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CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ (115,992) $ 13,853
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 88,115 89,229
Amortization of deferred financing costs 2,427 2,506
Amortization of debt discount/(premium), net 240 (2,659)
Amortization of stock compensation costs 13,912 6,871
Straight-line rent income (1,465) (5,366)
Amortization of acquired above (below) market leases, net (404) (481)
Ground rent expense 387 394
Net gain on real estate venture transactions 0 (53,733)
Gain on early extinguishment of debt 0 (941)
Provision for impairment 63,369 6,427
Loss from unconsolidated real estate ventures, including income distributions 25,344 28,095
Income tax provision 85 11
Changes in assets and liabilities:    
Accounts receivable (3,289) 2,213
Other assets (1,059) (10,833)
Accounts payable and accrued expenses (10,580) (10,676)
Deferred income, gains and rent (18,182) 2,155
Other liabilities (2,204) 4,905
Net cash provided by operating activities 40,704 71,970
Cash flows from investing activities:    
Proceeds from the sale of properties 17,260 0
Capital expenditures for tenant improvements (39,524) (32,200)
Capital expenditures for redevelopments (4,766) (5,080)
Capital expenditures for developments (17,656) (16,260)
Advances for the purchase of tenant assets, net of repayments (247) (998)
Investment in unconsolidated real estate ventures (7,248) (98,035)
Capital distributions from unconsolidated real estate ventures 2,422 3,931
Leasing costs paid (6,726) (5,452)
Net cash used in investing activities (56,485) (154,094)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 110,000 62,000
Repayments of credit facility borrowings (110,000) (37,000)
Repayment of unsecured term loan (70,000) 0
Proceeds from unsecured notes 159,000 400,000
Repayments of unsecured notes 0 (339,059)
Proceeds from unsecured term loan 0 13,000
Proceeds from construction loan 10,636 11,802
Debt financing costs paid (2,141) (6,334)
Shares used for employee taxes upon vesting of share awards (1,404) (1,028)
Distributions paid to preferred and common partnership units (52,574) (52,124)
Net cash provided by financing activities 43,363 51,103
Increase/(Decrease) in cash and cash equivalents and restricted cash 27,582 (31,021)
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 123,759 36,513
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 122,645 30,369
Restricted cash, end of period 1,114 6,144
Cash and cash equivalents and restricted cash at end of period 123,759 36,513
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the six months ended June 30, 2025 and 2024 of $6,342 and $8,641, respectively 58,031 60,743
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 26,457 26,234
Change in capital expenditures financed through accounts payable at period end (10,714) 425
Change in capital expenditures financed through retention payable at period end 426 775
Brandywine Operating Partnership, L.P.    
Cash flows from operating activities:    
Net income (loss) (115,992) 13,853
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 88,115 89,229
Amortization of deferred financing costs 2,427 2,506
Amortization of debt discount/(premium), net 240 (2,659)
Amortization of stock compensation costs 13,912 6,871
Straight-line rent income (1,465) (5,366)
Amortization of acquired above (below) market leases, net (404) (481)
Ground rent expense 387 394
Net gain on real estate venture transactions 0 (53,733)
Gain on early extinguishment of debt 0 (941)
Provision for impairment 63,369 6,427
Loss from unconsolidated real estate ventures, including income distributions 25,344 28,095
Income tax provision 85 11
Changes in assets and liabilities:    
Accounts receivable (3,289) 2,213
Other assets (1,059) (10,833)
Accounts payable and accrued expenses (10,580) (10,676)
Deferred income, gains and rent (18,182) 2,155
Other liabilities (2,204) 4,905
Net cash provided by operating activities 40,704 71,970
Cash flows from investing activities:    
Proceeds from the sale of properties 17,260 0
Capital expenditures for tenant improvements (39,524) (32,200)
Capital expenditures for redevelopments (4,766) (5,080)
Capital expenditures for developments (17,656) (16,260)
Advances for the purchase of tenant assets, net of repayments (247) (998)
Investment in unconsolidated real estate ventures (7,248) (98,035)
Capital distributions from unconsolidated real estate ventures 2,422 3,931
Leasing costs paid (6,726) (5,452)
Net cash used in investing activities (56,485) (154,094)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 110,000 62,000
Repayments of credit facility borrowings (110,000) (37,000)
Repayment of unsecured term loan (70,000) 0
Proceeds from unsecured notes 159,000 400,000
Repayments of unsecured notes 0 (339,059)
Proceeds from unsecured term loan 0 13,000
Proceeds from construction loan 10,636 11,802
Debt financing costs paid (2,141) (6,334)
Shares used for employee taxes upon vesting of share awards (1,404) (1,028)
Distributions paid to preferred and common partnership units (52,728) (52,278)
Net cash provided by financing activities 43,363 51,103
Increase/(Decrease) in cash and cash equivalents and restricted cash 27,582 (31,021)
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 123,759 36,513
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 122,645 30,369
Restricted cash, end of period 1,114 6,144
Cash and cash equivalents and restricted cash at end of period 123,759 36,513
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the six months ended June 30, 2025 and 2024 of $6,342 and $8,641, respectively 58,031 60,743
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 26,457 26,234
Change in capital expenditures financed through accounts payable at period end (10,714) 425
Change in capital expenditures financed through retention payable at period end $ 426 $ 775