Core Insights - Brandywine Realty Trust is developing a new culinary destination, Gather Food Hall & Bar, at Schuylkill Yards, set to open in Fall 2025, featuring six local vendors and an elevated bar in a contemporary setting [2][5] - The project aims to create a welcoming space for office tenants, students, and locals, while honoring the historic Bulletin Building's legacy as a hub for innovation and communication [2][3] Company Overview - Brandywine Realty Trust is a publicly traded real estate investment trust (REIT) focused on the Philadelphia and Austin markets, managing a portfolio of 126 properties totaling 19.4 million square feet as of December 31, 2024 [11] - The company is committed to shaping and inspiring communities through its real estate expertise and relationships [11] Project Details - Gather Food Hall will occupy 13,000 square feet and is curated by Hospitality HQ, known for chef-driven concepts, in partnership with local organizations to support emerging culinary entrepreneurs [4][8] - The design by Bell Butler Design & Architecture will celebrate the Bulletin Building's industrial past while integrating modern elements, creating a vibrant atmosphere for community engagement [7] Social Impact - The initiative addresses food insecurity among college students, with 1 in 4 students affected, and includes mentorship programs for vendor partners to help them succeed in the culinary industry [10][9] - Gather Food Hall aims to empower the community through programs that minimize barriers for vendors and provide essential support [8] Location and Connectivity - Schuylkill Yards is strategically located adjacent to 30th Street Station, providing excellent access to Amtrak, regional rail, and SEPTA transit lines, enhancing connectivity for businesses and talent [6] - The area is being developed into a dynamic hub for innovation, featuring 70,000 square feet of retail space and 6.5 acres of greenspace [5]

In November last year, I started covering Brandywine Realty Trust (NYSE: BDN ), highlighting a potential 50%-100% upside potential based on a cap rate and a historical Price to Funds From Operations (FFO) valuation. Key projects started to come online that would help diversifyI'm Luuk Wierenga, an economics teacher from the Netherlands with a strong focus on income investing. My investment journey began during COVID-19, and since then, I've specialized in identifying high-yield Real Estate Investment Trusts ...

Earnings season is upon us and the commercial real estate sector is proving more exciting than ever. As the rising interest rate era appears to be ending, higher for longer continues to redefine investing in incomeAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than ...

Exhibit 99.1 Company / Investor Contact: Tom Wirth EVP & CFO 610-832-7434 tom.wirth@bdnreit.com Heather Crowell Gregory FCA 215-316-6271 heather@gregoryfca.com Financial Results Portfolio Results - 1 - • Net loss available to common shareholders: $(43.3) million, or $(0.25) per share. These results include a $(23.8) million, or $(0.14) per share, non-cash impairment charge primarily related to two of our unconsolidated joint ventures located in the Metropolitan D.C. area. • Funds from Operations (FFO) avail ...

Start Time: 09:00 January 1, 0000 10:04 AM ET Brandywine Realty Trust (NYSE:BDN) Q4 2024 Earnings Conference Call February 05, 2025, 09:00 AM ET Company Participants Gerry Sweeney - President and CEO Tom Wirth - EVP and CFO George Johnstone - EVP, Operations Dan Palazzo - SVP and CAO Conference Call Participants Steve Sakwa - Evercore ISI Anthony Paolone - JPMorgan Dylan Burzinski - Green Street Upal Rana - KeyBanc Capital Markets Michael Lewis - Truist Securities Michael Griffin - Citi Operator Good day, a ...

