XML 89 R34.htm IDEA: XBRL DOCUMENT
v2.3.0.15

Debt Obligations (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2011
Debt Obligations [Abstract] |
Consolidated debt obligations | MORTGAGE DEBT:
|  |  |  |  |  |  |  |  |  | Effective |  |
|  | September 30, |  |  | December 31, |  |  | Interest |  | Maturity
Property / Location |  | 2011 |  |  | 2010 |  |  | Rate |  | Date
Arboretum I, II, III & V |  | $ | — |  |  | $ | 20,386 |  |  | 7.59 | % (a) | Jul-11
Midlantic Drive/Lenox Drive/DCC I |  |  | — |  |  |  | 56,514 |  |  | 8.05 | % (b) | Oct-11
Research Office Center |  |  | — |  |  |  | 39,145 |  |  | 5.30 | % (c), (d) | Oct-11
Concord Airport Plaza |  |  | — |  |  |  | 34,494 |  |  | 5.55 | % (d), (e) | Jan-12
Newtown Square/Berwyn Park/Libertyview |  |  | 56,940 |  |  |  | 58,102 |  |  | 7.25 | % | May-13
Southpoint III |  |  | 2,070 |  |  |  | 2,597 |  |  | 7.75 | % | Apr-14
Tysons Corner |  |  | 95,299 |  |  |  | 96,507 |  |  | 5.36 | % (d) | Aug-15
Two Logan Square |  |  | 89,800 |  |  |  | 89,800 |  |  | 7.57 | % | Apr-16
One Logan Square |  |  | — |  |  |  | 60,000 |  |  | 4.50 | % (f) | Jul-16
IRS Philadelphia Campus |  |  | 204,301 |  |  |  | 208,366 |  |  | 7.00 | % | Sep-30
Cira South Garage |  |  | 44,879 |  |  |  | 46,335 |  |  | 7.12 | % | Sep-30
Principal balance outstanding |  |  | 493,288 |  |  |  | 712,246 |  |  |  |  |
Plus: unamortized fixed-rate debt premiums (discounts), net |  |  | (1,421 | ) |  |  | (457 | ) |  |  |  |
Total mortgage indebtedness |  | $ | 491,867 |  |  | $ | 711,789 |  |  |  |  |
UNSECURED DEBT: |  |  |  |  |  |  |  |  |  |  |  |
$345.0M 3.875% Guaranteed Exchangeable Notes due 2026 |  |  | 59,835 |  |  |  | 59,835 |  |  | 5.50 | % (g) | Oct-11
Bank Term Loan |  |  | 183,000 |  |  |  | 183,000 |  |  | LIBOR + 0.800 | % (h) | Jun-12
Credit Facility |  |  | 166,000 |  |  |  | 183,000 |  |  | LIBOR + 0.725 | % (h) | Jun-12
$300.0M 5.750% Guaranteed Notes due 2012 |  |  | 152,296 |  |  |  | 175,200 |  |  | 5.73 | % | Apr-12
$250.0M 5.400% Guaranteed Notes due 2014 |  |  | 242,681 |  |  |  | 242,681 |  |  | 5.53 | % | Nov-14
$250.0M 7.500% Guaranteed Notes due 2015 |  |  | 248,585 |  |  |  | 250,000 |  |  | 7.77 | % | May-15
$250.0M 6.000% Guaranteed Notes due 2016 |  |  | 250,000 |  |  |  | 250,000 |  |  | 5.95 | % | Apr-16
$300.0M 5.700% Guaranteed Notes due 2017 |  |  | 300,000 |  |  |  | 300,000 |  |  | 5.68 | % | May-17
$325.0M 4.950% Guaranteed Notes due 2018 |  |  | 325,000 |  |  |  | — |  |  | 5.14 | % | Apr-18
Indenture IA (Preferred Trust I) |  |  | 27,062 |  |  |  | 27,062 |  |  | LIBOR + 1.25 | % | Mar-35
Indenture IB (Preferred Trust I) |  |  | 25,774 |  |  |  | 25,774 |  |  | LIBOR + 1.25 | % | Apr-35
Indenture II (Preferred Trust II) |  |  | 25,774 |  |  |  | 25,774 |  |  | LIBOR + 1.25 | % | Jul-35
Principal balance outstanding |  |  | 2,006,007 |  |  |  | 1,722,326 |  |  |  |  |
Less: unamortized exchangeable debt discount |  |  | (91 | ) |  |  | (906 | ) |  |  |  |
unamortized fixed-rate debt discounts, net |  |  | (5,556 | ) |  |  | (2,763 | ) |  |  |  |
Total unsecured indebtedness |  | $ | 2,000,360 |  |  | $ | 1,718,657 |  |  |  |  |
Total Debt Obligations |  | $ | 2,492,227 |  |  | $ | 2,430,446 |  |  |  |  |
(a) |  | On April 1, 2011, the Company prepaid the remaining balance of the loan without penalty.
