Brandywine Realty Trust

Brandywine Realty Trust is a real estate investment trust that invests in office buildings in Philadelphia, Washington, D.C., and Austin.

Brandywine Realty Trust
TypePublic
IndustryCommercial Real Estate
Founded1994 (1994)[1]
HeadquartersPhiladelphia, Pennsylvania, U.S.
Key people
Gerard H. Sweeney, CEO & President
Michael J. Joyce, Chairman
Thomas E. Wirth, CFO
ProductsOffice buildings
Revenue US$580 million (2019)
US$34 million (2019)
Total assets US$4.075 billion (2019)
Total equity US$1.677 billion (2019)
Number of employees
337 (2019)
Websitebrandywinerealty.com
Footnotes / references
[1]

As of December 31, 2019, the company owned interests in 173 properties containing 24.3 million net rentable square feet.[1]

History

The company was founded in 1994.[1]

In 1998, the company acquired a portfolio of 23 properties for $229 million,[2] an office park for $48.5 million,[3] and a 68 property portfolio.[4]

In 2001, the company completed an asset exchange with Prentiss Properties Trust.[5]

In 2005, the company completed the development of the Cira Centre, designed by César Pelli, next to Philadelphia's 30th Street Station.[6][7]

In 2006, the company acquired Prentiss Properties Trust for $3.3 billion.[8][9]

In 2010, the company completed the renovation of Cira Square, a former U.S. post office building that was leased to the General Services Administration for occupancy by the Internal Revenue Service.[10]

In 2013, the company acquired Commerce Square for $331.8 million.[11]

In 2016, the company sold a portfolio of 58 office properties for $398.1 million.[12]

References

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