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Brandywine Realty Trust

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Brandywine Realty Trust
Company typePublic
NYSE: BDN
IndustryReal Estate Investment Trust
Real Estate Development
Property Management
Founded1986
HeadquartersRadnor, Pennsylvania, U.S.
Key people
Gerard H. Sweeney
President & Chief Executive Officer
RevenueIncreaseUS$570M (FY 2010)[1]
DecreaseUS$-17.1M (FY 2010)[1]
Total assetsIncreaseUS$4.69B (FY 2010)[2]
Total equityDecreaseUS$1.85B (FY 2010)[2]
Websitewww.brandywinerealty.com

Brandywine Realty Trust is a real estate investment trust (REIT) in the United States that buys, sells, leases and manages about 225 commercial properties, up to 25 industrial parcels of land, mixed-use property, and more than 200 acres (0.81 km2) of undeveloped parcels. They also offer construction and development services to other property owners. Founded in 1986, the company is headquartered in Radnor, Pennsylvania, and maintains regional offices in Pennsylvania, Metro DC, New Jersey, Richmond, Delaware, Texas, Northern California, and Southern California.

In 2006, Brandywine bought Prentiss Properties Trust for $3.3 billion, more than doubling its holdings.[3] In November 2005, Brandywine opened the Cira Centre (designed by César Pelli) next to Philadelphia's 30th Street Station, on land leased from Amtrak.[4][5] The second phase of the Cira Centre project, the $252 million rehabilitation of Philadelphia’s 30th Street Post Office, was completed in August 2010 and will serve as the new home of the IRS in Philadelphia.[6] The third phase of the project, Cira Centre South, is to be completed in 2012. During 2010, Brandywine increased its holdings in Center City, Philadelphia by acquiring the Bell Atlantic Tower, a 53-story pink-tinged office tower that has been rebranded as Three Logan Square, and by becoming minority owners of Commerce Square, two 41-story office towers on Market Street, along with Thomas Properties Group.[7][8][9][10]

References

  1. ^ a b Brandywine Realty Trust (BDN) annual SEC income statement filing via Wikinvest.
  2. ^ a b Brandywine Realty Trust (BDN) annual SEC balance sheet filing via Wikinvest.
  3. ^ Holusha, John (October 4, 2005). "Eastern REIT Will Acquire One in Texas". New York Times. Retrieved 2010-10-05.
  4. ^ Wong, Elaine (November 8, 2005). "Cira Centre Opens Doors to Commercial Tenants". The Daily Pennsylvanian. Retrieved 2010-10-05.
  5. ^ Milford, Maureen (March 16, 2005). "Philadelphians Take In Rare Sight: A Tower Rising". New York Times. Retrieved 2010-10-05.
  6. ^ Kostelni, Natalie (September 17, 2010). "Brandywine Wraps Up Big Rehab of Post Office". Philadelphia Business Journal. Retrieved 2010-09-27.
  7. ^ Mondics, Chris (August 6, 2010). "Bell Atlantic Tower Sold to Brandywine Realty Trust". The Philadelphia Inquirer. Retrieved 2010-08-24.
  8. ^ Kostelni, Natalie (August 6, 2010). "Brandywine Realty Trust Buys Bell Atlantic Tower from Blackstone Affiliate". Philadelphia Business Journal. Retrieved 2010-08-24.
  9. ^ DiStefano, Joseph N. (August 26, 2010). "Philly Deals: Brandywine Realty Trust Invests More in Center City". The Philadelphia Inquirer. Retrieved 2010-09-27.
  10. ^ Kostelni, Natalie (October 1, 2010). "Arch Street High-Rise Has Yet Another Name". Philadelphia Business Journal. Retrieved 2010-10-01.
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