(b) |  | On June 3, 2011, the Company prepaid the remaining balance of the loan without penalty.
(c) |  | On June 30, 2011, the Company prepaid the remaining balance of the loan without penalty. The unamortized fixed-rate debt premium of $0.3 million related to this loan was included as part of the gain (loss) on early extinguishment of debt in the Company’s consolidated statement of operations during the current year.
(d) |  | These loans were assumed upon acquisition of the related properties. The interest rates reflect the market rate at the time of acquisition.
(e) |  | On September 1, 2011, the Company prepaid the remaining balance of the loan without penalty. The unamortized fixed-rate debt premium of $0.2 million related to this loan was included as part of the gain (loss) on early extinguishment of debt in the Company’s consolidated statement of operations during the quarter.
(f) |  | This mortgage was subject to an interest rate floor of 4.50% on a monthly basis. On July 11, 2011, the Company prepaid the balance of the loan without penalty.
(g) |  | On October 20, 2011, holders representing $59.5 million of the outstanding Exchangeable Notes as of September 30, 2011, exercised their right to cause the Company to redeem their notes at par plus accrued and unpaid interest leaving an outstanding balance of $0.4 million. On October 15, 2016, the remaining holders have the right to request, with proper notice, the redemption of all or a portion of their Exchangeable Notes at a price equal to 100% of the principal amount of the Exchangeable Notes plus accrued and unpaid interest. Accordingly, the remaining balance of the Exchangeable Notes after October 20, 2011 will reflect a maturity date of October 15, 2016, notwithstanding their final maturity date of October 15, 2026.
(h) |  | On March 31, 2011, the maturity dates of the Bank Term Loan and the Credit Facility were extended to June 29, 2012 from June 29, 2011. On June 29, 2011, the Company paid a total extension fee amounting to $1.2 million which is equal to 15 basis points of the outstanding principal balance of the Bank Term Loan and of the committed amount under the Credit Facility. The extension of the maturity dates was at the Company’s option under the Bank Term Loan and the Credit Facility agreements. There were no changes in the terms and conditions of the loan agreements as a result of the maturity date extensions.
Summary of debt repurchases |
|  | Repurchase |  |  |  |  |  |  |  |  |  |  | Deferred Financing |
Notes |  | Amount |  |  | Principal |  |  | Loss |  |  | Amortization |
2012 5.750% Notes |  | $ | 23,765 |  |  | $ | 22,904 |  |  | $ | (857 | ) |  | $ | 32 |
2015 7.500% Notes |  |  | 1,600 |  |  |  | 1,415 |  |  |  | (212 | ) |  |  | 8 |
|  | $ | 25,365 |  |  | $ | 24,319 |  |  | $ | (1,069 | ) |  | $ | 40 |
Schedule of principal payments of debt obligations |
2011 |  | $ | 62,732 |
2012 |  |  | 513,694 |
2013 |  |  | 66,467 |
2014 |  |  | 254,401 |
2015 |  |  | 348,079 |
Thereafter |  |  | 1,253,922 |
Total principal payments |  |  | 2,499,295 |
Net unamortized premiums/(discounts) |  |  | (7,068 | )
Outstanding indebtedness |  | $ | 2,492,227 |

X
- Definition Consolidated debt obligations table. + Details
Name: | bdn_ConsolidatedDebtObligationsTableTextBlock
Namespace Prefix: | bdn
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of debt repurchases table. + Details
Name: | bdn_SummaryOfDebtRepurchasesTableTextBlock
Namespace Prefix: | bdn
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 26 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 140 -Paragraph 16, 17 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6772813&loc=d3e13374-112631 + Details
Name: | us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock
Namespace Prefix: | us-gaap
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration