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, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), they own, develop, lease and manage an urban, town center and transit-oriented portfolio.
As of March 31, 2018, the company's portfolio consists of 185 properties containing 25.3 million net rentable square feet.
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History
The company was founded in 1994.
In 1998, the company acquired a portfolio of 23 properties for $229 million, an office park for $48.5 million, and a 68 property portfolio.
In 2001, the company completed an asset exchange with Prentiss Properties Trust.
In 2005, the company completed the development of the Cira Centre, designed by César Pelli, next to Philadelphia's 30th Street Station.
In 2006, the company acquired Prentiss Properties Trust for $3.3 billion.
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. The company also acquired Three Logan Square from an affiliate of The Blackstone Group for $129 million.
In 2013, the company bought Commerce Square for $331.8 million. The company also bought the ground lease for Cira Center from Amtrak.
In 2014, the company acquired a 320,000-square-foot office complex in Austin, Texas for $14 million.
In 2015, the company bought a 50% interest in an office park in Austin, Texas from IBM from $211.4 million. The company also sold an office building in Mount Laurel, New Jersey for $16.5 million.
In 2016, the company sold the Residence Inn Philadelphia Conshohocken hotel for $26.5 million, a portfolio of 58 office properties for $398.1 million, and Cira Square for $354 million,
In 2017, the company sold 5 acres of waterfront property in Philadelphia to the Durst Organization for $21.4 million. The company also acquired a building in Philadelphia for $32 million.
Maps Brandywine Realty Trust
References
External links
Source of article : Wikipedia
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