Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation Disclosure

BRANDYWINE REALTY TRUST AND BRANDYWINE OPERATING PARTNERSHIP, L.P.

Schedule III

Real Estate and Accumulated Depreciation — December 31, 2019

(in thousands)

					Initial Cost							Gross Amount Which Carried December 31, 2019
Property Name	City	State	Encumbrances (a)		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition			Land		Building & Improvements		Total (b)		Accumulated Depreciation at December 31, 2019 (c)		Year of Construction	Year Acquired	Depreciable Life
PENNSYLVANIA SUBURBS
400 Berwyn Park	Berwyn	PA	$	—	$	2,657	$	4,462	$	12,841		$	2,657	$	17,303	$	19,960	$	7,583	1999	1999	(d)
300 Berwyn Park	Berwyn	PA	—		2,206		13,422		4,145			2,206		17,567		19,773		10,516		1989	1997	(d)
1050 Westlakes Drive	Berwyn	PA	—		2,611		10,445		2,210			2,611		12,655		15,266		6,238		1984	1999	(d)
1200 Swedesford Road	Berwyn	PA	—		2,595		11,809		490			2,595		12,299		14,894		6,848		1994	2001	(d)
200 Berwyn Park	Berwyn	PA	—		1,533		9,460		1,574			1,533		11,034		12,567		6,569		1987	1997	(d)
1180 Swedesford Road	Berwyn	PA	—		2,086		8,342		2,865			2,086		11,207		13,293		5,802		1987	2001	(d)
100 Berwyn Park	Berwyn	PA	—		1,180		7,290		1,419			1,180		8,709		9,889		5,252		1986	1997	(d)
1160 Swedesford Road	Berwyn	PA	—		1,781		7,124		6,810			2,045		13,670		15,715		6,698		1986	2001	(d)
1100 Cassett Road	Berwyn	PA	—		1,695		6,779		1,730			1,695		8,509		10,204		4,044		1997	2001	(d)
Six Tower Bridge (181 Washington Street)	Conshohocken	PA	—		6,927		14,722		2,511			6,237		17,923		24,160		3,803		1999	2013	(d)
52 Swedesford Square	East Whiteland Twp.	PA	—		4,241		16,579		5,193			4,241		21,772		26,013		11,511		1988	1998	(d)
640 Freedom Business Center (g)	King Of Prussia	PA	—		1,015		20,098		4,832			414		25,531		25,945		14,251		1991	1998	(d)
620 Freedom Business Center (g)	King Of Prussia	PA	—		666		13,118		1,826			270		15,340		15,610		8,836		1986	1998	(d)
1000 First Avenue	King Of Prussia	PA	—		—		13,708		3,211			—		16,919		16,919		10,766		1980	1998	(d)
1060 First Avenue	King Of Prussia	PA	—		—		13,665		4,169			—		17,834		17,834		11,055		1987	1998	(d)
630 Freedom Business Center Drive (g)	King Of Prussia	PA	—		666		13,251		3,259			273		16,903		17,176		9,861		1989	1998	(d)
1020 First Avenue	King Of Prussia	PA	—		—		10,744		3,931			—		14,675		14,675		9,089		1984	1998	(d)
1040 First Avenue	King Of Prussia	PA	—		—		14,142		5,080			—		19,222		19,222		12,076		1985	1998	(d)
610 Freedom Business Center Drive (g)	King Of Prussia	PA	—		485		9,602		2,676			198		12,565		12,763		6,976		1985	1998	(d)
650 Park Avenue	King Of Prussia	PA	—		1,916		4,378		(4,378		)	1,916		—		1,916		—		1968	1998	(d)

600 Park Avenue	King Of Prussia	PA	—	1,012	4,048	385		1,012	4,433	5,445	2,647	1964	1998	(d)
933 First Avenue	King Of Prussia	PA	—	3,127	20,794	(1,125	)	3,127	19,669	22,796	2,216	2017	N/A	(d)
500 North Gulph Road	King Of Prussia	PA	—	1,303	5,201	21,017		1,303	26,218	27,521	1,202	1979	1996	(d)
401 Plymouth Road	Plymouth Meeting	PA	—	6,199	16,131	15,831		6,199	31,962	38,161	15,355	2001	2000	(d)
Metroplex (4000 Chemical Road)	Plymouth Meeting	PA	—	4,373	24,546	399		4,373	24,945	29,318	7,701	2007	2001	(d)
610 West Germantown Pike	Plymouth Meeting	PA	—	3,651	14,514	3,285		3,651	17,799	21,450	8,669	1987	2002	(d)
600 West Germantown Pike	Plymouth Meeting	PA	—	3,652	15,288	2,717		3,652	18,005	21,657	8,124	1986	2002	(d)
630 West Germantown Pike	Plymouth Meeting	PA	—	3,558	14,743	2,714		3,558	17,457	21,015	7,906	1988	2002	(d)
620 West Germantown Pike	Plymouth Meeting	PA	—	3,572	14,435	1,498		3,572	15,933	19,505	7,042	1990	2002	(d)
660 West Germantown Pike	Plymouth Meeting	PA	—	3,694	5,487	20,715		5,405	24,491	29,896	6,850	1987	2012	(d)
351 Plymouth Road	Plymouth Meeting	PA	—	1,043	555	—		1,043	555	1,598	205	N/A	2000	(d)
150 Radnor Chester Road	Radnor	PA	—	11,925	36,986	10,142		11,897	47,156	59,053	22,504	1983	2004	(d)
One Radnor Corporate Center	Radnor	PA	—	7,323	28,613	22,885		7,323	51,498	58,821	30,974	1998	2004	(d)
201 King of Prussia Road	Radnor	PA	—	8,956	29,811	2,871		8,949	32,689	41,638	19,061	2001	2004	(d)
555 Lancaster Avenue	Radnor	PA	—	8,014	16,508	20,204		8,609	36,117	44,726	18,535	1973	2004	(d)
Four Radnor Corporate Center	Radnor	PA	—	5,406	21,390	12,770		5,705	33,861	39,566	15,781	1995	2004	(d)
Five Radnor Corporate Center	Radnor	PA	—	6,506	25,525	8,209		6,578	33,662	40,240	12,120	1998	2004	(d)
Three Radnor Corporate Center	Radnor	PA	—	4,773	17,961	1,273		4,791	19,216	24,007	9,598	1998	2004	(d)
Two Radnor Corporate Center	Radnor	PA	—	3,937	15,484	3,163		3,942	18,642	22,584	9,853	1998	2004	(d)
130 Radnor Chester Road	Radnor	PA	—	2,573	8,338	3,188		2,567	11,532	14,099	6,716	1983	2004	(d)
170 Radnor Chester Road	Radnor	PA	—	2,514	8,147	1,751		2,509	9,903	12,412	4,375	1983	2004	(d)
200 Radnor Chester Road	Radnor	PA	—	3,366	—	3,653		3,366	3,653	7,019	772	2014	2005	(d)
101 West Elm Street	W. Conshohocken	PA	—	6,251	25,209	3,853		6,251	29,062	35,313	10,721	1999	2005	(d)
1 West Elm Street	W. Conshohocken	PA	—	3,557	14,249	3,376		3,557	17,625	21,182	6,823	1999	2005	(d)
Four Tower Bridge (200 Barr Harbor Drive)	W. Conshohocken	PA	9,291	6,000	14,734	336		6,000	15,070	21,070	761	1998	2018	(d)

				Initial Cost				Gross Amount Which Carried December 31, 2019
Property Name	City	State	Encumbrances (a)	Land	Building & Improvements	Net Improvements (Retirements) Since Acquisition		Land	Building & Improvements	Total (b)	Accumulated Depreciation at December 31, 2019 (c)	Year of Construction	Year Acquired	Depreciable Life
PHILADELPHIA CBD
Cira Centre (2929 Arch Street)	Philadelphia	PA	—	—	208,570	(17,837	)	12,586	178,147	190,733	62,966	2005	N/A	(d)
Three Logan Square (1717 Arch Street)	Philadelphia	PA	—	—	98,188	75,116		25,195	148,109	173,304	40,161	1990	2010	(d)
Two Commerce Square (2001 Market  Street)	Philadelphia	PA	108,472	15,323	120,200	33,693		15,323	153,893	169,216	27,952	1992	2013	(d)
One Logan Square (130 North 18th Street)	Philadelphia	PA	—	14,496	107,736	30,019		14,473	137,778	152,251	62,425	1998	2004	(d)
Two Logan Square (100 North 18th Street)	Philadelphia	PA	81,103	16,066	100,255	20,061		16,066	120,316	136,382	49,266	1988	2004	(d)
One Commerce Square (2005 Market Street)	Philadelphia	PA	116,571	15,161	105,021	32,326		15,160	137,348	152,508	25,304	1987	2013	(d)
Cira Centre South Garage (129 South 30th Street)	Philadelphia	PA	—	—	76,008	26,832		6,905	95,935	102,840	19,682	2010	N/A	(d)
1900 Market Street	Philadelphia	PA	—	7,768	17,263	63,292		7,768	80,555	88,323	15,492	1981	2012	(d)
3020 Market Street	Philadelphia	PA	—	—	21,417	8,272		—	29,689	29,689	10,492	1959	2011	(d)
618-634 Market Street	Philadelphia	PA	—	13,365	5,791	2,176		13,365	7,967	21,332	5,975	1966	2015	(d)
FMC Tower at Cira Centre South (2929 Walnut Street)	Philadelphia	PA	—	—	400,294	13,296		—	413,590	413,590	47,285	2016	N/A	(d)
2100 Market Street	Philadelphia	PA	—	18,827	—	6,433		18,854	6,406	25,260	1,027	N/A	2015	(d)
3000 Market Street (e)	Philadelphia	PA	—	18,924	13,080	1,039		18,924	14,119	33,043	2,979	1937	2017	(d)
The Bulletin Building (3025 Market Street) (e)	Philadelphia	PA	—	—	24,377	13,353		—	37,730	37,730	2,086	1953	2017	(d)
3001-3003 JFK Boulevard (f)	Philadelphia	PA	—	—	—	111		—	111	111	10	N/A	2018	(d)
3025 JFK Boulevard (f)	Philadelphia	PA	—	—	—	—		—	—	—	—	N/A	2018	N/A
METROPOLITAN WASHINGTON, D.C.
6600 Rockledge Drive	Bethesda	MD	—	—	37,421	9,270		—	46,691	46,691	14,871	1981	2006	(d)

