Gabrielle Horvath's questions to Brandywine Realty Trust (BDN) leadership • Q3 2024
Question
Gabrielle Horvath, on for Upal Rana, asked about the company's strategic plans for the Washington D.C. market and its approach to reducing exposure there. She also requested color on known future move-outs and the prospects for positive absorption.
Answer
Executive Jerry Sweeney stated that D.C. is not a growth market and the plan is to sell the remaining wholly-owned assets there over the next few years as market conditions permit. Executive Vice President of Operations George Johnstone added that forward lease rollover is extremely low and that recent backfilling activity for a move-out suggests occupancy has troughed and bodes well for future gains.