Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

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

Real Estate and Accumulated Depreciation

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

Schedule III

Real Estate and Accumulated Depreciation — December 31, 2024

(in thousands)

					Initial Cost						Gross Amount Which Carried December 31, 2024
Property Name	City	State	Encumbrances		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition		Land		Building & Improvements		Total (a)		Accumulated Depreciation at December 31, 2024 (b)		Year of Construction	Year Acquired	Depreciable Life
PENNSYLVANIA SUBURBS
Six Tower Bridge (181 Washington Street)	Conshohocken	PA	$	—	$	6,927	$	14,722	$	1,329	$	6,236	$	16,742	$	22,978	$	5,718	1999	2013	(c)
426 Lancaster Avenue	Devon	PA	—		1,689		6,756		9,405		1,686		16,164		17,850		4,954		1990	1998	(c)
640 Freedom Business Center (d)	King Of Prussia	PA	—		1,015		20,098		5,404		278		26,239		26,517		18,254		1991	1998	(c)
620 Freedom Business Center (d)	King Of Prussia	PA	—		666		13,118		2,804		181		16,407		16,588		11,175		1986	1998	(c)
1000 First Avenue	King Of Prussia	PA	—		—		13,708		3,093		—		16,801		16,801		13,161		1980	1998	(c)
1060 First Avenue	King Of Prussia	PA	—		—		13,665		3,851		—		17,516		17,516		14,273		1987	1998	(c)
630 Freedom Business Center Drive (d)	King Of Prussia	PA	—		666		13,251		3,256		183		16,990		17,173		12,119		1989	1998	(c)
1020 First Avenue	King Of Prussia	PA	—		—		10,744		4,038		—		14,782		14,782		11,908		1984	1998	(c)
1040 First Avenue	King Of Prussia	PA	—		—		14,142		4,870		—		19,012		19,012		15,592		1985	1998	(c)
610 Freedom Business Center Drive	King Of Prussia	PA	—		485		9,602		1,688		133		11,642		11,775		8,553		1985	1998	(c)
650 Park Avenue	King Of Prussia	PA	—		1,916		4,378		(4,378)		1,916		—		1,916		—		1968	1998	(c)
600 Park Avenue	King Of Prussia	PA	—		1,012		4,048		—		1,012		4,048		5,060		2,800		1964	1998	(c)
933 First Avenue	King Of Prussia	PA	15,960		3,127		20,794		(1,125)		3,127		19,669		22,796		6,561		2017	N/A	(c)
500 North Gulph Road	King Of Prussia	PA	16,121		1,303		5,201		22,039		1,303		27,240		28,543		6,941		1979	1996	(c)
401 Plymouth Road	Plymouth Meeting	PA	—		6,199		16,131		16,500		6,198		32,632		38,830		17,624		2001	2000	(c)
Metroplex (4000 Chemical Road)	Plymouth Meeting	PA	16,055		4,373		24,546		5,554		4,373		30,100		34,473		12,291		2007	2001	(c)
Metroplex II	Plymouth Meeting	PA	—		—		—		569		—		569		569		44		N/A	2001	(c)
Metroplex III	Plymouth Meeting	PA	—		—		—		317		—		317		317		25		N/A	2005
351 Plymouth Road	Plymouth Meeting	PA	—		1,043		555		—		1,043		555		1,598		274		N/A	2000	(c)
150 Radnor Chester Road	Radnor	PA	—		11,925		36,986		21,369		11,897		58,383		70,280		32,006		1983	2004	(c)
One Radnor Corporate Center	Radnor	PA	—		7,323		28,613		3,694		7,323		32,307		39,630		20,198		1998	2004	(c)
201 King of Prussia Road	Radnor	PA	—		8,956		29,811		8,481		8,949		38,331		47,280		26,302		2001	2004	(c)
555 Lancaster Avenue	Radnor	PA	—		8,014		16,508		13,005		8,609		28,918		37,527		12,138		1973	2004	(c)
Four Radnor Corporate Center	Radnor	PA	—		5,406		21,390		8,096		5,705		29,187		34,892		17,614		1995	2004	(c)
Five Radnor Corporate Center	Radnor	PA	—		6,506		25,525		9,361		6,578		34,814		41,392		18,632		1998	2004	(c)
Three Radnor Corporate Center	Radnor	PA	—		4,773		17,961		2,621		4,791		20,564		25,355		13,449		1998	2004	(c)
Two Radnor Corporate Center	Radnor	PA	—		3,937		15,484		5,469		3,942		20,948		24,890		10,943		1998	2004	(c)
130 Radnor Chester Road	Radnor	PA	—		2,573		8,338		141		2,567		8,485		11,052		4,562		1983	2004	(c)
170 Radnor Chester Road	Radnor	PA	—		2,514		8,147		1,840		2,509		9,992		12,501		5,586		1983	2004	(c)
155 King of Prussia Road	Radnor	PA	32,734		—		—		62,181		11,432		50,749		62,181		261		2024	N/A	(c)
250 King of Prussia Road	Radnor	PA	—		—		20,566		65,333		112		74,699		85,899		10,336		N/A	2022	(c)
101 West Elm Street	W. Conshohocken	PA	—		6,251		25,209		2,803		6,251		28,012		34,263		13,188		1999	2005	(c)
1 West Elm Street	W. Conshohocken	PA	—		3,557		14,249		9,139		3,557		23,388		26,945		9,538		1999	2005	(c)

Reconciliation of Real Estate:

The following table reconciles the real estate investments from January 1, 2022 to December 31, 2024 (in thousands):

	2024		2023		2022
Balance at beginning of year	$	3,542,232	$	3,617,240	$	3,472,602
Additions:
Acquisitions			—		—
Capital expenditures and assets placed into service	149,172		210,226		212,874
Less:
Dispositions/impairments/placed into redevelopment	(282,315)		(251,190)		(32,951)
Retirements	(34,309)		(34,044)		(35,285)
Balance at end of year	$	3,374,780	$	3,542,232	$	3,617,240
Per consolidated balance sheet	$	3,374,780	$	3,542,232	$	3,617,240

The aggregate cost for federal income tax purposes is $2.9 billion as of December 31, 2024.

(b)Reconciliation of Accumulated Depreciation:

The following table reconciles the accumulated depreciation on real estate investments from January 1, 2022 to December 31, 2024 (in thousands):

	2024		2023		2022
Balance at beginning of year	$	1,131,792	$	1,063,060	$	957,450
Additions:
Depreciation expense	153,784		158,194		147,735
Less:
Dispositions/impairments/placed into redevelopment	(80,315)		(55,969)		(7,341)
Retirements	(33,458)		(33,493)		(34,784)
Balance at end of year	$	1,171,803	$	1,131,792	$	1,063,060
Per consolidated balance sheet	$	1,171,803	$	1,131,792	$	1,063,060

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

(d)Land value represents unamortized prepaid ground lease.

(e)250 King of Prussia Road was fully placed into service in 2023.

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

(g)Represent leasehold interests in 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.