Financial Data and Key Metrics Changes - The company reported a net loss of $43.3 million or $0.25 per share for the fourth quarter, with FFO at $29.9 million or $0.17 per share, impacted by non-cash impairment charges totaling $23.8 million or $0.14 per share [27] - FFO results were 3% below guidance and 6% below consensus estimates, primarily due to timing and other factors [27] - The company ended 2024 with $90 million in cash and no outstanding balance on its $600 million unsecured line of credit [10][30] Business Line Data and Key Metrics Changes - The wholly owned core portfolio was 87.8% occupied and 89.9% leased, showing sequential improvement [5] - Leasing activity for the year approximated 2.3 million square feet, with 783,000 square feet of leases executed in the fourth quarter, the highest quarterly activity in 2024 [6] - The operating portfolio leasing pipeline remains strong at 1.8 million square feet, with 163,000 square feet in advanced negotiations [9] Market Data and Key Metrics Changes - In Philadelphia, Class A properties accounted for 66% of all lease deals signed in 2024, with the overall CBD portfolio being 93% leased [12] - The CBD recorded 1 million square feet of transactions during 2024, with Brandywine capturing 49% of all office deals [13] - Austin's leasing momentum remains positive, with over 81 tenants actively seeking more than 2.5 million square feet of space [13] Company Strategy and Development Direction - The company aims to leverage improving real estate market trends and position itself for future growth, focusing on liquidity, portfolio stability, and lease-up development [14][42] - 2025 is viewed as a transitional earnings year, with a focus on stabilizing development projects and maintaining minimal balances on the line of credit [15][21] - The company plans to recapitalize or exit several operating joint ventures to reduce debt attribution and improve liquidity [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strength of the operating platform and the quality of developments, despite the current lack of visibility on income timing from development projects [42] - The company noted that tenants are behaving more cautiously due to macroeconomic uncertainties, but discussions with major prospects are ongoing [46][47] - Management highlighted that the overall real estate markets are improving, with a solid operating foundation laid during 2024 [11][12] Other Important Information - The company achieved a tenant retention rate of 63%, exceeding the original target of 51% to 53% [5] - The 2025 FFO guidance is set at a range of $0.60 to $0.72 per share, with a midpoint of $0.66, reflecting a decrease from 2024 levels [21] - The company anticipates a CAD payout ratio of 120% to 150% for 2025, influenced by deferred tenant allowance payments [38] Q&A Session Summary Question: Have any of the larger tenants at 3151 or Uptown ATX gone elsewhere? - Management confirmed that no major prospects have been lost to other buildings, but decision-making timelines have been protracted due to macro uncertainties [44][46] Question: What confidence does the company have around rents and timing to hit yields? - Management indicated that it is more of a timing issue than a pricing issue, with a strong flight to quality observed in the market [48][49] Question: What would be the difference between JV FFO losses for 2025 versus stabilized levels? - Management estimated that income from JVs could ramp up to over $50 million once stabilized, compared to $10 million to $12 million in 2025 [56] Question: Why is the guidance range for 2025 so wide? - The wide range is due to uncertainties in leasing and recapitalization opportunities, with potential upside if leasing occurs faster than anticipated [72][76] Question: Will the $24 million deferred tenant allowance impact only 2025? - Management believes that the deferred tenant allowances will not spill over into 2026, as most have sunset provisions triggering in 2025 [80][84]

For the quarter ended December 2024, Brandywine Realty Trust (BDN) reported revenue of $121.91 million, down 6.4% over the same period last year. EPS came in at $0.17, compared to -$0.91 in the year-ago quarter.The reported revenue represents a surprise of -5.60% over the Zacks Consensus Estimate of $129.14 million. With the consensus EPS estimate being $0.24, the EPS surprise was -29.17%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

PHILADELPHIA, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and twelve-month periods ended December 31, 2024. Management Comments "We accomplished or exceeded many of our full year 2024 business plan objectives including speculative revenue, tenant retention, our same store NOI results and rental rate mark-to-markets," stated Jerry Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. "In addition to ...

Core Insights - Brandywine Realty Trust reported financial and operational results for the year ending December 31, 2024, highlighting achievements in revenue, tenant retention, and leasing activity [1][2]. Financial Results - The company experienced a net loss available to common shareholders of $(43.3) million, or $(0.25) per share, in Q4 2024, compared to a net loss of $(157.4) million, or $(0.91) per share, in Q4 2023 [6][8]. - Funds from Operations (FFO) available to common shareholders totaled $29.9 million, or $0.17 per diluted share, down from $47.2 million, or $0.27 per diluted share, in the same quarter of the previous year [9][11]. - For the full year 2024, the net loss was $(195.6) million, or $(1.13) per share, compared to $(197.4) million, or $(1.15) per share, in 2023 [10][11]. Portfolio Performance - The core portfolio was 87.8% occupied and 89.9% leased as of December 31, 2024, with a tenant retention ratio of 76% in Q4 and 63% for the full year [12][17]. - Same Store Net Operating Income (NOI) decreased by (1.6)% on an accrual basis but increased by 0.5% on a cash basis [12][44]. Leasing Activity - In Q4 2024, the company signed new and renewal leases totaling 486,000 square feet, with a total of 1,306,000 square feet for the full year [13][15]. - The rental rate mark-to-market increased by 5.9% on an accrual basis and 1.1% on a cash basis [14]. Transaction Activity - The company completed over $300 million in dispositions, exceeding its initial target of $90 million [2]. - Significant sales included the sale of One and Two Barton Skyway for $107.6 million and a 50% interest in 4040 Wilson for $190.5 million [6][7]. Guidance for 2025 - The company provided 2025 guidance for loss per share of $(0.60) to $(0.48) and FFO guidance of $0.60 to $0.72 per diluted share [19][20]. - Key assumptions for 2025 include a year-end core occupancy range of 88-89% and a tenant retention rate range of 59-61% [20].

Growing asset management firm chooses to stay in Philadelphia after extensive searchPHILADELPHIA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) and FS Investments today announced they have entered into a 117,000 square foot, 16-year lease for the Philadelphia-based alternative asset manager’s new global headquarters at 3025 JFK Blvd. in Philadelphia’s dynamic new neighborhood, Schuylkill Yards. FS Investments is one of Philadelphia’s fastest growing companies and is helping Philadelp ...