Boston Properties LTD Partnership (BXP)

Risks

• 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.
• Our properties face significant competition.
• We face potential difficulties or delays renewing leases or re-leasing space.
• 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.
• We face potential adverse effects from major tenants’ bankruptcies or insolvencies.
• Our actual costs to develop properties may exceed our budgeted costs.
• We face risks associated with the development of mixed-use commercial properties.
• Our use of joint ventures and participation in the Strategic Capital Program may limit our control over and flexibility with jointly owned investments and other assets we may wish to acquire.
• We face the risk that third parties will not be able to service or repay loans we make to them.
• Potential liability for environmental contamination could result in substantial costs.
• Covenants in our debt agreements could adversely affect our financial condition.
• We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
• We face possible adverse state and local tax audits and changes in state and local tax laws.
• 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.
• We face risks associated with security breaches through cyber attacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology (IT) networks and related systems.