Brandywine Realty Trust Generates $137 Million of Asset Sales as Part of Strategic Disposition Program

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]