Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

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, 2023

(in thousands)


					Initial Cost						Gross Amount Which Carried December 31, 2023
Property Name	City	State	Encumbrances		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition		Land		Building & Improvements		Total (a)		Accumulated Depreciation at December 31, 2023 (b)		Year of Construction	Year Acquired	Depreciable Life
PENNSYLVANIA SUBURBS
Six Tower Bridge (181 Washington Street)	Conshohocken	PA	$	—	$	6,927.00	$	14,722.00	$	1,330.00	$	6,237.00	$	16,742.00	$	22,979.00	$	5,108.00	1999	2013	(c)
426 Lancaster Avenue	Devon	PA	—		1,689		6,756		9,405		1,686		16,164		17,850		3,841		1990	1998	(c)
640 Freedom Business Center (d)	King Of Prussia	PA	—		1,015		20,098		4,762		305		25,570		25,875		17,737		1991	1998	(c)
620 Freedom Business Center (d)	King Of Prussia	PA	—		666		13,118		3,160		199		16,745		16,944		10,756		1986	1998	(c)
1000 First Avenue	King Of Prussia	PA	—		—		13,708		3,345		—		17,053		17,053		13,278		1980	1998	(c)
1060 First Avenue	King Of Prussia	PA	—		—		13,665		4,134		—		17,799		17,799		13,769		1987	1998	(c)
630 Freedom Business Center Drive (d)	King Of Prussia	PA	—		666		13,251		3,182		201		16,898		17,099		11,422		1989	1998	(c)
1020 First Avenue	King Of Prussia	PA	—		—		10,744		4,544		—		15,288		15,288		11,736		1984	1998	(c)
1040 First Avenue	King Of Prussia	PA	—		—		14,142		5,065		—		19,207		19,207		14,973		1985	1998	(c)
610 Freedom Business Center Drive	King Of Prussia	PA	—		485		9,602		1,615		146		11,556		11,702		8,089		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		2,706		1964	1998	(c)
933 First Avenue	King Of Prussia	PA	15,960		3,127		20,794		(1,125)		3,127		19,669		22,796		5,692		2017	N/A	(c)
500 North Gulph Road	King Of Prussia	PA	16,121		1,303		5,201		21,471		1,303		26,672		27,975		5,854		1979	1996	(c)
401 Plymouth Road	Plymouth Meeting	PA	—		6,199		16,131		15,706		6,199		31,837		38,036		16,202		2001	2000	(c)
Metroplex (4000 Chemical Road)	Plymouth Meeting	PA	16,055		4,373		24,546		5,554		4,373		30,100		34,473		11,076		2007	2001	(c)
Metroplex II	Plymouth Meeting	PA	—		—		—		569		—		569		569		6		NA	2001	(c)
Metroplex III	Plymouth Meeting	PA	—		—		—		317		—		317		317		4		NA	2005
610 West Germantown Pike	Plymouth Meeting	PA	—		3,651		14,514		254		3,051		15,368		18,419		7,768		1987	2002	(c)
600 West Germantown Pike	Plymouth Meeting	PA	—		3,652		15,288		(415)		3,052		15,473		18,525		7,992		1986	2002	(c)
630 West Germantown Pike	Plymouth Meeting	PA	—		3,558		14,743		(673)		2,973		14,655		17,628		7,757		1988	2002	(c)
620 West Germantown Pike	Plymouth Meeting	PA	—		3,572		14,435		1,156		2,985		16,178		19,163		7,802		1990	2002	(c)
660 West Germantown Pike	Plymouth Meeting	PA	—		3,694		5,487		14,871		4,517		19,535		24,052		7,784		1987	2012	(c)
351 Plymouth Road	Plymouth Meeting	PA	—		1,043		555		—		1,043		555		1,598		260		N/A	2000	(c)
150 Radnor Chester Road	Radnor	PA	—		11,925		36,986		22,327		11,897		59,341		71,238		30,253		1983	2004	(c)
One Radnor Corporate Center	Radnor	PA	—		7,323		28,613		4,133		7,323		32,746		40,069		19,410		1998	2004	(c)
201 King of Prussia Road	Radnor	PA	—		8,956		29,811		4,939		8,949		34,757		43,706		24,432		2001	2004	(c)
555 Lancaster Avenue	Radnor	PA	—		8,014		16,508		12,652		8,609		28,565		37,174		10,733		1973	2004	(c)
Four Radnor Corporate Center	Radnor	PA	—		5,406		21,390		6,719		5,705		27,810		33,515		16,857		1995	2004	(c)
Five Radnor Corporate Center	Radnor	PA	—		6,506		25,525		9,676		6,578		35,129		41,707		17,511		1998	2004	(c)
Three Radnor Corporate Center	Radnor	PA	—		4,773		17,961		2,740		4,791		20,683		25,474		12,840		1998	2004	(c)
Two Radnor Corporate Center	Radnor	PA	—		3,937		15,484		5,195		3,942		20,674		24,616		11,281		1998	2004	(c)
130 Radnor Chester Road	Radnor	PA	—		2,573		8,338		(258)		2,567		8,086		10,653		4,324		1983	2004	(c)
170 Radnor Chester Road	Radnor	PA	—		2,514		8,147		2,344		2,509		10,496		13,005		5,860		1983	2004	(c)
101 West Elm Street	W. Conshohocken	PA	—		6,251		25,209		2,600		6,251		27,809		34,060		13,040		1999	2005	(c)
1 West Elm Street	W. Conshohocken	PA	—		3,557		14,249		9,139		3,557		23,388		26,945		8,417		1999	2005	(c)
250 King of Prussia Road (e)	Radnor	PA	—		—		20,566		65,182		11,200		74,548		85,748		4,666		N/A	2022	(c)


				Initial Cost			Gross Amount Which Carried December 31, 2023
Property Name	City	State	Encumbrances	Land	Building & Improvements	Net Improvements (Retirements) Since Acquisition	Land	Building & Improvements	Total (a)	Accumulated Depreciation at December 31, 2023 (b)	Year of Construction	Year Acquired	Depreciable Life
PHILADELPHIA CBD
Cira Centre (2929 Arch Street)	Philadelphia	PA	—	—	208,570	38,189	12,586	234,173	246,759	82,593	2005	N/A	(c)
Three Logan Square (1717 Arch Street)	Philadelphia	PA	—	—	98,188	87,145	25,195	160,138	185,333	68,452	1990	2010	(c)
One Logan Square (130 North 18th Street)	Philadelphia	PA	—	14,496	107,736	23,882	14,473	131,641	146,114	75,119	1998	2004	(c)
Two Logan Square (100 North 18th Street)	Philadelphia	PA	—	16,066	100,255	34,756	16,066	135,011	151,077	67,090	1988	2004	(c)
Cira Centre South Garage (129 South 30th Street) (d)	Philadelphia	PA	—	—	76,008	26,881	6,549	96,340	102,889	30,503	2010	N/A	(c)
1900 Market Street	Philadelphia	PA	61,703.00	7,768	17,263	61,721	7,768	78,984	86,752	35,534	1981	2012	(c)
3020 Market Street	Philadelphia	PA	—	—	21,417	6,005	—	27,422	27,422	13,339	1959	2011	(c)

618-634 Market Street	Philadelphia	PA	—	13,365	5,791	5,161	13,365	10,952	24,317	7,610	1966	2015	(c)

FMC Tower at Cira Centre South (2929 Walnut Street)	Philadelphia	PA	—	—	400,294	10,819	—	411,113	411,113	100,935	2016	N/A	(c)
2100 Market Street	Philadelphia	PA	—	18,827	—	6,318	18,854	6,291	25,145	2,715	N/A	2015	(c)
1505-11 Race Street	Philadelphia	PA	—	3,662	6,061	8	3,670	6,061	9,731	480	1922	2020	(c)
3000 Market Street (f)	Philadelphia	PA	—	18,924	13,080	17,349	18,924	30,429	49,353	4,739	1937	2017	(c)
The Bulletin Building (3025 Market Street) (f)	Philadelphia	PA	49,429.00	—	24,377	44,435	—	68,812	68,812	15,078	1953	2017	(c)
3001-3003 JFK Boulevard (g)	Philadelphia	PA	—	—	—	85	—	85	85	38	N/A	2018	N/A
AUSTIN, TX
401-405 Colorado Street	Austin	TX	62,688	—	106,828	564	—	107,392	107,392	5,958	2022	N/A	(c)
11501 Burnet Road - Building 1	Austin	TX	—	3,755	22,702	4	3,755	22,706	26,461	11,689	1991	2015	(c)
11501 Burnet Road - Building 2	Austin	TX	—	2,732	16,305	733	2,732	17,038	19,770	8,991	1991	2015	(c)
11501 Burnet Road - Building 3	Austin	TX	—	3,688	22,348	7,118	3,688	29,466	33,154	13,671	1991	2015	(c)
11501 Burnet Road - Building 4	Austin	TX	—	2,614	15,740	3	2,614	15,743	18,357	8,105	1991	2015	(c)
11501 Burnet Road - Building 5	Austin	TX	—	3,689	22,354	4	3,689	22,358	26,047	11,511	1991	2015	(c)
11501 Burnet Road - Building 6	Austin	TX	—	2,676	15,972	14,114	2,676	30,086	32,762	16,346	1991	2015	(c)
11501 Burnet Road - Building 8	Austin	TX	—	1,400	7,422	1,776	1,400	9,198	10,598	4,742	1991	2015	(c)
11501 Burnet Road - Parking Garage	Austin	TX	—	—	19,826	1,588	—	21,414	21,414	11,364	1991	2015	(c)
Four Points Centre 3 (11120 Four Points Drive)	Austin	TX	23,044	1,140	—	40,322	1,141	40,321	41,462	8,637	2019	2013	(c)
One Barton Skyway (1501 South MoPac Expressway)	Austin	TX	—	10,496	47,670	8,189	10,495	55,860	66,355	8,647	1999	2018	(c)
Two Barton Skyway (1601 South MoPac Expressway)	Austin	TX	—	10,849	53,868	3,784	10,848	57,653	68,501	9,099	2000	2018	(c)
Four Barton Skyway (1301 South MoPac Expressway)	Austin	TX	—	13,301	57,041	7,895	13,300	64,937	78,237	9,367	2001	2018	(c)
Four Points Centre (11305 Four Points Drive)	Austin	TX	—	7,800	43,581	4,622	7,800	48,203	56,003	7,977	2008	2018	(c)
River Place - Building 1 (6500 River Place Boulevard)	Austin	TX	—	2,004	17,680	990	2,004	18,670	20,674	2,822	2000	2018	(c)
River Place - Building 2 (6500 River Place Boulevard)	Austin	TX	—	3,137	29,254	1,508	3,137	30,762	33,899	4,338	2000	2018	(c)
River Place - Building 3 (6500 River Place Boulevard)	Austin	TX	—	3,064	26,705	1,195	3,064	27,900	30,964	3,753	2000	2018	(c)
River Place - Building 4 (6500 River Place Boulevard	Austin	TX	—	2,273	18,617	1,140	2,273	19,757	22,030	2,684	2000	2018	(c)
River Place - Building 5 (6500 River Place Boulevard)	Austin	TX	—	1,752	14,315	736	1,752	15,051	16,803	2,218	2001	2018	(c)
River Place - Building 6 (6500 River Place Boulevard)	Austin	TX	—	1,598	12,945	703	1,598	13,648	15,246	2,044	2001	2018	(c)


