Brandywine Realty Trust is a Philadelphia-based real estate investment trust that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
| Company type | Public |
|---|---|
| Industry | Real estate investment trust |
| Founded | 1994[1] |
| Headquarters | 2929 Arch St., Suite 1800, Philadelphia, Pennsylvania, U.S. |
Key people | Gerard H. Sweeney, CEO & President Michael J. Joyce, Chairman Thomas E. Wirth, CFO |
| Products | Office buildings |
| Revenue |  US$506 million (2022) |
| US$53 million (2022) | |
| Total assets | US$3.874 billion (2022) |
| Total equity |  US$1.633 billion (2022) |
Number of employees | 334 (2022) |
| Website | brandywinerealty |
| Footnotes / references [1] | |
As of December 31, 2022, the company owned interests in 72 properties containing 12.8 million net rentable square feet.[1]
History
editThe company was founded in 1994 by Jerry Sweeney.[2]
In 1998, the company acquired a portfolio of 23 properties for $229 million,[3] an office park for $48.5 million,[4] and a 68 property portfolio.[5]
In 2001, the company completed an asset exchange with Prentiss Properties Trust.[6]
In May 2005, the company completed the development of the Cira Centre, designed by César Pelli, next to Philadelphia's 30th Street Station.[7]
In January 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
edit- ^ a b c "Brandywine Realty Trust 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Gerard H. Sweeney, President, CEO and Trustee of Brandywine Realty Trust Named Honoree for Villanova's Celebration of Excellence in Real Estate" (Press release). Villanova University. February 13, 2020.
- ^ "BRANDYWINE REALTY BUYS 23 PROPERTIES FOR $229 MILLION". The New York Times. Dow Jones & Company. January 7, 1998.
- ^ "REIT Buys Office Complex". The New York Times. Dow Jones & Company. May 13, 1998.
- ^ "BRANDYWINE REALTY TO BUY 68 PROPERTIES FROM LAZARD". The New York Times. Bloomberg News. August 7, 1998.
- ^ "Prentiss, Brandydwine complete asset swap". American City Business Journals. April 11, 2001.
- ^ Kostelni, Natalie (May 24, 2005). "Cira Centre passes 90% leased mark". American City Business Journals.
- ^ "Prentiss Properties completes merger with Brandywine". American City Business Journals. January 6, 2006.
- ^ Kostelni, Natalie (October 3, 2005). "Brandywine Realty Trust to pay $3.3B for Prentiss Properties". American City Business Journals.
- ^ Kostelni, Natalie (September 20, 2010). "Brandywine wraps up big rehab of post office". American City Business Journals.
- ^ Kostelni, Natalie (September 5, 2013). "Brandywine makes $331M Center City office play". American City Business Journals.
- ^ Kostelni, Natalie (February 5, 2016). "Brandywine completes $400M sale". American City Business Journals.
External links
edit- Business data for Brandywine Realty Trust: