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CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (27,056) $ (16,414)
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 44,353 45,042
Amortization of deferred financing costs 1,230 1,091
Amortization of debt discount/(premium), net 119 (250)
Amortization of stock compensation costs 11,068 4,378
Straight-line rent income (1,699) (3,199)
Amortization of acquired above (below) market leases, net (210) (246)
Ground rent expense 194 197
Net loss on real estate venture transactions 0 29
Loss from unconsolidated real estate ventures, including income distributions 10,511 13,588
Income tax provision 0 2
Changes in assets and liabilities:    
Accounts receivable (620) 1,452
Other assets (10,266) (16,948)
Accounts payable and accrued expenses (4,726) (10,208)
Deferred income, gains and rent (14,068) 1,199
Other liabilities (2,515) 4,098
Net cash provided by operating activities 6,315 23,811
Cash flows from investing activities:    
Capital expenditures for tenant improvements (22,554) (15,904)
Capital expenditures for redevelopments (3,301) (4,013)
Capital expenditures for developments (6,956) (7,404)
Advances for the purchase of tenant assets, net of repayments (247) (998)
Investment in unconsolidated real estate ventures (7,661) (26,975)
Capital distributions from unconsolidated real estate ventures 42 3,931
Leasing costs paid (3,951) (3,942)
Net cash used in investing activities (44,628) (55,305)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 70,000 37,000
Repayments of credit facility borrowings (5,000) 0
Repayments of unsecured term loan 70,000 0
Proceeds from construction loan 5,639 5,076
Debt financing costs paid 0 (200)
Shares used for employee taxes upon vesting of share awards (778) (594)
Distributions paid to preferred and common partnership units (26,176) (25,946)
Net cash provided by (used in) financing activities (26,391) 15,259
Decrease in cash and cash equivalents and restricted cash (64,704) (16,235)
Cash and cash equivalents and restricted cash at beginning of period 96,177 67,534
Cash and cash equivalents and restricted cash at end of period 31,473 51,299
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 90,229 58,319
Restricted cash, beginning of period 5,948 9,215
Cash and cash equivalents and restricted cash at beginning of period 96,177 67,534
Cash and cash equivalents, end of period 29,428 43,210
Restricted cash, end of period 2,045 8,089
Cash and cash equivalents and restricted cash at end of period 31,473 51,299
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the three months ended March 31, 2025 and 2024 of $3,166 and $3,918, respectively 24,525 23,368
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 26,487 26,248
Change in capital expenditures financed through accounts payable at period end (6,414) (1,179)
Change in capital expenditures financed through retention payable at period end 536 648
Brandywine Operating Partnership, L.P.    
Cash flows from operating activities:    
Net loss (27,056) (16,414)
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 44,353 45,042
Amortization of deferred financing costs 1,230 1,091
Amortization of debt discount/(premium), net 119 (250)
Amortization of stock compensation costs 11,068 4,378
Straight-line rent income (1,699) (3,199)
Amortization of acquired above (below) market leases, net (210) (246)
Ground rent expense 194 197
Net loss on real estate venture transactions 0 29
Loss from unconsolidated real estate ventures, including income distributions 10,511 13,588
Income tax provision 0 2
Changes in assets and liabilities:    
Accounts receivable (620) 1,452
Other assets (10,266) (16,948)
Accounts payable and accrued expenses (4,726) (10,208)
Deferred income, gains and rent (14,068) 1,199
Other liabilities (2,515) 4,098
Net cash provided by operating activities 6,315 23,811
Cash flows from investing activities:    
Capital expenditures for tenant improvements (22,554) (15,904)
Capital expenditures for redevelopments (3,301) (4,013)
Capital expenditures for developments (6,956) (7,404)
Advances for the purchase of tenant assets, net of repayments (247) (998)
Investment in unconsolidated real estate ventures (7,661) (26,975)
Capital distributions from unconsolidated real estate ventures 42 3,931
Leasing costs paid (3,951) (3,942)
Net cash used in investing activities (44,628) (55,305)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 70,000 37,000
Repayments of credit facility borrowings (5,000) 0
Repayments of unsecured term loan 70,000 0
Proceeds from construction loan 5,639 5,076
Debt financing costs paid 0 (200)
Shares used for employee taxes upon vesting of share awards (778) (594)
Distributions paid to preferred and common partnership units (26,252) (26,023)
Net cash provided by (used in) financing activities (26,391) 15,259
Decrease in cash and cash equivalents and restricted cash (64,704) (16,235)
Cash and cash equivalents and restricted cash at beginning of period 96,177 67,534
Cash and cash equivalents and restricted cash at end of period 31,473 51,299
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 90,229 58,319
Restricted cash, beginning of period 5,948 9,215
Cash and cash equivalents and restricted cash at beginning of period 96,177 67,534
Cash and cash equivalents, end of period 29,428 43,210
Restricted cash, end of period 2,045 8,089
Cash and cash equivalents and restricted cash at end of period 31,473 51,299
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the three months ended March 31, 2025 and 2024 of $3,166 and $3,918, respectively 24,525 23,368
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 26,487 26,248
Change in capital expenditures financed through accounts payable at period end (6,414) (1,179)
Change in capital expenditures financed through retention payable at period end $ 536 $ 648