					Initial Cost						Gross Amount Which Carried December 31, 2023
Property Name	City	State	Encumbrances		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition		Land		Building & Improvements		Total (a)		Accumulated Depreciation at December 31, 2023 (b)		Year of Construction	Year Acquired	Depreciable Life
River Place - Building 7 (6500 River Place Boulevard)	Austin	TX	—		1,801		16,486		1,374		1,801		17,860		19,661		3,146		2002	2018	(c)
Quarry Lake II (4516 Seton Center Parkway)	Austin	TX	—		3970		30546		1678		3867		32327		36194		4541		1998	2018	(c)
OTHER
6600 Rockledge Drive	Bethesda	MD	—		—		37,421		(14,597)		—		22,824		22,824		9,299		1981	2006	(c)
1676 International Drive	Mclean	VA	—		18,437		97,538		(30,581)		10,239		75,155		85,394		22,630		1999	2006	(c)
8260 Greensboro Drive	Mclean	VA	—		7,952		33,964		10,969		8,102		44,783		52,885		15,881		1980	2006	(c)
2340 Dulles Corner Boulevard	Herndon	VA	—		16,345		65,379		(23,353)		9,747		48,624		58,371		1,192		1988	2006	(c)
Dabney Land Westwood	Richmond	VA	—		1,732		—		3,690		819		4,706		5,525		493		NA	1998
Main Street - Plaza 1000	Voorhees	NJ	—		2,732		10,942		284		2,732		11,226		13,958		11,073		1988	1997	(c)
Main Street - Piazza	Voorhees	NJ	—		696		2,802		2,762		704		5,556		6,260		4,042		1990	1997	(c)
Main Street - Promenade	Voorhees	NJ	—		532		2,052		265		532		2,317		2,849		1,599		1988	1997	(c)
920 North King Street	Wilmington	DE	—		6,141		21,140		7,272		6,141		28,412		34,553		17,591		1989	2004	(c)
300 Delaware Avenue	Wilmington	DE	—		6,369		13,739		2,386		6,366		16,128		22,494		10,881		1989	2004	(c)
	Total:		$	245,000	$	358,066	$	2,520,935	$	663,128	$	394,669	$	3,147,563	$	3,542,232	$	1,131,792

Reconciliation of Real Estate:

The following table reconciles the real estate investments from January 1, 2021 to December 31, 2023 (in thousands):


	2023		2022		2021
Balance at beginning of year	$	3,617,240	$	3,472,602	$	3,474,109
Additions:
Acquisitions	—		—		—
Capital expenditures and assets placed into service	210,226		212,874		134,931
Less:
Dispositions/impairments/placed into redevelopment	(251,190)		(32,951)		(82,247)
Retirements	(34,044)		(35,285)		(54,191)
Balance at end of year	$	3,542,232	$	3,617,240	$	3,472,602


Per consolidated balance sheet	$	3,542,232	$	3,617,240	$	3,472,602

The aggregate cost for federal income tax purposes is $3.0 billion as of December 31, 2023.

(c)Reconciliation of Accumulated Depreciation:

The following table reconciles the accumulated depreciation on real estate investments from January 1, 2021 to December 31, 2023 (in thousands):


	2023		2022		2021
Balance at beginning of year	$	1,063,060	$	957,450	$	896,561
Additions:
Depreciation expense	158,194		147,735		136,171
Less:
Dispositions/impairments/placed into redevelopment	(55,969)		(7,341)		(24,440)
Retirements	(33,493)		(34,784)		(50,842)
Balance at end of year	$	1,131,792	$	1,063,060	$	957,450


Per consolidated balance sheet	$	1,131,792	$	1,063,060	$	957,450

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

(e)Land value represents unamortized prepaid ground lease.

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

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

(h)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.