2340 Dulles Corner Boulevard	Herndon	VA	—	16,345	65,379	524		16,129	66,119	82,248	22,150	1987	2006	(d)
1676 International Drive	Mclean	VA	—	18,437	97,538	(962	)	18,785	96,228	115,013	25,451	1999	2006	(d)
8260 Greensboro Drive	Mclean	VA	—	7,952	33,964	4,955		8,102	38,769	46,871	11,152	1980	2006	(d)
2273 Research Boulevard	Rockville	MD	—	5,167	31,110	5,799		5,237	36,839	42,076	11,928	1999	2006	(d)
2275 Research Boulevard	Rockville	MD	—	5,059	29,668	7,588		5,154	37,161	42,315	13,308	1990	2006	(d)
2277 Research Boulevard	Rockville	MD	—	4,649	26,952	18,853		4,733	45,721	50,454	17,093	1986	2006	(d)
8521 Leesburg Pike	Vienna	VA	—	4,316	30,885	7,145		4,397	37,949	42,346	11,925	1984	2006	(d)
AUSTIN, TX
11501 Burnet Road - Building 1	Austin	TX	—	3,755	22,702	115		3,755	22,817	26,572	3,193	1991	2015	(d)
11501 Burnet Road - Building 2	Austin	TX	—	2,732	16,305	1,551		2,732	17,856	20,588	2,920	1991	2015	(d)
11501 Burnet Road - Building 3	Austin	TX	—	3,688	22,348	94		3,688	22,442	26,130	3,161	1991	2015	(d)
11501 Burnet Road - Building 4	Austin	TX	—	2,614	15,740	75		2,614	15,815	18,429	2,242	1991	2015	(d)
11501 Burnet Road - Building 5	Austin	TX	—	3,689	22,354	118		3,689	22,472	26,161	3,207	1991	2015	(d)
11501 Burnet Road - Building 6	Austin	TX	—	2,676	15,972	13,973		2,676	29,945	32,621	3,408	1991	2015	(d)
11501 Burnet Road - Building 8	Austin	TX	—	1,400	7,422	1,547		1,400	8,969	10,369	1,172	1991	2015	(d)
11501 Burnet Road - Parking Garage	Austin	TX	—	—	19,826	63		—	19,889	19,889	3,628	1991	2015	(d)
Four Points Centre 3 (11120 Four Points Drive)	Austin	TX	—	1,140	—	40,564		1,140	40,564	41,704	1,511	2019	2013	(d)
One Barton Skyway (1501 South MoPac Expressway)	Austin	TX	—	10,496	47,670	113		10,495	47,784	58,279	1,378	1999	2018	(d)
Two Barton Skyway (1601 South MoPac Expressway)	Austin	TX	—	10,849	53,868	2,828		10,848	56,697	67,545	1,810	2000	2018	(d)
Three Barton Skyway (1221 South MoPac Expressway)	Austin	TX	—	10,374	47,624	184		10,373	47,809	58,182	1,343	2001	2018	(d)
Four Barton Skyway (1301 South MoPac Expressway)	Austin	TX	—	13,301	57,041	(40	)	13,300	57,002	70,302	1,583	2001	2018	(d)

				Initial Cost				Gross Amount Which Carried December 31, 2019
Property Name	City	State	Encumbrances (a)	Land	Building & Improvements	Net Improvements (Retirements) Since Acquisition		Land	Building & Improvements	Total (b)	Accumulated Depreciation at December 31, 2019 (c)	Year of Construction	Year Acquired	Depreciable Life
Four Points Centre (11305 Four Points Drive)	Austin	TX	—	7,800	43,581	3,463		7,800	47,044	54,844	1,427	2008	2018	(d)
River Place - Building 1 (6500 River Place Boulevard)	Austin	TX	—	2,004	17,680	476		2,004	18,156	20,160	547	2000	2018	(d)
River Place - Building 2 (6500 River Place Boulevard)	Austin	TX	—	3,137	29,254	191		3,137	29,445	32,582	816	2000	2018	(d)
River Place - Building 3 (6500 River Place Boulevard)	Austin	TX	—	3,064	26,705	12		3,064	26,717	29,781	735	2000	2018	(d)
River Place - Building 4 (6500 River Place Boulevard	Austin	TX	—	2,273	18,617	1,001		2,273	19,618	21,891	674	2000	2018	(d)
River Place - Building 5 (6500 River Place Boulevard)	Austin	TX	—	1,752	14,315	(24	)	1,752	14,291	16,043	394	2001	2018	(d)
River Place - Building 6 (6500 River Place Boulevard)	Austin	TX	—	1,598	12,945	(24	)	1,598	12,921	14,519	356	2001	2018	(d)
River Place - Building 7 (6500 River Place Boulevard)	Austin	TX	—	1,801	16,486	1,051		1,801	17,537	19,338	586	2002	2018	(d)
Quarry Lake II (4516 Seton Center Parkway)	Austin	TX	—	3,970	30,546	821		3,867	31,470	35,337	876	1998	2018	(d)
OTHER
10 Foster Avenue	Gibbsboro	NJ	—	244	971	69		244	1,040	1,284	624	1983	1997	(d)
7 Foster Avenue	Gibbsboro	NJ	—	231	921	31		231	952	1,183	549	1983	1997	(d)
2 Foster Avenue	Gibbsboro	NJ	—	185	730	11		185	741	926	741	1974	1997	(d)
4 Foster Avenue	Gibbsboro	NJ	—	183	726	6		183	732	915	732	1974	1997	(d)
1 Foster Avenue	Gibbsboro	NJ	—	93	364	8		93	372	465	372	1972	1997	(d)
5 U.S. Avenue	Gibbsboro	NJ	—	21	81	2		21	83	104	83	1987	1997	(d)
5 Foster Avenue	Gibbsboro	NJ	—	9	32	3		9	35	44	35	1968	1997	(d)
Main Street - Plaza 1000	Voorhees	NJ	—	2,732	10,942	296		2,732	11,238	13,970	11,008	1988	1997	(d)
Main Street - Piazza	Voorhees	NJ	—	696	2,802	3,700		704	6,494	7,198	3,515	1990	1997	(d)
Main Street - Promenade	Voorhees	NJ	—	532	2,052	312		532	2,364	2,896	1,350	1988	1997	(d)

920 North King Street	Wilmington	DE	—		6,141		21,140		7,969		6,141		29,109		35,250		13,046		1989	2004	(d)
300 Delaware Avenue	Wilmington	DE	—		6,369		13,739		2,638		6,369		16,377		22,746		9,031		1989	2004	(d)
	Total:		$	315,437	$	443,949	$	2,886,455	$	676,055	$	489,702	$	3,516,757	$	4,006,459	$	973,318

(a)

Excludes the effect of any net interest premium/(discount) and deferred financing costs.

(b)

Reconciliation of Real Estate:

The following table reconciles the real estate investments from January 1, 2017 to December 31, 2019 (in thousands):

	2019			2018			2017
Balance at beginning of year	$	3,951,719		$	3,830,824		$	3,658,438
Additions:
Acquisitions	—			509,654			62,587
Capital expenditures and assets placed into service	145,378			129,274			356,857
Less:
Dispositions/impairments/placed into redevelopment	(50,792		)	(469,517		)	(189,472		)
Retirements	(39,846		)	(48,516		)	(57,586		)
Balance at end of year	$	4,006,459		$	3,951,719		$	3,830,824
Per consolidated balance sheet	$	4,006,459		$	3,951,719		$	3,830,824

The aggregate cost for federal income tax purposes is $3.2 billion as of December 31, 2019.

(c) Reconciliation of Accumulated Depreciation:

The following table reconciles the accumulated depreciation on real estate investments from January 1, 2017 to December 31, 2019 (in thousands):

	2019			2018			2017
Balance at beginning of year	$	885,407		$	913,297		$	885,392
Additions:
Depreciation expense	144,131			137,213			154,029
Less:
Dispositions/impairments/placed into redevelopment	(16,783		)	(117,589		)	(74,178		)
Retirements	(39,437		)	(47,514		)	(51,946		)
Balance at end of year	$	973,318		$	885,407		$	913,297
Per consolidated balance sheet	$	973,318		$	885,407		$	913,297

(d) Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 55 years.

(e) Reflects original construction date. Significant improvements were made to 3000 Market Street in 1988 and The Bulletin Building in 2012.

(f) Represent leasehold interests in a land parcels acquired through prepaid 99-year ground leases. Development has not yet commenced on the parcel. Building and improvements represent costs related to parking operations.

(g)

Land value represents unamortized prepaid ground lease.