Slide 1: Supplemental Operating and Financial Data for the Quarter Ended June 30, 2024
Supplemental Operating and Financial Data for the Quarter Ended June 30, 2024
Slide 2: The Company
THE COMPANY BXP, Inc. (NYSE: BXP) (formerly known as Boston Properties, Inc.) (“BXP” or the “Company”) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco,
Slide 3: General Information
GENERAL INFORMATION Corporate Headquarters Trading Symbol Investor Relations Inquiries 800 Boylston Street BXP BXP, Inc. Inquiries should be directed to Suite 1900 800 Boylston Street, Suite 1900 Helen Han Boston, MA 02199 Stock Exchange Listing Boston, MA 02199 Vice President, Investor Relations ww
Slide 4: Table of contents
Q2 2024 Table of contents Page OVERVIEW Company Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Guidance and
Slide 5: Company profile snapshot
Q2 2024 Company profile SNAPSHOT (as of June 30, 2024) Fiscal Year-End . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 31 Total Properties (includes unconsolidat
Slide 6: Guidance and assumptions
Q2 2024 Guidance and assumptions GUIDANCE BXP’s guidance for the third quarter 2024 and full year 2024 for diluted earnings per common share attributable to BXP, Inc. (EPS) and diluted funds from operations (FFO) per common share attributable to BXP, Inc. is set forth and reconciled below. Except as
Slide 7: Financial highlights
Q2 2024 Financial highlights (unaudited and in thousands, except ratios and per share amounts) Three Months Ended 30-Jun-24 31-Mar-24 Net income attributable to BXP, Inc. $ 79,615 $ 79,883 Net income attributable to BXP, Inc. per share - diluted $ 0.51 $ 0.51 FFO attributable to BXP, Inc. 1 $ 278,39
Slide 8: Financial highlights (continued)
Q2 2024 Financial highlights (continued) 11 Represents signed leases for which revenue recognition has commenced in accordance with GAAP. Excludes hotel and residential properties. 12 Represents signed leases for which revenue recognition has commenced in accordance with GAAP and signed leases for v
Slide 9: Consolidated Balance Sheets
Q2 2024 Consolidated Balance Sheets (unaudited and in thousands) 30-Jun-24 31-Mar-24 ASSETS Real estate $ 25,840,947 $ 25,715,870 Construction in progress 757,356 685,465 Land held for future development 675,191 661,713 Right of use assets - finance leases 372,896 401,486 Right of use assets - opera
Slide 10: Consolidated Income Statements
Q2 2024 Consolidated Income Statements (unaudited and in thousands, except per share amounts) Three Months Ended 30-Jun-24 31-Mar-24 Revenue Lease $ 790,555 $ 788,590 Parking and other 33,890 29,693 Insurance proceeds 725 2,523 Hotel revenue 14,812 8,186 Development and management services 6,352 6,1
Slide 11: Funds from operations (FFO)
Q2 2024 Funds from operations (FFO) 1 (unaudited and dollars in thousands, except per share amounts) Three Months Ended 30-Jun-24 31-Mar-24 Net income attributable to BXP, Inc. $ 79,615 $ 79,883 Add: Noncontrolling interest - common units of the Operating Partnership 9,509 9,500 Noncontrolling inter
Slide 12: Funds available for distributions (FAD)
Q2 2024 Funds available for distributions (FAD) 1 (dollars in thousands) Three Months Ended 30-Jun-24 31-Mar-24 Net income attributable to BXP, Inc. $ 79,615 $ 79,883 Add: Noncontrolling interest - common units of the Operating Partnership 9,509 9,500 Noncontrolling interests in property partnership
Slide 13: Reconciliation to same property NOI
Q2 2024 Reconciliation of net income attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) (in thousands) Three Months Ended 30-Jun-24 30-Jun-23 Net income attributable to BXP, Inc. $ 79,615 $ 104,299 Net income attributable to noncontrolling interests Noncontrolling i
Slide 14: Reconciliation to same property NOI - cash
