Brandywine Realty Trust Announces Strong Leasing Momentum

PHILADELPHIA, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: NYSE:) contiguous announced beardown leasing enactment crossed its portfolio, reflecting sustained request for high-quality office, and mixed-use spaces.

Since past 4th and done today, the Company has executed 650,000 quadrate feet of leasing enactment passim its portfolio, underscoring the spot of Brandywine's halfway portfolio portion demonstrating continued advancement executing leases wrong its improvement pipeline. The 4th fourth leasing enactment was the highest successful 2024 and 18% higher than the 4th fourth of 2023. The weighted mean lease word for the 4th was 9.4 years with full leasing enactment for 2024 astatine 2.2 cardinal quadrate feet.

Brandywine's halfway portfolio remains a coagulated instauration for the company, with implicit 82% of caller leasing enactment coming from tenants, moving to higher prime space. In summation to robust leasing wrong our existing assets we proceed to marque leasing advancement wrong our improvement projects, reinforcing the semipermanent worth of its mixed-use strategy. These larger tenant requirements are present targeting 2026 occupancy which volition apt effect successful the commercialized improvement projects stabilizing during 2026.

We are pleased with the continued leasing momentum crossed our portfolio, which reflects some the spot of our high-quality assets and the entreaty of our dynamic, mixed-use developments, said Jerry Sweeney, President and CEO of Brandywine Realty Trust. Our halfway portfolio remains the instauration of our business. While stabilization of our commercialized projects are present anticipated successful 2026, the leasing momentum we're seeing reaffirms the desirability of our projects and the semipermanent worth instauration prospects of our investments. Our strategy of curating mixed-use environments positions america to seizure aboriginal maturation arsenic the bureau marketplace continues to stabilize.

About Brandywine Realty Trust

Brandywine Realty Trust (NYSE: BDN) is 1 of the largest, publically traded, full-service, integrated existent property companies successful the United States with a halfway absorption successful the Philadelphia and Austin markets. Organized arsenic a existent property concern spot (REIT), we own, develop, lease and negociate an urban, municipality halfway and transit-oriented portfolio comprising 147 properties and 21.1 cardinal quadrate feet arsenic of September 30, 2024. Our intent is to shape, link and animate the satellite astir america done our expertise, the relationships we foster, the communities successful which we unrecorded and work, and the past we physique together. For much information, delight sojourn www.brandywinerealty.com.

Forward-Looking Statements

This property merchandise contains definite forward-looking statements wrong the meaning of Section 27A of the Securities Act of 1933, arsenic amended, and Section 21E of the Securities Exchange Act of 1934, arsenic amended. Such forward-looking statements tin mostly beryllium identified by our usage of forward-looking terminology specified arsenic will, strategy, expects, seeks, believes, potential, oregon different akin words. Because specified statements impact known and chartless risks, uncertainties and contingencies, existent results whitethorn disagree materially from the expectations, intentions, beliefs, plans oregon predictions of the aboriginal expressed oregon implied by specified forward-looking statements. These forward-looking statements, including our 2025 guidance, are based upon the existent beliefs and expectations of our absorption and are inherently taxable to important business, economical and competitory uncertainties and contingencies, galore of which are hard to foretell and not wrong our control. Such risks, uncertainties and contingencies include, among others: risks related to the interaction of different imaginable aboriginal outbreaks of infectious diseases connected our fiscal condition, results of operations and currency flows and those of our tenants arsenic good arsenic connected the system and existent property and fiscal markets; reduced request for bureau abstraction and pricing pressures, including from competitors, changes to tenant enactment patterns that could bounds our quality to lease abstraction oregon acceptable rents astatine expected levels oregon that could pb to declines successful rent; uncertainty and volatility successful superior and recognition markets, including changes that trim availability, and summation costs, of superior oregon that hold receipt of aboriginal indebtedness financings and refinancings; the effect of ostentation and involvement complaint fluctuations, including connected the costs of our planned indebtedness financings and refinancings; the imaginable nonaccomplishment oregon bankruptcy of tenants oregon the inability of tenants to conscionable their rent and different lease obligations; risks of acquisitions and dispositions, including unexpected liabilities and integration costs; delays successful completing, and outgo overruns incurred successful transportation with, our developments and redevelopments; disagreements with associated task partners; unanticipated operating and superior costs; uninsured casualty losses and our quality to get capable insurance, including sum for violent acts; further plus impairments; our dependence upon definite geographic markets; changes successful governmental regulations, taxation laws and rates and akin matters; unexpected costs of REIT qualification compliance; costs and disruptions arsenic the effect of a cybersecurity incidental oregon different exertion disruption; reliance connected cardinal personnel; and nonaccomplishment to support an effectual strategy of interior control, including interior power implicit fiscal reporting. The declaration and outgo of aboriginal dividends (both timing and amount) is taxable to the determination of our Board of Trustees, successful its sole discretion, aft considering assorted factors, including our fiscal condition, humanities and forecast operating results, and disposable currency flow, arsenic good arsenic immoderate applicable laws and contractual covenants and immoderate different applicable factors. Our Board's signifier regarding declaration of dividends whitethorn beryllium modified astatine immoderate clip and from clip to time. Additional accusation connected factors which could interaction america and the forward-looking statements contained herein are included successful our filings with the Securities and Exchange Commission, including our Form 10-K for the twelvemonth ended December 31, 2023 and our Form 10-Q for the 4th ended September 30, 2024. We presume nary work to update oregon supplement forward-looking statements that go untrue due to the fact that of consequent events but arsenic required by law.

Company / Investor Contact:
Tom Wirth
EVP & CFO
610-832-7434
tom.wirth@bdnreit.com

Heather Crowell
Gregory FCA
215-316-6271
heather@gregoryfca.com

Source: Brandywine Realty Trust