12,443 — — 12,443 — 12,443 — N/A 1998 N/A
+Added: 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
−Removed: Broad Run Business Park Land Loudoun County, VA — — — 1,188 — — 1,188 — 1,188 — N/A 1998 N/A
Reston Overlook Master Plan Land Reston, VA — — — 82 — — 82 — 82 — N/A 2000 N/A
−Removed: Boston Properties Limited Partnership
−Removed: Schedule 3—Real Estate and Accumulated Depreciation
−Removed: December 31, 2024
−Removed: (dollars in thousands)
−Removed: 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
−Removed: Property Name Type Location Encumbrances Land Building
$ 4,280,067 (3) $ 5,656,418 $ 15,510,064 $ 7,362,066 $ 5,826,401 (4) $ 20,708,398 (5) $ 518,492 (6) $ 1,475,257 $ 28,528,548 $ 7,869,732
5 unchanged sentences
(2) This property is encumbered with the mortgage note shown at 355 Main Street.
−Removed: (3) Includes unamortized deferred financing costs and fair value debt adjustment totaling approximately $( 25.7 ) million.
+Added: (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.
31 unchanged sentences
filed on March 22, 2013.)
−Removed: 3.5 — Certificate of Amendment to Boston Properties, Inc.’s Amended and Restated Certificate of Incorporation (Incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K of Boston Properties, Inc.
+Added: 3.5 — Certificate of Amendment to Boston Properties, Inc.’s Amended and Restated Certificate of Incorporation .
+Added: (Incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K of Boston Properties, Inc.
and Boston Properties Limited Partnership filed on June 20, 2024.)
7 unchanged sentences
4.2 — Description of the Securities of BXP, Inc.
−Removed: and Boston Properties Limited Partnership (Filed herewith.)
+Added: and Boston Properties Limited Partnership .
+Added: ( Incorp or ated by reference to Exhibit 4.2 to the Annual Report on Form 10-K of BXP , Inc.
+Added: and Boston Properties Limited Par tner ship filed on February 27, 2025 .)
4.3 — Indenture, dated as of December 13, 2002, by and between Boston Properties Limited Partnership and The Bank of New York, as Trustee.
1 unchanged sentence
4.4 — Supplemental Indenture No.
−Removed: 14, dated as of June 27, 2013, between Boston Properties Limited Partnership and The Bank of New York Mellon Trust Company, N.A., as Trustee, including a form of the 3.800% Senior Note due 2024.
−Removed: (Incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K of Boston Properties Limited Partnership filed on July 1, 2013.)
−Removed: 4.5 — Supplemental Indenture No.
15, dated as of January 20, 2016, between Boston Properties Limited Partnership and The Bank of New York Mellon Trust Company, N.A., as Trustee, including a form of the 3.650% Senior Note due 2026.
6 unchanged sentences
4.6 — Supplemental Indenture No.
−Removed: 17, dated as of December 4, 2017, between Boston Properties Limited Partnership and The Bank of New York Mellon Trust Company, N.A., as Trustee;
−Removed: including a form of the 3.200% Senior Note due 2025.
−Removed: (Incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K of Boston Properties Limited Partnership and Boston Properties, Inc.
−Removed: filed on December 4, 2017.)
−Removed: 4.8 — Supplemental Indenture No.
18, dated as of November 28, 2018, between Boston Properties Limited Partnership and The Bank of New York Mellon Trust Company, N.A., as Trustee;
42 unchanged sentences
and Boston Properties Limited Partnership filed on August 26, 2024.)
+Added: 4.15 — Indenture, dated as of September 29, 2025, among Boston Properties Limited Partnership, as issuer, BXP, Inc., and The Bank of New York Mellon Trust Company, N.A., as trustee;
+Added: including a form of the 2.00% Exchangeable Senior Notes due 2030.
+Added: (Incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K of BXP, Inc.
+Added: and Boston Properties Limited Partnership filed on September 29, 2025.)
+Added: 4.16 — Registration Rights Agreement, dated as of September 29, 2025, among Boston Properties Limited Partnership, BXP, Inc., and the initial purchasers named therein .
+Added: (Incorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K of BXP, Inc.
+Added: and Boston Properties Limited Partnership filed on September 29, 2025.)
10.1 — Second Amended and Restated Agreement of Limited Partnership of Boston Properties Limited Partnership, dated as of June 29, 1998.
14 unchanged sentences
(Incorporated by reference to Exhibit 10.7 to Boston Properties, Inc.’s Annual Report on Form 10-K filed on February 28, 2018.)
−Removed: 10.8 — Two Hundred Nineteenth Amendment to the Second Amended and Restated Agreement of Limited Partnership of Boston Properties Limited Partnership, dated as of June 20, 2024 and effective as of July 1, 2024 (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Boston Properties, Inc.
+Added: 10.8 — Two Hundred Nineteenth Amendment to the Second Amended and Restated Agreement of Limited Partnership of Boston Properties Limited Partnership, dated as of June 20, 2024 and effective as of July 1, 2024 .
+Added: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Boston Properties, Inc.
and Boston Properties Limited Partnership filed on June 20, 2024.)
38 unchanged sentences
(Incorporated by reference to Exhibit 10.19 to Boston Properties, Inc.’s Annual Report on Form 10-K filed on March 2, 2009.)
−Removed: 10.21* — Second Amended and Restated Employment Agreement, dated as of February 28, 2023, by and between Boston Properties, Inc.
−Removed: and Raymond A.
−Removed: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Boston Properties, Inc.
−Removed: and Boston Properties Limited Partnership filed on March 2, 2023.)
10.21* — Employment Agreement by and between Michael E.
13 unchanged sentences
(Incorporated by reference to Exhibit 10.33 to Boston Properties, Inc.’s Annual Report on Form 10-K filed on March 2, 2009.)
−Removed: 10.27* — Amended and Restated Employment Agreement by and between Owen D.
−Removed: Thomas and Boston Properties, Inc.
−Removed: dated as of November 4, 2023.
−Removed: (Incorporated by reference to Exhibit 10.1 to Boston Properties, Inc.'s Quarterly Report on Form 10-Q filed on November 7, 2023.)
+Added: 10.26* — Amended and Restated Employment Agreement, dated December 22, 2025, by and between Owen D.
+Added: Thomas and BXP, Inc (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of BXP , Inc.
+Added: and Boston Properties Limited Partnership filed on December 22, 2025.)
10.27* — Boston Properties, Inc.
33 unchanged sentences
(Incorporated by reference to Exhibit 10.55 to Boston Properties, Inc.’s Annual Report on Form 10-K filed on February 25, 2011.)
−Removed: 10.40* — Boston Properties, Inc.
+Added: 10.39* — BXP, Inc.
Non-Employee Director Compensation Plan.
−Removed: (Incorporated by reference to Appendix B to Boston Properties, Inc.’s Proxy Statement on Schedule 14A filed on April 6, 2022.)
−Removed: 10.41 — Ninth Amended and Restated Credit Agreement, dated as of June 15, 2021, among Boston Properties Limited Partnership and the lenders identified therein.
−Removed: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Boston Properties, Inc.
−Removed: and Boston Properties Limited Partnership filed on June 16, 2021.)
−Removed: 10.42 — First Amendment to Ninth Amended and Restated Credit Agreement, dated as of June 1, 2023, among Boston Properties Limited Partnership and the lenders identified therein.
−Removed: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Boston Properties, Inc.
−Removed: and Boston Properties Limited Partnership filed on June 6, 2023.)
−Removed: 10.43 — Second Amendment to Ninth Amended and Restated Credit Agreement, dated as of June 27, 2024, among Boston Properties Limited Partnership and the lenders identified therein.
−Removed: (Incorporated by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q of BXP, Inc.
−Removed: and Boston Properties Limited Partnership filed on November 5, 2024.)
−Removed: 10.44 — Third Amendment to Ninth Amended and Restated Credit Agreement, dated as of August 2, 2024, among Boston Properties Limited Partnership and the lenders identified therein.
−Removed: (Incorporated by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q of BXP, Inc.
−Removed: and Boston Properties Limited Partnership filed on November 5, 2024.)
+Added: (Filed herewith.)
10.40 — Credit Agreement, dated as of January 4, 2023, among Boston Properties Limited Partnership and the lenders identified therein.
4 unchanged sentences
and Boston Properties Limited Partnership filed on November 5, 2024.)
+Added: 10.42 — Tenth Amended and Restated Credit Agreement, dated as of March 28, 2025, among Boston Properties Limited Partnership and the lenders identified therein.
+Added: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of BXP, Inc.
+Added: and Boston Properties Limited Partnership filed on March 31, 2025.)
+Added: 10.43 — First Amendment to Tenth Amended and Restated Credit Agreement, dated as of April 22, 2025, among Boston Properties Limited Partnership and the lenders identified therein.
+Added: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of BXP, Inc.
+Added: and Boston Properties Limited Partnership filed on April 23, 2025.)
+Added: 10.44 — Form of Capped Call Transaction Confirmation.
+Added: (Incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of BXP, Inc.
+Added: and Boston Properties Limited Partnership filed on September 29, 2025.)
19.1 — BXP, Inc.
−Removed: Insider Trading Policy (Filed herewith.)
+Added: Insider Trading Policy ( Incorporated by reference to Exhibit 19.
+Added: 1 to the Annual Report on Form 10-K of BXP, Inc.
+Added: and Boston Properties Limited Partnership filed on February 27, 202 5.
21.1 — Subsidiaries of BXP, Inc.
25 unchanged sentences
97.1 — Compensation Recovery Policy of Boston Properties, Inc.
−Removed: ( Incorporated by reference to Exhibit 97.1 to the Annual Report on F orm 10-K of BXP, I n c.
+Added: (Incorporated by reference to Exhibit 97.1 to the Annual Report on Form 10-K of BXP, Inc.
and Boston Properties Limited Partnership filed on February 27, 2024.)
25 unchanged sentences
/s/ B RUCE W .
−Removed: /s/ C AROL B.
/s/ D IANE J.
1 unchanged sentence
/s/ T IMOTHY J.
+Added: /s/ J ULIE G.
/s/ W ILLIAM H.
20 unchanged sentences
/s/ B RUCE W .
−Removed: /s/ C AROL B.
/s/ D IANE J.
1 unchanged sentence
/s/ T IMOTHY J.
+Added: /s/ J ULIE G.
/s/ W ILLIAM H.
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.