Q2 2024 Reconciliation of net income attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) - cash (in thousands) Three Months Ended 30-Jun-24 30-Jun-23 Net income attributable to BXP, Inc. $ 79,615 $ 104,299 Net loss attributable to noncontrolling interests Noncontroll
Slide 15: Same property NOI by reportable segment
Q2 2024 Same property net operating income (NOI) by reportable segment (dollars in thousands) Office 1 Hotel & Residential Three Months Ended $ % Three Months Ended $ % 30-Jun-24 30-Jun-23 Change Change 30-Jun-24 30-Jun-23 Change Change Rental Revenue 2 $ 768,259 $ 769,575 $ 27,038 $ 26,222 Less: Te
Slide 16: Same property NOI by reportable segment (continued)
Q2 2024 Same property net operating income (NOI) by reportable segment (continued) 4 Consist of lease transaction costs that qualify as rent inducements in accordance with GAAP. Lease transaction costs are generally included in 2nd generation tenant improvements and leasing commissions in the Compan
Slide 17: Capital expenditures, tenant improvements and leasing commissions
Q2 2024 Capital expenditures, tenant improvement costs and leasing commissions (dollars in thousands, except PSF amounts) CAPITAL EXPENDITURES Three Months Ended 30-Jun-24 31-Mar-24 Maintenance capital expenditures $ 16,218 $ 13,102 Planned capital expenditures associated with acquisition properties
Slide 18: Acquisitions and dispositions
Q2 2024 Acquisitions and dispositions For the period from January 1, 2024 through June 30, 2024 (dollars in thousands) ACQUISITIONS Investment Anticipated In-service Property Location Date Acquired Square Feet Initial Future Total Leased (%) 901 New York Avenue 1 Washington, DC January 8, 2024 523,9
Slide 19: Construction in progress
Q2 2024 Construction in progress as of June 30, 2024 (dollars in thousands) CONSTRUCTION IN PROGRESS 1 Actual/Estimated BXP’s share Estimated Amount Estimated Percentage Percentage Net Operating Initial Stabilization Square Investment Total Total Drawn at Future Equity placed in- Income (Loss) 5 Con
Slide 20: Construction in progress (continued)
Q2 2024 Construction in progress (continued) 6 Norges Bank Investment Management (NBIM) funded approximately $212.9 million at closing for its investment in 300 Binney Street. The Company withdrew approximately $212.9 million at closing and will fund all future costs of the project. 7 The project bu
Slide 21: Land parcels and purchase options
Q2 2024 Land parcels and purchase options as of June 30, 2024 OWNED LAND PARCELS Location Approximate Developable Square Feet 1 Reston, VA 2,229,000 San Jose, CA 2 2,830,000 New York, NY (25% ownership) 2,000,000 Princeton, NJ 1,723,000 San Jose, CA (55% ownership) 1,088,000 New York, NY (55% owners
Slide 22: Leasing activity
Q2 2024 Leasing activity for the three months ended June 30, 2024 ALL IN-SERVICE PROPERTIES Net (increase)/decrease in available space (SF) Total Vacant space available at the beginning of the period 5,758,606 Less: Property dispositions/properties taken out of service 1 30,000 Add: Properties place
Slide 23: Portfolio overview
Q2 2024 Portfolio overview for the three months ended June 30, 2024 (dollars in thousands) Rentable square footage of in-service properties by location and unit type 1, 2 Office Retail Residential Hotel Total Boston 14,441,843 1,164,240 550,114 330,000 16,486,197 Los Angeles 2,187,830 126,377 — — 2,
Slide 24: Residential and hotel performance
Q2 2024 Residential and hotel performance (dollars in thousands, except rental rates) RESULTS OF OPERATIONS Residential 1 Hotel Three Months Ended Three Months Ended 30-Jun-24 31-Mar-24 30-Jun-24 31-Mar-24 Rental Revenue 2 $ 12,226 $ 12,684 $ 14,812 $ 8,186 Less: Operating expenses and real estate t
