hD

Income Statement Summary

Brandywine Realty Trust (BDN) quarterly income statement covering the six quarters from March 2025 to June 2026, as reported to the SEC.

  • Brandywine Realty Trust reported total revenue of $128.92M in the quarter ended June 30, 2026, up 6.9% from $120.57M a year earlier.
  • That is 1.5% higher than the March 2026 quarter.
  • Operating income was $19.46M, after a loss of $41.33M a year earlier. Operating margin was 15.1%.
  • Net loss was $31.54M, a smaller loss than the $88.94M a year earlier. Net margin was -24.5%.
  • Diluted earnings per share was -$0.18, a smaller loss than the $0.51 a year earlier.
  • General and administrative expenses took 7.2% of total revenue.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data
Jun'26Mar'26Dec'25Sep'25Jun'25Mar'25
Revenue
Total revenue

128,920

127,004

120,950

121,417

120,571

121,516

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

128,920

127,004

120,950

121,417

120,571

121,516

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating expenses
Property operating expenses

38,568

38,526

35,044

31,412

31,365

33,526

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property operating expenses

38,568

38,526

35,044

31,412

31,365

33,526

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

11,681

11,325

9,016

11,647

11,507

11,432

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

11,681

11,325

9,016

11,647

11,507

11,432

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management expenses

2,265

2,168

2,778

2,350

2,484

2,633

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management expenses

2,265

2,168

2,778

2,350

2,484

2,633

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

47,749

49,231

45,308

43,005

43,762

44,353

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

47,749

49,231

45,308

43,005

43,762

44,353

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative expenses

9,263

12,335

7,395

7,841

9,325

17,470

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative expenses

9,263

12,335

7,395

7,841

9,325

17,470

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment

-

11,909

23

-

63,369

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment

-

11,909

23

-

63,369

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total operating expenses

109,526

125,494

99,564

96,255

161,812

109,414

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total operating expenses

109,526

125,494

99,564

96,255

161,812

109,414

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain (loss) on sale of real estate
Net gain (loss) on disposition of real estate

63

-

6,388

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain (loss) on disposition of real estate

63

-

6,388

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain (loss) on sale of undepreciated real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain (loss) on sale of undepreciated real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total gain (loss) on sale of real estate

63

-

6,242

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total gain (loss) on sale of real estate

63

-

6,242

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income (loss)

19,457

1,510

27,628

25,197

-41,327

15,161

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income (loss)

19,457

1,510

27,628

25,197

-41,327

15,161

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income (expense):
Interest and investment income

1,068

666

-

1,238

850

1,186

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

1,068

666

-

1,238

850

1,186

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

41,931

40,889

37,851

32,914

32,345

31,845

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

41,931

40,889

37,851

32,914

32,345

31,845

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax credit transaction income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax credit transaction income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest Expense, Debt

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest Expense, Debt

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense - amortization of deferred financing costs

1,345

1,387

1,356

1,336

1,197

1,230

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense - amortization of deferred financing costs

1,345

1,387

1,356

1,336

1,197

1,230

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Recognized hedge activity

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Recognized hedge activity

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-8,738

-8,702

-14,155

-18,183

-14,832

-10,511

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-8,738

-8,702

-14,155

-18,183

-14,832

-10,511

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain from remeasurement of investments in real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain from remeasurement of investments in real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain from remeasurement of investments in real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain from remeasurement of investments in real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on real estate venture transactions

-

-

-

-

-

183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on real estate venture transactions

-

-

-

-

-

183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on real estate venture transactions

-

-

-

-

-

183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on real estate venture transactions

-

-

-

-

-

183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on early extinguishment of debt

-24

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on early extinguishment of debt

-24

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss before income taxes

-31,513

-48,802

-36,850

-25,998

-88,851

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss before income taxes

-31,513

-48,802

-36,850

-25,998

-88,851

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax provision

22

2

27

-

85

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax provision

22

2

27

-

85

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment on assets held for sale/sold

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment on assets held for sale/sold

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income (loss) from continuing operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income (loss) from continuing operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations:
Income from discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income from discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on disposition of discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on disposition of discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-31,535

-48,804

-36,877

-25,998

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-31,535

-48,804

-36,877

-25,998

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net (income) loss attributable to non-controlling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net (income) loss attributable to non-controlling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income from discontinued operations attributable to non-controlling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income from discontinued operations attributable to non-controlling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to noncontrolling interests - consolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to noncontrolling interests - consolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net (income) loss attributable to non-controlling interests  LP units

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net (income) loss attributable to non-controlling interests  LP units

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to noncontrolling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to noncontrolling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Brandywine Realty Trust

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Brandywine Realty Trust

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends, Preferred Stock

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends, Preferred Stock

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred Stock Redemption Premium

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred Stock Redemption Premium

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Nonforfeitable dividends allocated to unvested restricted unitholders

248

318

167

313

322

429

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Nonforfeitable dividends allocated to unvested restricted unitholders

248

318

167

313

322

429

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P.

-31,658

-48,909

-36,851

-26,232

-88,991

-27,404

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P.

-31,658

-48,909

-36,851

-26,232

-88,991

-27,404

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic income per Common Share:
Basic income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (USD per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (USD per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic loss per Common Partnership Unit (in dollars per share)

-0.18

-0.28

-0.21

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic loss per Common Partnership Unit (in dollars per share)

-0.18

-0.28

-0.21

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income per Common Share:
Discontinued operations (USD per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (USD per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted loss per Common Share (in dollars per share)

-0.18

-0.28

-0.21

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted loss per Common Share (in dollars per share)

-0.18

-0.28

-0.21

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic weighted average common partnership units outstanding (in shares)

174,384

173,756

173,710

173,699

173,532

172,915

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic weighted average common partnership units outstanding (in shares)

174,384

173,756

173,710

173,699

173,532

172,915

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted weighted average common partnership units outstanding (in shares)

174,384

173,756

173,710

173,699

173,532

172,915

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted weighted average common partnership units outstanding (in shares)

174,384

173,756

173,710

173,699

173,532

172,915

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total continuing operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total continuing operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total discontinued operations

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss) attributable to Brandywine Realty Trust

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss) attributable to Brandywine Realty Trust

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss)

-31,535

-48,804

-36,877

-25,998

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss)

-31,535

-48,804

-36,877

-25,998

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions declared per Common Share

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions declared per Common Share

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

BRANDYWINE OPERATING PARTNERSHIP, L.P.
Rents

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Rents

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tenant reimbursements

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tenant reimbursements

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Termination fees

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Termination fees

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management fees, labor reimbursement and leasing

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management fees, labor reimbursement and leasing

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property operating expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property operating expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total operating expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total operating expenses

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on disposition of real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on disposition of real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on sale of undepreciated real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on sale of undepreciated real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total gain on sale of real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total gain on sale of real estate

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income (loss)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income (loss)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest Expense, Debt

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest Expense, Debt

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense - amortization of deferred financing costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense - amortization of deferred financing costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on real estate venture transactions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on real estate venture transactions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain (loss) on early extinguishment of debt

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain (loss) on early extinguishment of debt

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss) before income taxes

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss) before income taxes

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax provision

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax provision

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net (income) loss attributable to noncontrolling interests - consolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net (income) loss attributable to noncontrolling interests - consolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Income (Loss) Attributable to Parent

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Income (Loss) Attributable to Parent

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Brandywine Operating Partnership, L.P.

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Brandywine Operating Partnership, L.P.

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends, Preferred Stock

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends, Preferred Stock

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred Stock Redemption Premium

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred Stock Redemption Premium

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Nonforfeitable dividends allocated to unvested restricted shareholders

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Nonforfeitable dividends allocated to unvested restricted shareholders

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss) attributable to common shareholders, Basic

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income (loss) attributable to common shareholders, Basic

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic income (loss) per Common Share (in dollars per shares)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic income (loss) per Common Share (in dollars per shares)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income (loss) per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted income (loss) per Common Share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic weighted average shares outstanding (in shares)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic weighted average shares outstanding (in shares)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted weighted average shares outstanding (in shares)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted weighted average shares outstanding (in shares)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions declared per Common Share

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions declared per Common Share

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Termination Fees [Member]
Lease revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tenant Reimbursements [Member]
Service and other revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Service and other revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Rents
Total revenue

122,698

120,657

114,138

114,742

114,196

114,428

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

122,698

120,657

114,138

114,742

114,196

114,428

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management fees, labor reimbursement and leasing
Total revenue

4,063

4,725

5,087

4,540

4,873

5,829

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

4,063

4,725

5,087

4,540

4,873

5,829

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other
Total revenue

2,159

1,622

1,725

2,135

1,502

1,259

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

2,159

1,622

1,725

2,135

1,502

1,259

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Brandywine Operating Partnership, L.P.
Total revenue

128,920

127,004

-

121,417

120,571

121,516

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenue

128,920

127,004

-

121,417

120,571

121,516

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property operating expenses

38,568

38,526

-

31,412

31,365

33,526

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property operating expenses

38,568

38,526

-

31,412

31,365

33,526

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

11,681

11,325

-

11,647

11,507

11,432

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

11,681

11,325

-

11,647

11,507

11,432

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management expenses

2,265

2,168

-

2,350

2,484

2,633

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third party management expenses

2,265

2,168

-

2,350

2,484

2,633

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

47,749

49,231

-

43,005

43,762

44,353

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

47,749

49,231

-

43,005

43,762

44,353

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative expenses

9,263

12,335

-

7,841

9,325

17,470

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative expenses

9,263

12,335

-

7,841

9,325

17,470

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment

-

11,909

-

-

63,369

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for impairment

-

11,909

-

-

63,369

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total operating expenses

109,526

125,494

-

96,255

161,812

109,414

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total operating expenses

109,526

125,494

-

96,255

161,812

109,414

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain (loss) on disposition of real estate

63

-

-

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain (loss) on disposition of real estate

63

-

-

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total gain (loss) on sale of real estate

63

-

-

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total gain (loss) on sale of real estate

63

-

-

35

-86

3,059

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income (loss)

19,457

1,510

-

25,197

-41,327

15,161

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income (loss)

19,457

1,510

-

25,197

-41,327

15,161

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

1,068

666

-

1,238

850

1,186

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and investment income

1,068

666

-

1,238

850

1,186

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

41,931

40,889

-

32,914

32,345

31,845

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

41,931

40,889

-

32,914

32,345

31,845

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense - amortization of deferred financing costs

1,345

1,387

-

1,336

1,197

1,230

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense - amortization of deferred financing costs

1,345

1,387

-

1,336

1,197

1,230

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-8,738

-8,702

-

-18,183

-14,832

-10,511

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-8,738

-8,702

-

-18,183

-14,832

-10,511

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on real estate venture transactions

-

-

-

-

-

183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net gain on real estate venture transactions

-

-

-

-

-

183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on early extinguishment of debt

-24

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on early extinguishment of debt

-24

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss before income taxes

-31,513

-48,802

-

-25,998

-88,851

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss before income taxes

-31,513

-48,802

-

-25,998

-88,851

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax provision

22

2

-

-

85

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax provision

22

2

-

-

85

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-31,535

-48,804

-

-25,998

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-31,535

-48,804

-

-25,998

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to noncontrolling interests - consolidated real estate ventures

-30

-67

-

-1

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to noncontrolling interests - consolidated real estate ventures

-30

-67

-

-1

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Brandywine Operating Partnership, L.P.

-31,505

-48,737

-

-25,997

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Brandywine Operating Partnership, L.P.

-31,505

-48,737

-

-25,997

-88,936

-27,056

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Nonforfeitable dividends allocated to unvested restricted unitholders

248

318

-

313

322

429

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Nonforfeitable dividends allocated to unvested restricted unitholders

248

318

-

313

322

429

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P.

-31,753

-49,055

-

-26,310

-89,258

-27,485

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P.

-31,753

-49,055

-

-26,310

-89,258

-27,485

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic loss per Common Partnership Unit (in dollars per share)

-0.18

-0.28

-

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic loss per Common Partnership Unit (in dollars per share)

-0.18

-0.28

-

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted loss per Common Share (in dollars per share)

-0.18

-0.28

-

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted loss per Common Share (in dollars per share)

-0.18

-0.28

-

-0.15

-0.51

-0.16

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic weighted average common partnership units outstanding (in shares)

174,900

174,272

-

174,214

174,048

173,431

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic weighted average common partnership units outstanding (in shares)

174,900

174,272

-

174,214

174,048

173,431

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted weighted average common partnership units outstanding (in shares)

174,900

174,272

-

174,214

174,048

173,431

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted weighted average common partnership units outstanding (in shares)

174,900

174,272

-

174,214

174,048

173,431

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

MAP Venture
Equity in loss of unconsolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in loss of unconsolidated real estate ventures

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx