Earnings summaries and quarterly performance for BRANDYWINE REALTY TRUST.
Executive leadership at BRANDYWINE REALTY TRUST.
Gerard H. Sweeney
Detailed
President and Chief Executive Officer
CEO
Daniel Palazzo
Detailed
Senior Vice President, Chief Accounting Officer and Treasurer
George D. Johnstone
Detailed
Executive Vice President, Operations
H. Jeffrey DeVuono
Detailed
Executive Vice President, Senior Managing Director, Life Sciences
Shawn Neuman
Detailed
Senior Vice President, General Counsel and Secretary
Thomas E. Wirth
Detailed
Executive Vice President and Chief Financial Officer
William D. Redd
Detailed
Executive Vice President and Senior Managing Director for the Austin and Metro DC Regions
Board of directors at BRANDYWINE REALTY TRUST.
Research analysts who have asked questions during BRANDYWINE REALTY TRUST earnings calls.
Dylan Burzinski
Green Street Advisors, LLC
6 questions for BDN
Also covers: AAT, ALX, ARE +11 more
Anthony Paolone
JPMorgan Chase & Co.
4 questions for BDN
Also covers: ARE, BNL, BXP +29 more
Upal Rana
KeyBanc Capital Markets
4 questions for BDN
Also covers: ADC, BNL, BXP +9 more
Michael Lewis
Truist Securities, Inc.
3 questions for BDN
Also covers: ALX, BXP, CHCT +12 more
Omotayo Okusanya
Deutsche Bank AG
3 questions for BDN
Also covers: AMH, ARE, BRX +40 more
Seth Bergey
Citi
3 questions for BDN
Also covers: AHR, CBRE, CDP +15 more
Steve Sakwa
Evercore ISI
3 questions for BDN
Also covers: ALX, AMH, AVB +31 more
Manus Ebbecke
Evercore ISI
2 questions for BDN
Michael Griffin
Citigroup Inc.
2 questions for BDN
Also covers: AHR, ALX, ARE +32 more
Gabrielle Horvath
KeyBanc Capital Markets Inc.
1 question for BDN
Magnus Ebeck
Evercore ISI
1 question for BDN
Seth Berge
Citigroup
1 question for BDN
Also covers: BXP, CBRE, CDP +4 more
Upal Dhananjay Rana
KeyBanc Capital Markets Inc.
1 question for BDN
Also covers: BXP
Recent press releases and 8-K filings for BDN.
Brandywine Realty Trust Reports Q3 2025 Results and Updates Guidance
BDN
Earnings
Guidance Update
Dividends
- Brandywine Realty Trust reported a Q3 2025 net loss of $26.2 million or $0.15 per share and FFO of $28 million or $0.16 per diluted share.
- The company executed over 99% of its spec revenue target and achieved a 68% tenant retention rate for the quarter, with occupancy at 88.8% and leased at 90.4%.
- BDN successfully issued $300 million of bonds due January 2031 at an effective yield of 6.125%, using $245 million of the proceeds to repay a secured CMBS loan due in 2028, and has no unsecured bonds maturing until November 2027.
- The company adjusted its 2025 guidance with a 10% midpoint reduction, primarily due to $0.07 per share in transaction costs from the CMBS loan repayment and $0.04 per share from delays in development project recapitalization.
- The board decided to reduce the dividend to conserve $50 million of cash flow, aiming for a sustainable payout ratio given the high cost of external capital and shareholder support for capital conservation.
Oct 23, 2025, 1:00 PM
Brandywine Realty Trust Reports Q3 2025 Results, Lowers Dividend, and Refinances Debt
BDN
Earnings
Dividends
Debt Issuance
- Brandywine Realty Trust reported a net loss of $26.2 million or $0.15 per share and Funds From Operations (FFO) of $28 million or $0.16 per diluted share for Q3 2025.
- The board lowered the quarterly dividend from $0.15 per share to $0.08 per share, aiming for a more sustainable CAD payout ratio and to generate $50 million of internal capital for reinvestment.
- The company issued $300 million of bonds at an effective yield of 6.125% and used $245 million of the proceeds to repay a secured CMBS loan due in 2028, with no unsecured bonds maturing until November 2027.
- Q3 2025 operational highlights included a 68% tenant retention rate, 343,000 sq ft of leasing activity, and ending the quarter 88.8% occupied and 90.4% leased.
- BDN exceeded its 2025 asset sales target, selling $73 million of properties at an average cap rate of 6.9%.
Oct 23, 2025, 1:00 PM
Brandywine Operating Partnership Closes $300 Million Notes Offering
BDN
Debt Issuance
- Brandywine Operating Partnership, L.P. closed an underwritten public offering of $300 million of its 6.125% guaranteed notes due 2031 on October 3, 2025.
- The offering generated approximately $296.3 million in net proceeds after deducting underwriting discount and estimated transaction expenses.
- The Operating Partnership intends to use these proceeds to repay its consolidated secured debt and for general corporate purposes, which may include the repayment or retirement of other indebtedness.
Oct 3, 2025, 8:10 PM
Brandywine Realty Trust's Operating Partnership Closes $300 Million Notes Offering
BDN
Debt Issuance
- Brandywine Operating Partnership, L.P., the operating partnership of Brandywine Realty Trust, has closed an underwritten public offering of $300 million of its 6.125% guaranteed notes due 2031.
- The net proceeds from the offering are intended to repay consolidated secured debt and for general corporate purposes, which may include the repayment of other indebtedness.
Oct 3, 2025, 2:56 PM
Brandywine Realty Trust's Operating Partnership Prices $300 Million in Notes
BDN
Debt Issuance
- Brandywine Operating Partnership, L.P., the operating partnership of Brandywine Realty Trust, priced an underwritten public offering of $300 million of its 6.125% guaranteed notes due 2031.
- The notes were offered to investors at 100% of their principal amount and will pay interest semi-annually, commencing January 15, 2026.
- The offering is expected to close on October 3, 2025, with estimated net proceeds of approximately $296.3 million.
- The Operating Partnership intends to use the net proceeds to repay consolidated secured debt and for general corporate purposes, which may include the retirement of other indebtedness.
Sep 30, 2025, 2:52 PM
Brandywine Realty Trust Discusses Market Dynamics, Development, and Financial Strategy at 2025 Investor Conference
BDN
New Projects/Investments
Dividends
Debt Issuance
- Brandywine Realty Trust (BDN), an office REIT, generates 80% of its net operating income from Greater Philadelphia and 20% from Austin, managing a 12 million square foot portfolio.
- The company maintains strong liquidity with nearly $600 million and no bond maturities until late 2027, having sold $300 million in properties last year and targeting $50 million in sales this year.
- While its CBD Philadelphia office portfolio is 96% leased at record rents, the Austin market faces challenges with occupancy at 75% leased (down from 95% pre-pandemic), leading to property sales.
- Brandywine's nearly $1 billion development pipeline is focused on leasing up existing projects, and its goal to increase life science exposure from 8% to 25% is progressing slower than anticipated due to market conditions.
- The company's 2025 dividend is projected to be under-covered, but management expects to achieve full coverage by the end of 2026 through lease-up and other initiatives, while also aiming to return to an investment grade rating.
Aug 25, 2025, 8:34 PM
Brandywine Realty Trust's Operating Partnership Prices Debt Offering
BDN
Debt Issuance
- Brandywine Operating Partnership, L.P. priced an underwritten public offering of $150 million of its 8.875% guaranteed notes due 2029.
- The notes were offered at a price of 106.000% of their principal amount, with a re-offer yield of 7.039%.
- The offering was expected to close on June 27, 2025.
- Net proceeds of approximately $157 million are intended to repay outstanding borrowings under the $600 million unsecured revolving credit facility, fund a partial repayment of secured debt, and for general corporate purposes.
- Upon completion of the offering, the aggregate principal amount of the Operating Partnership's 8.875% Guaranteed Notes due 2029 outstanding will total $550.0 million.
Jun 20, 2025, 12:00 AM
Brandywine Realty Trust Operating Partnership Prices Notes Offering
BDN
Debt Issuance
- Brandywine Operating Partnership, L.P. priced an underwritten public offering of $150 million of its 8.875% guaranteed notes due 2029.
- The notes were offered to investors at a re-offer yield of 7.039%, with the sale expected to close on June 27, 2025.
- The offering is anticipated to generate approximately $148 million in net proceeds.
- The Operating Partnership plans to use the net proceeds to repay outstanding borrowings under its $600 million unsecured revolving credit facility, fund a partial repayment of secured debt, and for general corporate purposes.
Jun 17, 2025, 10:02 PM
Quarterly earnings call transcripts for BRANDYWINE REALTY TRUST.
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