Slide 25: Residential and hotel performance (continued)
Q2 2024 Residential and hotel performance (continued) RENTAL RATES AND OCCUPANCY - Year-over-Year Three Months Ended Residential Percent Units 30-Jun-24 30-Jun-23 Change WASHINGTON, DC Signature at Reston, Reston, VA 2, 3 508 Average Monthly Rental Rate $ 2,822 $ 2,663 5.97 % Average Rental Rate Per
Slide 26: In-service property listing
Q2 2024 In-service property listing as of June 30, 2024 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 CBD BOSTON Office 200 Clarendon Street CBD Boston MA 1 1,729,920 94.5 % 95.2 % $ 83.24 800 Boylston Street - The Prudential Cente
Slide 27: In-service property listing (continued)
Q2 2024 In-service property listing (continued) as of June 30, 2024 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 250 West 55th Street Times Square / West Side NY 1 966,976 98.1 % 99.8 % 95.34 200 Fifth Avenue (26.69% ownership) 4
Slide 28: In-service property listing (continued)
Q2 2024 In-service property listing (continued) as of June 30, 2024 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 4 7750 Wisconsin Avenue (50% ownership) Bethesda/Chevy Chase MD 1 735,573 100.0 % 100.0 % $ 38.99 Wisconsin Place Off
Slide 29: In-service property listing (continued)
Q2 2024 In-service property listing (continued) as of June 30, 2024 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 103 Carnegie Center Princeton NJ 1 96,331 72.0 % 72.0 % 37.42 302 Carnegie Center Princeton NJ 1 64,926 100.0 % 100.0
Slide 30: Top clients listing and client diversification
Q2 2024 Top 20 clients listing and portfolio client diversification as of June 30, 2024 TOP 20 CLIENTS BXP’s Share of Annualized Weighted Average Remaining No. Client Rental Obligations 1 Lease Term (years) 2 1 Salesforce 3.33 % 7.7 2 Google 2.87 % 12.8 3 Biogen 2.48 % 3.3 4 Akamai Technologies 2.14
Slide 31: Occupancy by location
Q2 2024 Occupancy by location as of June 30, 2024 TOTAL IN-SERVICE OFFICE PROPERTIES 1 - Quarter-over-Quarter CBD Suburban Total Location 30-Jun-24 31-Mar-24 30-Jun-24 31-Mar-24 30-Jun-24 31-Mar-24 Boston 95.3 % 95.3 % 76.8 % 79.3 % 89.8 % 90.4 % Los Angeles 85.0 % 86.1 % —% —% 85.0 % 86.1 % New Yor
Slide 32: Capital structure
Q2 2024 Capital structure (in thousands, except percentages) CONSOLIDATED DEBT Aggregate Principal Mortgage Notes Payable $ 4,405,074 Unsecured Line of Credit — Unsecured Term Loan 700,000 Unsecured Commercial Paper 500,000 Unsecured Senior Notes, at face value 9,850,000 Outstanding Principal 15,455
Slide 33: Capital structure (continued)
Q2 2024 Capital structure (continued) 3 All unsecured senior notes are rated BBB (negative), and Baa2 (stable) by S&P and Moody’s, respectively. 4 Values are based on the June 28, 2024 closing price of $61.56 per share of BXP common stock. 5 Amount is calculated based on the Company’s percentage own
Slide 34: Debt analysis
Q2 2024 Debt analysis 1 as of June 30, 2024 (dollars in thousands) PRINCIPAL DUE AT MATURITY $3,500,000 3,050,000 $3,000,000 Principal ($ in thousands) $2,500,000 2,052,198 2,000,000 $2,000,000 1,850,000 1,600,000 $1,500,000 1,250,000 $1,000,000 850,000 850,000 700,000 750,000 500,000 $500,000 $0 20
Slide 35: Senior unsecured debt covenant compliance ratios
Q2 2024 Senior unsecured debt covenant compliance ratios In the fourth quarter of 2002, the Company’s Operating Partnership (Boston Properties Limited Partnership) received investment grade ratings on its senior unsecured debt securities and thereafter issued unsecured notes. The notes were issued u
Slide 36: Net Debt to EBITDAre
