Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
As of December 31, 2022, the company owned interests in 72 properties containing 12.8 million net rentable square feet.[1]
History
The 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 property portfolio of 68 smaller properties.[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]
External links
References
- 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 Villanova University, February 13, 2020^
- BRANDYWINE REALTY BUYS 23 PROPERTIES FOR $229 MILLION The New York Times, January 7, 1998^
- REIT Buys Office Complex The New York Times, May 13, 1998^
- BRANDYWINE REALTY TO BUY 68 PROPERTIES FROM LAZARD The New York Times, August 7, 1998^
- Prentiss, Brandydwine complete asset swap American City Business Journals, April 11, 2001^
- Natalie Kostelni. Cira Centre passes 90% leased mark American City Business Journals, May 24, 2005^
- Prentiss Properties completes merger with Brandywine American City Business Journals, January 6, 2006^
- Natalie Kostelni. Brandywine Realty Trust to pay $3.3B for Prentiss Properties American City Business Journals, October 3, 2005^
- Natalie Kostelni. Brandywine wraps up big rehab of post office American City Business Journals, September 20, 2010^
- Natalie Kostelni. Brandywine makes $331M Center City office play American City Business Journals, September 5, 2013^
- Natalie Kostelni. Brandywine completes $400M sale American City Business Journals, February 5, 2016^