Net income attributable to BXP, Inc. increased significantly to $276.8 million for the year ended December 31, 2025, compared to $14.272 million in 2024. Net income attributable to Boston Properties Limited Partnership increased to $321.104 million in 2025, up from $23.480 million in 2024. Executed 87 leases totaling over 1.8 million square feet in Q4 2025, with a weighted-average lease term of approximately 11.3 years. Full-year 2025 leasing activity totaled approximately 5.6 million square feet with a weighted-average lease term of 10.1 years. Total in-service portfolio occupancy increased to 86.7% at December 31, 2025, a 70 basis point increase from Q3 2025. Total portfolio was 89.4% leased at December 31, 2025, a 60 basis point increase from Q3 2025. Completed eight sales transactions for an aggregate gross sales price of approximately $702.6 million, resulting in net proceeds of $682.5 million and gains on sales of real estate of $175.0 million for BXP and $177.6 million for BPLP. Recognized impairment losses of approximately $85.8 million for BXP and $82.9 million for BPLP on consolidated properties approved for sale. Recognized an other-than-temporary impairment loss of approximately $145.1 million on the investment in the Gateway Commons unconsolidated joint venture. Commenced development/redevelopment of four properties, including 343 Madison Avenue in New York City, aggregating approximately 1.9 million estimated net rentable square feet, with an estimated total investment of $2.1 billion (Company's share). Placed in-service four properties totaling approximately 727,000 net rentable square feet. Strengthened the balance sheet by addressing debt maturities and sourcing additional liquidity, with debt market activities totaling approximately $4.2 billion (excluding unconsolidated joint ventures). Repaid $850.0 million of 3.20% unsecured senior notes due January 15, 2025. Upsized the unsecured commercial paper program from $500.0 million to $750.0 million in March 2025. Extended the maturity date for the $700.0 million unsecured term loan to 2030 (inclusive of extension options) in March 2025. Upsized the amended and restated revolving credit agreement from $2.0 billion to $2.25 billion and extended its maturity date to 2030 in March 2025. Issued $1.0 billion of 2.00% unsecured exchangeable senior notes due 2030 in September 2025. Unconsolidated joint ventures completed debt market activities totaling approximately $1.2 billion (Company's share: $0.5 billion). Acquired partners' 45% ownership interest in the 343 Madison Avenue project for approximately $43.5 million in cash. Approved 2025 Multi-Year Long-Term Incentive Program (MYLTIP) awards with an aggregate value of approximately $12.7 million and 2025 Outperformance Plan (OPP) Awards with an aggregate value of approximately $31.9 million. Achieved carbon-neutral operations for GHG emissions Scopes 1 and 2 by the end of 2025. Ranked among the top real estate companies in the GRESB assessment, earning a tenth consecutive 5-star rating.