Q2 2024 Net Debt to EBITDAre (dollars in thousands) Reconciliation of BXP’s Share of EBITDAre and BXP’s Share of EBITDAre – cash 1 Three Months Ended 30-Jun-24 31-Mar-24 Net income attributable to BXP, Inc. $ 79,615 $ 79,883 Add: Noncontrolling interest - common units of the Operating Partnership 9,
Slide 37: Debt ratios
Q2 2024 Debt ratios (in thousands, except for ratio amounts) INTEREST COVERAGE RATIO 1 Three Months Ended 30-Jun-24 31-Mar-24 BXP’s Share of interest expense 1, 2 $ 156,411 $ 168,767 Less: BXP’s Share of hedge amortization, net of costs 1 2,030 2,030 BXP’s share of fair value interest adjustment 1 4
Slide 38: Consolidated joint ventures
Q2 2024 Consolidated joint ventures as of June 30, 2024 d (unaudited and dollars in thousands) BALANCE SHEET INFORMATION 767 Fifth Avenue Total Consolidated ASSETS (The GM Building) 1 Norges Joint Ventures 1, 2 Joint Ventures Real estate, net $ 3,191,221 $ 2,931,362 $ 6,122,583 Cash and cash equival
Slide 39: Consolidated joint ventures (continued)
Q2 2024 Consolidated joint ventures (continued) for the three months ended June 30, 2024 (unaudited and dollars in thousands) RESULTS OF OPERATIONS 767 Fifth Avenue Total Consolidated (The GM Building) Norges Joint Ventures 1 Joint Ventures Revenue Lease 2 $ 76,401 $ 104,616 $ 181,017 Straight-line
Slide 40: Unconsolidated joint ventures
Q2 2024 Unconsolidated joint ventures 1 as of June 30, 2024 (unaudited and dollars in thousands) BALANCE SHEET INFORMATION Mortgage/ Interest Rate BXP’s Nominal Construction Property Ownership Net Equity Loans Payable, Net Maturity Date Stated GAAP 2 Boston The Hub on Causeway 50.00 % $ — $ — — —% —
Slide 41: Unconsolidated joint ventures (continued)
Q2 2024 Unconsolidated joint ventures (continued) 1 FLOATING AND FIXED RATE DEBT ANALYSIS Weighted Average % of Total Debt Stated Rate GAAP Rate 2 Maturity (years) Floating Rate Debt 53.35 % 7.06 % 7.61 % 0.9 Fixed Rate Debt 46.65 % 4.49 % 4.87 % 6.8 Total Debt 100.00 % 5.86 % 6.33 % 3.6 ___________
Slide 42: Unconsolidated joint ventures (continued)
Q2 2024 Unconsolidated joint ventures (continued) for the three months ended June 30, 2024 (unaudited and dollars in thousands) RESULTS OF OPERATIONS 1 Total Los San Washington, Unconsolidated Boston Angeles New York Francisco Seattle DC Joint Ventures Revenue Lease 2 $ 25,662 $ 19,130 $ 21,853 $ 13
Slide 43: Lease expirations - all in-service properties
Q2 2024 Lease expirations - All in-service properties1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Annualized Rental Obligations Rentable Rentable Obligations Under Expiring Under Expiring Leases with Square Footage Square Footage Leases future step-ups Year of Lease Subje
Slide 44: Lease expirations - Boston region
Q2 2024 Lease expirations - Boston region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Rentable Square Rentable Square Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease Footage Subject Footage Subject Under Expiring Leases Expiring Leases
Slide 45: Quarterly lease expirations - Boston region
Q2 2024 Quarterly lease expirations - Boston region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Lease Expiration Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future step-u
Slide 46: Lease expirations - Los Angeles region
Q2 2024 Lease expirations - Los Angeles region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under Ex
Slide 47: Quarterly lease expirations - Los Angeles region
Q2 2024 Quarterly lease expirations - Los Angeles region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Lease Expiration Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future s
Slide 48: Lease expirations - New York region
Q2 2024 Lease expirations - New York region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under Expir
Slide 49: Quarterly lease expirations - New York region
Q2 2024 Quarterly lease expirations - New York region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Lease Expiration Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future step
Slide 50: Lease expirations - San Francisco region
Q2 2024 Lease expirations - San Francisco region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Rentable Square Rentable Square Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease Footage Subject Footage Subject Under Expiring Leases Expiring
Slide 51: Quarterly lease expirations - San Francisco region
Q2 2024 Quarterly lease expirations - San Francisco region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Lease Expiration Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future
Slide 52: Lease expirations - Seattle region
Q2 2024 Lease expirations - Seattle region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under Expiri
Slide 53: Quarterly lease expirations - Seattle region
Q2 2024 Quarterly lease expirations - Seattle region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Lease Expiration Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future step-
Slide 54: Lease expirations - Washington, DC region
Q2 2024 Lease expirations - Washington, DC region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under
Slide 55: Quarterly lease expirations - Washington, DC region
Q2 2024 Quarterly lease expirations - Washington, DC region in-service properties 1, 2, 3 as of June 30, 2024 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Lease Expiration Rentable Square Rentable Square Under Expiring Leases Expiring Leases with futur
Slide 56: Lease expirations - CBD properties
Q2 2024 Lease expirations - CBD properties 1, 2, 3 as of June 30, 2024 Boston BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under Expiring Leases Expiring Lea
Slide 57: Lease expirations - CBD properties (continued)
Q2 2024 Lease expirations - CBD properties (continued) 1, 2, 3 as of June 30, 2024 San Francisco BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under Expiring
Slide 58: Lease expirations - Suburban properties
Q2 2024 Lease expirations - Suburban properties 1, 2, 3 as of June 30, 2024 Boston BXP’s Share Rentable Square Rentable Square Current Annualized Rental Obligations Annualized Rental Obligations Under Footage Subject Footage Subject Year of Lease Under Expiring Leases Expiring Leases with future ste
Slide 59: Lease expirations - Suburban properties (continued)
Q2 2024 Lease expirations - Suburban properties (continued) 1, 2, 3 as of June 30, 2024 Washington, DC BXP’s Share Rentable Square Rentable Square Footage Subject Footage Subject Current Annualized Rental Obligations Annualized Rental Obligations Under Year of Lease to Expiring to Expiring Under Exp
Slide 60: Research coverage
Q2 2024 Research coverage With the exception of Green Street Advisors, an independent research firm, the equity analysts listed below are those analysts that, according to Thomson Reuters Corporation, have published research material on the Company and are listed as covering the Company. Please note
Slide 61: Definitions
Q2 2024 Definitions This section contains definitions of certain non-GAAP financial measures and other terms that the Company uses in this Supplemental report and, if applicable, the reasons why management believes these non-GAAP financial measures provide useful information to investors about the C
Slide 62: Definitions (continued) - EBITDAre
Q2 2024 Definitions (continued) Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre) Pursuant to the definition of Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate adopted by the Board of Governors of the National Association of Real
Slide 63: Definitions (continued) - Funds from Operations
Q2 2024 Definitions (continued) Funds from Operations (FFO) Pursuant to the revised definition of Funds from Operations adopted by the Board of Governors of Nareit, the Company calculates Funds from Operations, or “FFO,” by adjusting net income (loss) attributable to BXP, Inc. (computed in accordanc
Slide 64: Definitions (continued) - Net Operating Income
Q2 2024 Definitions (continued) Net Operating Income/(Loss) (NOI) Net operating income (NOI) is a non-GAAP financial measure equal to net income attributable to BXP, Inc., the most directly comparable GAAP financial measure, plus (1) net income attributable to noncontrolling interests, corporate gen
Slide 65: Reconciliations
Q2 2024 Reconciliations (unaudited and in thousands) BXP’s Share of select items Three Months Ended 30-Jun-24 31-Mar-24 Revenue $ 850,482 $ 839,439 Partners’ share of revenue from consolidated joint ventures (JVs) (81,219) (80,049) BXP’s share of revenue from unconsolidated JVs 51,527 56,655 BXP’s S
Slide 66: Reconciliations (continued)
Q2 2024 Reconciliations (continued) Maintenance capital expenditures 3 $ 16,218 $ 13,102 Partners’ share of maintenance capital expenditures from consolidated JVs 3 (1,821) (2,072) BXP’s share of maintenance capital expenditures from unconsolidated JVs 3 94 14 BXP’s Share of maintenance capital expe
Slide 67: Reconciliations - consolidated joint ventures
Q2 2024 Reconciliations (continued) for the three months ended June 30, 2024 (unaudited and dollars in thousands) CONSOLIDATED JOINT VENTURES 767 Fifth Avenue Total Consolidated 1 (The GM Building) Norges Joint Ventures Joint Ventures Revenue Lease 2 $ 76,401 $ 104,616 $ 181,017 Straight-line rent 5
Slide 68: Reconciliations - partners' share of NOI
Q2 2024 Reconciliations (continued) for the three months ended June 30, 2024 (unaudited and dollars in thousands) CONSOLIDATED JOINT VENTURES 767 Fifth Avenue Total Consolidated Reconciliation of Partners’ share of Net Operating Income (Loss) (NOI) 6 (The GM Building) Norges Joint Ventures 1 Joint V
Slide 69: Reconciliations - unconsolidated joint ventures
Q2 2024 Reconciliations (continued) for the three months ended June 30, 2024 (unaudited and dollars in thousands) UNCONSOLIDATED JOINT VENTURES 1 Total Los San Washington, Unconsolidated Boston Angeles New York Francisco Seattle DC Joint Ventures Revenue Lease 2 $ 25,662 $ 19,130 $ 21,853 $ 13,110 $
Slide 70: Reconciliations - BXP's share of NOI
Q2 2024 Reconciliations (continued) UNCONSOLIDATED JOINT VENTURES 1 Total Reconciliation of BXP’s share of Net Los San Washington, Unconsolidated Operating Income/(Loss) Boston Angeles New York Francisco Seattle DC Joint Ventures BXP’s share of rental revenue 3 $ 13,401 $ 10,436 5 $ 7,729 5 $ 8,326
Slide 71: Reconciliation to same property NOI (prior period)
Q2 2024 Reconciliations (continued) Reconciliation of Net income attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) (dollars in thousands) Three Months Ended 31-Mar-24 31-Mar-23 Net income attributable to BXP, Inc. $ 79,883 $ 77,890 Net income attributable to noncon
Slide 72: Reconciliation to same property NOI - cash (prior period)
Q2 2024 Reconciliations (continued) Reconciliation of Net income attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) - cash (dollars in thousands) Three Months Ended 31-Mar-24 31-Mar-23 Net income attributable to BXP, Inc. $ 79,883 $ 77,890 Net (income) loss attribut
Slide 73: Consolidated Income Statement - prior year
Q2 2024 Consolidated Income Statement - prior year (unaudited and in thousands, except per share amounts) Three Months Ended 30-Jun-23 31-Mar-23 Revenue Lease $ 761,733 $ 756,875 Parking and other 26,054 23,064 Insurance proceeds 930 945 Hotel revenue 13,969 8,101 Development and management services