Start Time: 09:00 January 1, 0000 10:04 AM ET Brandywine Realty Trust (NYSE:BDN) Q4 2024 Earnings Conference Call February 05, 2025, 09:00 AM ET Company Participants Gerry Sweeney - President and CEO Tom Wirth - EVP and CFO George Johnstone - EVP, Operations Dan Palazzo - SVP and CAO Conference Call Participants Steve Sakwa - Evercore ISI Anthony Paolone - JPMorgan Dylan Burzinski - Green Street Upal Rana - KeyBanc Capital Markets Michael Lewis - Truist Securities Michael Griffin - Citi Operator Good day, a ...

For the quarter ended December 2024, Brandywine Realty Trust (BDN) reported revenue of $121.91 million, down 6.4% over the same period last year. EPS came in at $0.17, compared to -$0.91 in the year-ago quarter.The reported revenue represents a surprise of -5.60% over the Zacks Consensus Estimate of $129.14 million. With the consensus EPS estimate being $0.24, the EPS surprise was -29.17%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

PHILADELPHIA, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and twelve-month periods ended December 31, 2024. Management Comments "We accomplished or exceeded many of our full year 2024 business plan objectives including speculative revenue, tenant retention, our same store NOI results and rental rate mark-to-markets," stated Jerry Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. "In addition to ...

PHILADELPHIA, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) today reported its financial and operating results for the three and twelve-month periods ended December 31, 2024. Management Comments “We accomplished or exceeded many of our full year 2024 business plan objectives including speculative revenue, tenant retention, our same store NOI results and rental rate mark-to-markets,” stated Jerry Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. “In addition to ...

Growing asset management firm chooses to stay in Philadelphia after extensive searchPHILADELPHIA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) and FS Investments today announced they have entered into a 117,000 square foot, 16-year lease for the Philadelphia-based alternative asset manager’s new global headquarters at 3025 JFK Blvd. in Philadelphia’s dynamic new neighborhood, Schuylkill Yards. FS Investments is one of Philadelphia’s fastest growing companies and is helping Philadelp ...

PHILADELPHIA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) and FS Investments today announced they have entered into a 117,000 square foot, 16-year lease for the Philadelphia-based alternative asset manager's new global headquarters at 3025 JFK Blvd. in Philadelphia's dynamic new neighborhood, Schuylkill Yards. FS Investments is one of Philadelphia's fastest growing companies and is helping Philadelphia reestablish its reputation as a home to leading financial services firms. With ov ...

PHILADELPHIA, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) announced today the tax characteristics of its 2024 distributions. The tax reporting will be done on Form 1099-DIV and shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of dividends. The characteristics of the Company’s distributions are as follows: Common Shares of Beneficial Interest (CUSIP 105368203) 2024 Dividend DatesRecord 1/4Payment 1/18Record 4/4Payment 4/18Recor ...

Leasing Activity - The company executed 650,000 square feet of leasing activity since last quarter, with Q4 2024 being the highest in 2024 and 18% higher than Q4 2023 [2] - Total leasing activity for 2024 reached 2.2 million square feet with a weighted average lease term of 9.4 years [2] - Over 82% of new leasing activity came from tenants moving to higher quality space, reinforcing the strength of the core portfolio [3] Portfolio and Strategy - The core portfolio remains a solid foundation, with robust leasing in existing assets and progress in development projects [3] - Larger tenant requirements are targeting 2026 occupancy, likely stabilizing commercial development projects by 2026 [3] - The company's mixed-use strategy is designed to capture future growth as the office market stabilizes [4] Company Overview - Brandywine Realty Trust is one of the largest publicly traded, full-service, integrated real estate companies in the US, focusing on the Philadelphia and Austin markets [5] - The company owns, develops, leases, and manages a portfolio of 147 properties totaling 21.1 million square feet as of September 30, 2024 [5] Management Commentary - The CEO highlighted the leasing momentum as a reflection of the strength of high-quality assets and the appeal of mixed-use developments [4] - The company's strategy of curating mixed-use environments is expected to drive long-term value creation [4]

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]

PHILADELPHIA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) today announced the closing of the sale of One and Two Barton Skyway, located at 1501 and 1601 South MoPac Expressway in Southwest Austin, to the City of Austin. The 386,000-square-foot facility, sold for $107.6 million, or $275 per square foot, will serve as a consolidated public safety headquarters. “This transaction is consistent with our capital recycling and portfolio management objectives. This sale both strengthens ou ...