PHILADELPHIA, 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 Philadelphia reestablish its reputation as a home to leading financial services firms. With ov ...

PHILADELPHIA, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) announced today the tax characteristics of its 2024 distributions. The tax reporting will be done on Form 1099-DIV and shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of dividends. The characteristics of the Company’s distributions are as follows: Common Shares of Beneficial Interest (CUSIP 105368203) 2024 Dividend DatesRecord 1/4Payment 1/18Record 4/4Payment 4/18Recor ...

Leasing Activity - The company executed 650,000 square feet of leasing activity since last quarter, with Q4 2024 being the highest in 2024 and 18% higher than Q4 2023 [2] - Total leasing activity for 2024 reached 2.2 million square feet with a weighted average lease term of 9.4 years [2] - Over 82% of new leasing activity came from tenants moving to higher quality space, reinforcing the strength of the core portfolio [3] Portfolio and Strategy - The core portfolio remains a solid foundation, with robust leasing in existing assets and progress in development projects [3] - Larger tenant requirements are targeting 2026 occupancy, likely stabilizing commercial development projects by 2026 [3] - The company's mixed-use strategy is designed to capture future growth as the office market stabilizes [4] Company Overview - Brandywine Realty Trust is one of the largest publicly traded, full-service, integrated real estate companies in the US, focusing on the Philadelphia and Austin markets [5] - The company owns, develops, leases, and manages a portfolio of 147 properties totaling 21.1 million square feet as of September 30, 2024 [5] Management Commentary - The CEO highlighted the leasing momentum as a reflection of the strength of high-quality assets and the appeal of mixed-use developments [4] - The company's strategy of curating mixed-use environments is expected to drive long-term value creation [4]

Company Overview - Brandywine Realty Trust is one of the largest publicly traded full-service integrated real estate companies in the United States with a core focus in the Philadelphia and Austin markets [3] - The company owns develops leases and manages an urban town center and transit-oriented portfolio comprising 147 properties and 21 1 million square feet as of September 30 2024 [3] - Brandywine Realty Trust is organized as a real estate investment trust (REIT) [3] Recent Transactions - The company completed the sale of 4040 Wilson a mixed-use development in Arlington VA for $190 5 million ($95 25 million for Brandywine’s 50% share) [2][4] - The Dabney and Brittons Hill portfolio in Richmond VA was sold for $66 8 million generating approximately $15 5 million of net proceeds to Brandywine for its 50% ownership interest [5] - Brandywine also sold an 11-acre land parcel operating under a long-term parking lease valued at $8 5 million [5] - Combined gross sale proceeds from these transactions amounted to $265 8 million [4] Financial Performance - Year-to-date gross proceeds from asset sales approach $310 million [2][6] - The company has generated $191 million of net cash proceeds from these transactions [6] - Brandywine significantly outperformed its original 2024 sales target of $90 0 million and revised sales target of $150 0 million [6] Strategic Objectives - The transactions advance Brandywine’s strategic objectives to improve its competitive position reduce forward capital commitments and generate incremental liquidity for future investments [4] - The proceeds will strengthen the company’s balance sheet and support reinvestment in strategic initiatives that align with its vision and market strategy [6] - Brandywine is committed to redeploying capital in high-quality core markets with significant growth potential while enhancing financial flexibility [6] Property Details - 4040 Wilson has 405 000 square feet of office retail and residential space as well as 494 parking spaces [2] - The property was 96% leased (residential) and 94% leased (commercial) at the time of sale [2] - The Dabney and Brittons Hill portfolio consists of 14 industrial/flex buildings totaling 643 000 square feet and was fully leased at closing [5]

PHILADELPHIA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) today announced the closing of the sale of One and Two Barton Skyway, located at 1501 and 1601 South MoPac Expressway in Southwest Austin, to the City of Austin. The 386,000-square-foot facility, sold for $107.6 million, or $275 per square foot, will serve as a consolidated public safety headquarters. “This transaction is consistent with our capital recycling and portfolio management objectives. This sale both strengthens ou ...

I believe Brandywine Realty Trust (NYSE: BDN ) presents significant upside potential based on cap rate and P/FFO multiple (expansion). While the company is currently managing higher interest expenses and awaiting the materialization of its highly anticipated developments, these challengesI'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 Inves ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _____________________________________________________________________________________________ FORM 10-Q _____________________________________________________________________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities ...

Brandywine Realty Trust (NYSE: BDN ) announced their quarterly results on October 22nd and held their earnings call on the next morning for the third quarter of the year ending on September 30th. The results were a bit mixedI own separate portfolios for separate goals. I have one portfolio where I have nothing but income plays, another portfolio where I have nothing but growth stocks. I also have another portfolio where I run my options plays. I try not to mix different portfolios because they all have diff ...

Financial Data and Key Metrics Changes - The company reported a net loss of $165.5 million or $0.96 per share for Q3 2024, impacted by impairment charges totaling $161.4 million or $0.93 per share [18] - Funds from Operations (FFO) totaled $39.8 million or $0.23 per diluted share, which was one penny below consensus estimates [18] - General and Administrative (G&A) expenses were $12.6 million, $3.6 million above the previous quarter's forecast due to higher non-cash equity compensation amortization [18] - The net debt to EBITDA ratio decreased to 7.5 times, benefiting from operating results and sales activity [12] Business Line Data and Key Metrics Changes - The company executed 298,000 square feet of leases, including 125,000 square feet of new leases within the wholly owned portfolio, exceeding second quarter levels [9] - The leasing pipeline through the company remains strong, with the operating portfolio leasing pipeline standing at 2 million square feet [11] - The residential component of the Schuylkill Yards project has met the year-end target of being over 80% leased [5] Market Data and Key Metrics Changes - The company noted that Austin continues to face near-term challenges, but intermediate-term growth prospects remain strong [7] - Philadelphia has one of the lowest vacancy rates among large cities, with occupancy levels in the wholly owned portfolio at about 94% [7] - The increase in physical tours exceeded second quarter tours by 7% and remained above pre-pandemic levels by 36% [10] Company Strategy and Development Direction - The company focuses on three key areas: liquidity, development lease-up, and portfolio stability [3] - The development pipeline remains strong, with about $1 billion under active development, including a mix of life science, residential, office, and retail projects [14] - The company anticipates that upon stabilization, development projects will generate about a 15.5% increase to the existing income stream [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall market dynamics, noting a clear bifurcation between Class A and Class B properties [26] - The company believes that the quality thesis has real traction, with significant upward rent pressure expected for quality assets [48] - Management acknowledged the need to finalize leases in negotiation to provide quantitative support for project success [48] Other Important Information - The company has increased its sales target to a midpoint of $150 million, with anticipated transactions expected to close in Q4 [13] - The company has no unsecured bond maturities until November 2027, indicating a strong liquidity position [20] - The anticipated cash balances at the end of the year have been positively impacted by increased sales activity [24] Q&A Session All Questions and Answers Question: Demand in Austin and pipeline details - Management indicated that the majority of deals in the pipeline are from tenants already in the Austin market, with significant expansions being accommodated [27][28] Question: Cap rates on dispositions - The blended cash and GAAP cap rate for anticipated sales is expected to be around 8% [30] Question: Uptown ATX pipeline and tenant inquiries - Management confirmed that they are actively pursuing all potential tenants in the market, including those looking for large spaces [32][33] Question: Concessions and leasing environment - Management noted that while concessions vary by market, they have not seen significant increases in Philadelphia, but there is upward pressure on tenant improvement allowances in Austin [36][37] Question: Joint ventures and recapitalization - Most joint ventures have been resolved, with two still in transition expected to be finalized by the end of the year [57] Question: Retention rates and future expectations - The third quarter retention was impacted by a known move-out, but management is confident in meeting the increased retention target for the year [59] Question: Pricing expectations for dispositions - Pricing for marketed assets has remained on track with initial expectations, with no material changes noted [62]

Core Insights - Brandywine Realty Trust reported revenue of $131.78 million for the quarter ended September 2024, reflecting a 1.9% increase year-over-year, but fell short of the Zacks Consensus Estimate of $133.23 million by 1.09% [1] - The company achieved an EPS of $0.23, a significant improvement from -$0.13 in the same quarter last year, but missed the consensus estimate of $0.24 by 4.17% [1] - Key revenue metrics showed mixed results, with rental revenue declining by 3% year-over-year, while other revenue categories experienced notable changes [1] Revenue Breakdown - Revenue from rents was reported at $117.96 million, below the average estimate of $120.69 million from two analysts, indicating a year-over-year decrease of 3% [1] - Revenue from third-party management fees, labor reimbursement, and leasing was $6.09 million, exceeding the average estimate of $5.70 million, but reflecting a year-over-year decline of 7% [1] - Other revenue sources reported $7.73 million, surpassing the estimated $7.31 million, and showing a remarkable year-over-year increase of 567.6% [1] Earnings Performance - The diluted net earnings per share were reported at -$0.96, which was significantly lower than the average estimate of -$0.07 from two analysts [1] Stock Performance - Over the past month, shares of Brandywine Realty Trust have returned +23.6%, outperforming the Zacks S&P 500 composite's +2.8% change [2] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [2]