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CONSOLIDATED STATEMENTS OF OPERATIONS - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue      
Total revenue $ 505,517 $ 514,651 $ 506,100
Operating expenses      
Property operating expenses 129,890 129,885 130,209
Real estate taxes 47,726 49,974 53,645
Third party management expenses 9,714 10,088 10,547
Depreciation and amortization 178,168 188,797 177,984
General and administrative expenses 42,781 34,862 35,006
Provision for impairment 44,655 131,573 4,663
Total operating expenses 452,934 545,179 412,054
Gain on sale of real estate      
Net gain on disposition of real estate 2,297 7,736 17,677
Net gain on sale of undepreciated real estate 0 1,211 8,007
Total gain on sale of real estate 2,297 8,947 25,684
Operating income (loss) 54,880 (21,581) 119,730
Other income (expense):      
Interest expense (116,306) (95,456) (68,764)
Interest expense - amortization of deferred financing costs (5,000) (4,369) (3,091)
Equity in loss of unconsolidated real estate ventures (191,585) (77,915) (22,016)
Net gain on real estate venture transactions 56,750 181 26,718
Gain (loss) on early extinguishment of debt 941 138 (435)
Net income (loss) before income taxes (196,473) (197,331) 54,047
Income tax provision (14) (72) (55)
Net income (loss) (196,487) (197,403) 53,992
Nonforfeitable dividends allocated to unvested restricted shareholders (1,178) (567) (456)
Net income (loss) attributable to common shareholders, Basic $ (197,085) $ (197,356) $ 53,368
Basic income (loss) per Common Share (in dollars per shares) $ (1.14) $ (1.15) $ 0.31
Diluted income (loss) per Common Share (in dollars per share) $ (1.14) $ (1.15) $ 0.31
Basic weighted average shares outstanding (in shares) 172,526,996 171,959,210 171,491,369
Diluted weighted average shares outstanding (in shares) 172,526,996 171,959,210 172,325,646
Rents      
Revenue      
Total revenue $ 469,242 $ 479,849 $ 470,851
Third party management fees, labor reimbursement and leasing      
Revenue      
Total revenue 23,742 24,417 24,132
Other      
Revenue      
Total revenue 12,533 10,385 11,117
BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Total revenue 505,517 514,651 506,100
Operating expenses      
Property operating expenses 129,890 129,885 130,209
Real estate taxes 47,726 49,974 53,645
Third party management expenses 9,714 10,088 10,547
Depreciation and amortization 178,168 188,797 177,984
General and administrative expenses 42,781 34,862 35,006
Provision for impairment 44,655 131,573 4,663
Total operating expenses 452,934 545,179 412,054
Gain on sale of real estate      
Net gain on disposition of real estate 2,297 7,736 17,677
Net gain on sale of undepreciated real estate 0 1,211 8,007
Total gain on sale of real estate 2,297 8,947 25,684
Operating income (loss) 54,880 (21,581) 119,730
Other income (expense):      
Interest and investment income 3,847 1,671 1,905
Interest expense (116,306) (95,456) (68,764)
Interest expense - amortization of deferred financing costs (5,000) (4,369) (3,091)
Equity in loss of unconsolidated real estate ventures (191,585) (77,915) (22,016)
Net gain on real estate venture transactions 56,750 181 26,718
Gain (loss) on early extinguishment of debt 941 138 (435)
Net income (loss) before income taxes (196,473) (197,331) 54,047
Income tax provision (14) (72) (55)
Net income (loss) (196,487) (197,403) 53,992
Net (income) loss attributable to noncontrolling interests - consolidated real estate ventures (5) 22 2
Net income (loss) attributable to Brandywine Operating Partnership (196,492) (197,381) 53,994
Nonforfeitable dividends allocated to unvested restricted shareholders (1,178) (567) (456)
Net income (loss) attributable to common shareholders, Basic $ (197,670) $ (197,948) $ 53,538
Basic income (loss) per Common Share (in dollars per shares) $ (1.14) $ (1.15) $ 0.31
Diluted income (loss) per Common Share (in dollars per share) $ (1.14) $ (1.15) $ 0.31
Basic weighted average shares outstanding (in shares) 173,042,591 172,475,645 172,036,481
Diluted weighted average shares outstanding (in shares) 173,042,591 172,475,645 172,870,758
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Rents      
Revenue      
Total revenue $ 469,242 $ 479,849 $ 470,851
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Third party management fees, labor reimbursement and leasing      
Revenue      
Total revenue 23,742 24,417 24,132
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Other      
Revenue      
Total revenue $ 12,533 $ 10,385 $ 11,117