-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RbkP4hQcGsTUIsDmHBiMY3pymdmp3zSfiRpWyAIZmJXxiK4pqAfHzFo+9KVvMa7h aDJGJQwWgTgGf7iuzKTyag== 0000950123-99-007374.txt : 19990811 0000950123-99-007374.hdr.sgml : 19990811 ACCESSION NUMBER: 0000950123-99-007374 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990810 GROUP MEMBERS: COMMONWEALTH ATLANTIC DEVELOPMENT INC GROUP MEMBERS: COMMONWEALTH ATLANTIC HOLDING I INC GROUP MEMBERS: COMMONWEALTH ATLANTIC LAND II INC GROUP MEMBERS: COMMONWEALTH ATLANTIC LAND III INC GROUP MEMBERS: COMMONWEALTH ATLANTIC LAND V INC GROUP MEMBERS: COMMONWEALTH ATLANTIC OPERATING PROPERTIES INC GROUP MEMBERS: COMMONWEALTH ATLANTIC PROPERTIES INC GROUP MEMBERS: COMMONWEALTH ATLANTIC PROPERTIES INVESTORS TRUST GROUP MEMBERS: COMMONWEALTH ATNALTIC LAND I INC GROUP MEMBERS: LAZARD FRERES REAL ESTATE INVESTORS LLC GROUP MEMBERS: LF STRATEGIC REALTY INVESTORS L P GROUP MEMBERS: PROMETHEUS AAPT HOLDINGS LLC GROUP MEMBERS: RICHMOND LAND CORPORATION SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BRANDYWINE REALTY TRUST CENTRAL INDEX KEY: 0000790816 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 232413352 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-42789 FILM NUMBER: 99682699 BUSINESS ADDRESS: STREET 1: 14 CAMPUS BLVD STREET 2: STE 100 CITY: NEWTOWN SQUARE STATE: PA ZIP: 19073 BUSINESS PHONE: 6103255600 MAIL ADDRESS: STREET 1: TWO GREENTREE CENTRE STREET 2: SUITE 100 CITY: MARLTON STATE: NJ ZIP: 08053 FORMER COMPANY: FORMER CONFORMED NAME: LINPRO SPECIFIED PROPERTIES DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LF STRATEGIC REALTY INVESTORS L P CENTRAL INDEX KEY: 0001075503 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: LAZARD FRERES REAL ESTATE INVESTORS LLC STREET 2: 30 ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2126326000 SC 13D 1 SCHEDULE 13D 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (RULE 13d-101) UNDER THE SECURITIES EXCHANGE ACT OF 1934 BRANDYWINE REALTY TRUST (NAME OF ISSUER) Common Shares, par value $0.01 per share (TITLE OF CLASS OF SECURITIES) 105368203 (CUSIP NUMBER) LF Strategic Realty Investors L.P. Lazard Freres Real Estate Investors L.L.C. Prometheus AAPT Holdings, L.L.C. Commonwealth Atlantic Properties Investors Trust 30 Rockefeller Plaza, 63rd Floor New York, NY 10020 (212) 632-6000 Commonwealth Atlantic Properties Inc. Commonwealth Atlantic Operating Properties Inc. Commonwealth Atlantic Land I Inc. Commonwealth Atlantic Land II Inc. Commonwealth Atlantic Land III Inc. Commonwealth Atlantic Land V Inc. Richmond Land Corporation Commonwealth Atlantic Holding I Inc. Commonwealth Atlantic Development Inc. 66 Canal Center Plaza, 7th Floor Alexandria, VA 23219 with a copy to: R. Ronald Hopkinson, Esq. Latham & Watkins 885 Third Avenue New York, New York 10022 (212) 906-1200 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 31, 1999 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-l(b)(3) or (4), check the following box [ ]. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule l3d-l(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The Information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 2
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 2 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON LF Strategic Realty Investors L.P. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 4,107,143 (See Item 5) BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 4,107,143 (See Item 5) -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,107,143 (See Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.85% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN (limited partnership) - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 3
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 3 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Lazard Freres Real Estate Investors L.L.C. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS AF (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 4,107,143 (See Item 5) BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 4,107,143 (See Item 5) -------- ---------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,107,143 (See Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.85% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO (limited liability company) - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 4
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 4 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Prometheus AAPT Holdings, L.L.C. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 1,339,286 BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 1,339,286 -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,339,286 - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.21% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO (limited liability company) - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 5
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 5 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Operating Properties Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,183,114 BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 2,183,114 -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,183,114 - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.24% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 6
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 6 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Land II Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 506,663 BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,183,114 (see Item 5) REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 506,663 -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,689,777 (See Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.45% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 7
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 7 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Land III Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES None BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,183,114 (see Item 5) REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH None -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.24% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 8
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 8 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Land V Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES None BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,183,114 (see Item 5) REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH None -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.24% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 9
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 9 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Land I Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES None BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,183,114 (see Item 5) REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH None -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.24% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 10
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 10 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Richmond Land Corporation - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES None BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,183,114 (see Item 5) REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH None -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.24% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 11
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 11 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Holding I Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,183,114 (see Item 5) BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 2,183,114 (see Item 5) -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,183,114 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.24% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 12
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 12 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Properties Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,767,856 BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 2,767,856 -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,767,856 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.64% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 13
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 13 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Properties Investors Trust - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Maryland - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES None BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,767,856 (see Item 5) REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH None -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,767,856 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,767,856 (see Item 5) - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.64% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 14
SCHEDULE 13D - ---------- -------------------------------------------------------------------------------------------------------------------- CUSIP NO. 105368203 PAGE 14 OF 18 - ---------- -------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Commonwealth Atlantic Development Inc. - ---------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO (See Item 3) - ---------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ---------- -------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 78,080 BENEFICIALLY -------- -------------------------------------------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH None REPORTING -------- -------------------------------------------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 78,080 -------- -------------------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER None - ---------- -------------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 78,080 - ---------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.19% - ---------- -------------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ---------- --------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 15 PAGE 15 OF 18 ITEM 1 SECURITY AND ISSUER. This statement relates to common shares, par value $.01 per common share (the "Common Shares"), of Brandywine Realty Trust, a Maryland real estate investment trust (NYSE: BDN) ("Brandywine"). Brandywine has its principal executive offices at 16 Campus Boulevard, Suite 150, Newtown Square, PA 19073. ITEM 2 IDENTITY AND BACKGROUND. (a) This statement is filed by Prometheus AAPT Holdings, L.L.C., a Delaware limited liability company ("Holdings"), Commonwealth Atlantic Operating Properties Inc., a Virginia corporation ("CAOP"), Commonwealth Atlantic Land II Inc., a Virginia corporation ("CAL"), Commonwealth Atlantic Development Inc., a Virginia corporation, ("CADI" and, together with CAOP and CAL, individually and collectively, the "CAP Sellers"), Commonwealth Atlantic Land I Inc., a Virginia corporation ("CAL I"), Commonwealth Atlantic Land III Inc., a Virginia corporation ("CAL III"), Commonwealth Atlantic Land V Inc., a Virginia corporation ("CAL V"), Richmond Land Corporation, a Virginia corporation ("RLC"), Commonwealth Atlantic Holding I Inc., a Virginia corporation ("CAHI"), Commonwealth Atlantic Properties Inc., a Virginia real estate investment trust ("CAPI"), Commonwealth Atlantic Properties Investors Trust, a Maryland real estate investment trust ("CAPIT"), Lazard Freres Real Estate Investors L.L.C., a New York limited liability company ("LFREI"), and LF Strategic Realty Investors L.P., a Delaware limited partnership ("LFSRI" and, together with Holdings, CAL I, CAL III, CAL V, RLC, CAHI, CAPI, CAPIT, LFREI and the CAP Sellers, the "Reporting Persons"). (b) The principal business offices of LFREI, LFSRI, Holdings and CAPIT are c/o Lazard Freres Real Estate Investors L.L.C., 30 Rockefeller Plaza, 63rd Floor, New York, New York 10020. The principal business offices of CAL I, CAL III, CAL V, RLC, CAHI, CAPI and the CAP Sellers are c/o 66 Canal Center Plaza, 7th Floor, Alexandria, VA 22314. The name, business address and principal occupation or employment of the executive officers and, as applicable, directors and trustees of LFREI, CAOP, CAL I, CAL III, CAL V, RLC, CAPIT, CAPI, CAHI, CAL and CADI are set forth on Schedules 1 through 11. (c) LFSRI is an investment partnership formed to invest in companies active in the real estate industry. The general partner of the partnership is LFREI. LFREI's activities consist principally of acting as general partner of several real estate investment partnerships that are affiliated with Lazard Freres & Co. L.L.C. ("Lazard"). LFREI and Lazard disclaim beneficial ownership of any of the Common Shares reported in this Statement. Holdings is a vehicle formed to complete the sale of certain assets to Brandywine and hold certain investments of its sole member, LFSRI. Each of CAPIT, CAPI, CAOP, CAL, RLC, CAHI, CAL I, CAL III, CAL V, RLC, and CADI directly or indirectly hold certain real estate investments of LFSRI. LFSRI owns one-hundred percent of the common shares of CAPIT. LFSRI owns 84% and CAPIT 16 PAGE 16 OF 18 owns 16% of the common shares of CAPI. CADI, RLC, CAL I, CAL III, CAL V and CAL are wholly owned by CAPI. CAOP is wholly owned by CAHI, which is owned by CAPI, CAL, CAL I, CAL III, CAL V and RLC. CAPI has a 30%, CAL has a 34%, CAL I has a 22%, CAL III has a 6%, CAL V has a 4% and RLC has a 4% ownership interest in CAHI. (d) No person described in Item 2(c) nor, to the best knowledge of the Reporting Persons, any person listed on any of Schedules 1 through 11 during the past five years has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors). (e) No person described in Item 2(c) nor, to the best knowledge of the Reporting Persons, any person listed on any of Schedules 1 through 11 during the last five years has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Each person listed on Schedules 1 through 11 are U.S. Citizens, except as listed on Schedule 2. ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Holdings received shares of beneficial interest in Brandywine having a stated value of $37,500,000 and the CAP Sellers received preferred units of Brandywine Operating Partnership, L.P. ("Buyer OP") having a stated value of $97,500,000, each as described in Item 5, in exchange for their interests in certain real estate assets which were sold to Brandywine and Buyer OP (together, the "Buyers") pursuant to a Purchase and Contribution Agreement (the "Purchase Agreement"), dated as of August 6, 1998, among the Buyers, LFSRI, Holdings, the CAP Sellers and Commonwealth Atlantic Land IV Inc., a Virginia corporation. ITEM 4 PURPOSE OF TRANSACTION. Holdings and the CAP Sellers sold their investment in certain real estate assets to the Buyers and received the interests described in Item 5 as a portion of the purchase price. The Reporting Persons are holding the received interests for investment purposes. The Reporting Persons may over time to dispose of their interests in Brandywine, to the extent converted in accordance with their terms into Common Shares, as described in Item 5, through sales of all or a portion of such Common Shares in the open market or in privately negotiated transactions, or through redemption of such interests for cash pursuant to the terms thereof as described in Item 5. The amount and timing of such dispositions will depend upon the Reporting Persons' review of numerous factors, including, among other things, the price levels of the Common Shares, general market and economic conditions, ongoing evaluation of the company's assets and operations and the attractiveness of alternative business and investment opportunities. Pursuant to the Board of Trustees Designation Letter, dated as of September 28, 1998 and filed as Exhibit 2 hereto and incorporated herein by reference, Brandywine will use its 17 PAGE 17 OF 18 commercially reasonable efforts to cause a person selected by LFSRI to be nominated at each annual election of the Board until LFSRI no longer directly or indirectly owns a certain portion of the Buyer's securities. ITEM 5 INTEREST IN SECURITIES OF THE ISSUER. (a) Holdings owns of record and beneficially 750,000 shares of 7.25% Series A Cumulative Convertible Preferred Shares of beneficial interest in Brandywine with an aggregate liquidation preference of $37,500,000 ("Preferred Shares"). Such Preferred Shares are convertible into Common Shares at a conversion price of $28 per share; provided that if the Common Shares have traded at $23 per share or lower during the 60 trading day period ending December 31, 2003, the Conversion Price is reduced to $26.50. CAOP owns of record and beneficially 1,222,544 Class B preferred units of Buyer OP (the "Preferred Units"), CAL owns of record and beneficially 283,731 Preferred Units and CADI owns of record and beneficially 43,725 Preferred Units. Each Preferred Unit has a liquidation preference of $50.00 The Preferred Units may be redeemed at the option of Holdings for Class A Units of Buyer OP ("Class A Units") at a conversion price of $28 per unit; provided that if the Common Shares have traded at $23 per share or lower during the 60 trading day period ending December 31, 2003, the Conversion Price is reduced to $26.50. The Class A Units are mandatorily redeemable at the option of each CAP Seller for cash beginning on September 28, 1999; provided, however, that Brandywine, as the general partner of Buyer OP, may elect at its sole discretion to purchase any Class A Units requested to be redeemed or exchange such units for Common Shares of Brandywine on a one for one basis. Assuming each of the Reporting Persons owning Preferred Shares or Preferred Units converts all its Preferred Shares to Common Shares, at a conversion price of $28.00 per share, and converts all its Preferred Units to Class A Units, at a conversion price of $28.00 per unit, which are then converted to Common Shares, LFSRI will beneficially own 4,107,143, or 9.85%, of the outstanding Common Shares of Brandywine (based on Brandywine's Quarterly Report on form 10Q for the period ended March 31, 1999, as filed with the Securities and Exchange Commission). With respect to each other Reporting Person, assuming such full conversion: (1) as the record holders of Common Shares, (a) Holdings will beneficially own 1,339,286, or 3.21%, (b) CAOP will beneficially own 2,183,114, or 5.24%, and (c) CADI will beneficially own 78,080, or 0.19%, of the outstanding Common Shares, (2) CAL will beneficially own 2,689,777 (506,663 which it will own of record and 2,183,114 which it may be deemed to beneficially own by virtue of its indirect interest in CAOP), or 6.45%, of the Common Shares, (3) CAHI, as the sole shareholder of CAOP, may be deemed to beneficially own 2,183,114, or 5.24%, of the Common Shares, 18 (4) as shareholders of CAHI, the sole shareholder of CAOP, each of CAL I, CAL III, CAL V, and RLC may be deemed to beneficially own 2,183,114, or 5.24%, of the Common Shares, (5) CAPI as the 100% direct and indirect shareholder of CAOP, CAL and CADI may be deemed to beneficially own 2,767,856, or 6.64%, of the Common Shares, and (6) as a shareholder of CAPI, CAPIT may be deemed to beneficially own 2,767,856 , or 6.64%, of the Common Shares. LFREI disclaims beneficial ownership of any of the Common Shares reported in this Statement. (b) Assuming full conversion in each case above, LFREI, as general partner of LFSRI, would have the power to direct the vote and disposition of 4,107,143 Common Shares. Each of Holdings, CAOP, CAL and CADI would have the power to vote or dispose or direct the vote or disposition of its directly owned Common Shares, as described in Item 5(a). CAPIT as a shareholder of CAPI may be deemed to have the shared power along with LFSRI to direct the vote or disposition of the Common Shares held by CAOP, CAL and CADI. CAPI as the 100% direct and indirect shareholder of CAOP, CAL and CADI may be deemed to have the sole power to direct the vote or disposition of the Common Shares owned by CAOP, CAL and CADI. Each of CAL, CAL I, CAL III, CAL V, RLC and CAPI, as the shareholders of CAHI, the sole shareholder of CAOP, may be deemed to have the shared power to direct the vote or disposition of the Common Shares owned by CAOP. CAHI as the sole shareholder of CAOP may be deemed to have the sole power to direct the vote or disposition of the Common Shares owned by CAOP. (c) No persons described in Item 2(c) has acquired or disposed of any shares of Common Shares during the past sixty days. No person, other than as reported in this Statement with respect to the Reporting Persons, beneficially owns any Common Shares. ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Except as otherwise disclosed, there are no contracts, arrangements, understandings or relationships with respect to securities of Brandywine. ITEM 7 MATERIAL TO BE FILED AS EXHIBITS. Exhibit 1. Joint Filing Agreement. Exhibit 2. Board of Trustees Designation Letter. 19 After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. PROMETHEUS AAPT HOLDINGS, L.L.C. By: LF Strategic Realty Investors L.P., its sole member By: Lazard Freres Real Estate Investors L.L.C., its general partner By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: Principal and Chief Financial Officer of LFREI LF STRATEGIC REALTY INVESTORS L.P. By: Lazard Freres Real Estate Investors L.L.C., its general partner By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: Principal and Chief Financial Officer of LFREI LAZARD FRERES REAL ESTATE INVESTORS L.L.C. By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: Principal and Chief Financial Officer of LFREI 20 COMMONWEALTH ATLANTIC OPERATING PROPERTIES INC. By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND II INC. By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: COMMONWEALTH ATLANTIC DEVELOPMENT INC. By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC PROPERTIES INVESTORS TRUST By: /s/ John A. Moore ----------------------------------------- Name: John A. Moore Title: Vice President, Chief Financial Officer and Trustee 21 COMMONWEALTH ATLANTIC PROPERTIES INC. By: /s/ John A. Moore ------------------------------ Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND III INC. By: /s/ John A. Moore ------------------------------ Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND V INC. By: /s/ John A. Moore ------------------------------ Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC HOLDING I INC. By: /s/ John A. Moore ------------------------------ Name: John A. Moore Title: Vice President 22 RICHMOND LAND CORPORATION By: /s/ John A. Moore ------------------------------ Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND I INC. By: /s/ John A. Moore ------------------------------ Name: John A. Moore Title: Vice President 23 SCHEDULE 1 EXECUTIVE OFFICERS AND TRUSTEES OF CAPIT
NAME OF OFFICER OR TRUSTEE BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - -------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, President and Trustee of CAPIT New York, NY 10020 Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, Vice President and Trustee of CAPIT New York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, Vice President, Chief Financial New York, NY 10020 Officer and Trustee of CAPIT Anthony E. Meyer 30 Rockefeller Plaza, 63rd Floor, Vice President of CAPIT New York, NY 10020 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, Treasurer of CAPIT New York, NY 10020 Marjorie L. Reifenberg 30 Rockefeller Plaza, 63rd Floor, Secretary of CAPIT New York, NY 10020
24 SCHEDULE 2 EXECUTIVE OFFICERS OF LFREI The business address for each of the following persons is 30 Rockefeller Plaza, 63rd Floor, New York, NY 10020. NAME OF OFFICER PRESENT OFFICE WITH COMPANY - --------------- --------------------------- Matthew J. Lustig Head of Lazard Real Estate Investment Activities; Managing Director of Lazard; Acting Chief Executive Officer of LFREI Mark Ticotin Chief Operating Officer of LFREI Anthony E. Meyer Principal of LFREI Klaus P. Kretschmann Principal of LFREI Marjorie L. Reifenberg Principal, General Counsel and Secretary of LFREI Douglas Healy Principal of LFREI John A. Moore Principal and CFO of LFREI Douglas N. Wells* Vice President of LFREI Gregory Weinberger Vice President of LFREI Paul Froning Vice President of LFREI Henry C. Herms Comptroller of LFREI Ellery Roberts Vice President of LFREI *Canadian citizen 25 SCHEDULE 3 EXECUTIVE OFFICERS AND DIRECTORS OF CAPI
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of CAPI York, NY 10020 Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAPI York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAPI York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAPI Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAPI York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of CAPI Richmond, VA 23219 Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAPI York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of CAPI Alexandria, VA 22314 Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAPI James Center, 901 East Cary Street, Richmond, VA 23219-4030 Robert C. Larson Taubman Realty Group, 200 East Long Lake Chairman and Director of CAPI Road, Suite 300, Bloomfield Hills, MI 48304-0200
26 Gregory L. Weinberger 30 Rockefeller Plaza, 63rd Floor, New Director of CAPI York, NY 10020 Adrianne M. Horne CT Corporation System, Corporation Trust Director of CAPI Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAPI Alexandria, VA 22314
27 SCHEDULE 4 EXECUTIVE OFFICERS AND DIRECTORS OF CAL I
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of CAL I York, NY 10020 Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL I York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL I York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAL I Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL I York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of CAL I Richmond, VA 23219 Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL I York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of CAL I Alexandria, VA 22314 Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAL I James Center, 901 East Cary Street, Richmond, VA 23219-4030 Adrianee M. Horne CT Corporation System, Corporation Trust Director of CAL I Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAL I Alexandria, VA 22314
28 SCHEDULE 5 EXECUTIVE OFFICERS AND DIRECTORS OF CAL
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of CAL York, NY 10020 Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAL Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of Richmond, VA 23219 CAL Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of CAL Alexandria, VA 22314 Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAL James Center, 901 East Cary Street, Richmond, VA 23219-4030 Camilia M. Denny CT Corporation System, Corporation Trust Director of CAL Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAL Alexandria, VA 22314
29 SCHEDULE 6 EXECUTIVE OFFICERS AND DIRECTORS OF CAL III
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of CAL York, NY 10020 III Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL III York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL III York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAL III Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL III York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of CAL Richmond, VA 23219 III Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL III York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of CAL Alexandria, VA 22314 III Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAL III James Center, 901 East Cary Street, Richmond, VA 23219-4030 Mary Ann Brzoska CT Corporation System, Corporation Trust Director of CAL III Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAL III Alexandria, VA 22314
30 SCHEDULE 7 EXECUTIVE OFFICERS AND DIRECTORS OF CAL V
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of CAL York, NY 10020 V Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL V York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL V York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAL V Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL V York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of Richmond, VA 23219 CAL V Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAL V York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of Alexandria, VA 22314 CAL V Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAL V James Center, 901 East Cary Street, Richmond, VA 23219-4030 Bonnie A. Schuman CT Corporation System, Corporation Trust Director of CAL V Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAL V Alexandria, VA 22314
31 SCHEDULE 8 EXECUTIVE OFFICERS AND DIRECTORS OF CADI
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of York, NY 10020 CADI Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CADI York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CADI York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CADI Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CADI York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of Richmond, VA 23219 CADI Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CADI York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of Alexandria, VA 22314 CADI Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CADI James Center, 901 East Cary Street, Richmond, VA 23219-4030 Mary Ann Brzoska CT Corporation System, Corporation Trust Director of CADI Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CADI Alexandria, VA 22314
32 SCHEDULE 9 EXECUTIVE OFFICERS AND DIRECTORS OF CAHI
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of York, NY 10020 CAHI Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAHI York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAHI York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAHI Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAHI York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of Richmond, VA 23219 CAHI Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAHI York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of Alexandria, VA 22314 CAHI Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAHI James Center, 901 East Cary Street, Richmond, VA 23219-4030 Bonnie A. Schuman CT Corporation System, Corporation Trust Director of CAHI Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAHI Alexandria, VA 22314
33 SCHEDULE 10 EXECUTIVE OFFICERS AND DIRECTORS OF CAOP
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of CAOP York, NY 10020 Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAOP York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAOP York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of CAOP Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAOP York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of Richmond, VA 23219 CAOP Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of CAOP York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of Alexandria, VA 22314 CAOP Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of CAOP James Center, 901 East Cary Street, Richmond, VA 23219-4030 William J. Reif CT Corporation System, Corporation Trust Director of CAOP Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of CAOP Alexandria, VA 22314
34 SCHEDULE 11 EXECUTIVE OFFICERS AND DIRECTORS OF RLC
NAME OF OFFICER OR DIRECTOR BUSINESS ADDRESS PRESENT OFFICE WITH COMPANY - --------------------------- ---------------- --------------------------- Matthew J. Lustig 30 Rockefeller Plaza, 63rd Floor, New Chairman and Director of RLC York, NY 10020 Mark S. Ticotin 30 Rockefeller Plaza, 63rd Floor, New Vice President of RLC York, NY 10020 John A. Moore 30 Rockefeller Plaza, 63rd Floor, New Vice President of RLC York, NY 10020 Christopher L. Keefer McGuire Woods Battle & Boothe, LLP, 8280 Assistant Secretary of RLC Greensboro Drive, Suite 900, Tysons Corner, McLean, VA 022102-3892 Henry C. Herms 30 Rockefeller Plaza, 63rd Floor, New Vice President of RLC York, NY 10020 Brent W. Sinnett 600 East Main Street, Suite 2300, Chief Financial Officer of Richmond, VA 23219 RLC Klaus P. Kretschmann 30 Rockefeller Plaza, 63rd Floor, New Vice President of RLC York, NY 10020 Richard I. Gilchrist 66 Canal Center Plaza, 7th Floor, President and Director of Alexandria, VA 22314 RLC Charles L. Menges McGuire Woods Battle & Boothe, LLP, One Secretary of RLC James Center, 901 East Cary Street, Richmond, VA 23219-4030 William J. Reif CT Corporation System, Corporation Trust Director of RLC Center, 1209 Orange Street, Wilmington, DE 19801 Jeffrey I. Sofferman 66 Canal Center Plaza, 7th Floor, Vice President of RLC Alexandria, VA 22314
EX-99.1 2 JOINT FILING AGREEMENT 1 EXHIBIT 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the common shares of beneficial interest, par value $.01 per share, of Brandywine Realty Trust, a Maryland real estate investment trust, and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of the 10th day of August 1999. PROMETHEUS AAPT HOLDINGS, L.L.C. By: LF Strategic Realty Investors L.P., its sole member By: Lazard Freres Real Estate Investors L.L.C., its general partner By: /s/ John A. Moore ---------------------------------------------- Name: John A. Moore Title: Principal and Chief Financial Officer of LFREI LF STRATEGIC REALTY INVESTORS L.P. By: Lazard Freres Real Estate Investors L.L.C., its general partner By: /s/ John A. Moore ---------------------------------------------- Name: John A. Moore Title: Principal and Chief Financial Officer of LFREI 2 LAZARD FRERES REAL ESTATE INVESTORS L.L.C. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Principal and Chief Financial Officer of LFREI COMMONWEALTH ATLANTIC OPERATING PROPERTIES INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND II INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC DEVELOPMENT INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President 3 COMMONWEALTH ATLANTIC PROPERTIES INVESTORS TRUST By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President, Chief Financial Officer and Trustee COMMONWEALTH ATLANTIC PROPERTIES INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND III INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND V INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President 4 COMMONWEALTH ATLANTIC HOLDING I INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President RICHMOND LAND CORPORATION By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President COMMONWEALTH ATLANTIC LAND I INC. By: /s/ John A. Moore ------------------------------------------- Name: John A. Moore Title: Vice President EX-99.2 3 BOARD OF TRUSTEES DESIGNATION LETTER 1 BRANDYWINE REALTY TRUST 16 CAMPUS BOULEVARD NEWTOWN SQUARE, PA 19073 September 28, 1998 LF Strategic Realty Investors, L.P. 30 Rockefeller Plaza, 63rd Floor New York, NY 10020 Ladies and Gentlemen: Reference is made to the Purchase and Contribution Agreement dated as of August 6, 1998 by and among Brandywine Realty Trust (the "Trust"), Brandywine Operating Partnership, L.P. (the "Operating Partnership"), LF Strategic Realty Investors L.P., Prometheus AAPT and the other signatories thereto (the "Purchase Agreement"). Unless otherwise defined herein, capitalized terms not defined herein shall have the meanings ascribed to them in the Purchase Agreement. 1. Initial Appointment: Designation Right. On the date hereof, and in recognition of the benefits realized by the Trust from the sale of certain assets owned by LF Strategic Realty Investors, L.P. ("LFSRI"), and in accordance with Sections 2.1 and 2.4 of the Declaration of Trust (the "Declaration") of the Trust, the Board of Trustees (the "Board") has increased the number of Trustees of the Trust from five to six and appointed Murry Gunty to fill the vacancy created by such increase. In further recognition of such benefits, the Trust agrees to use commercially reasonable efforts, during the Term and subject to compliance with applicable law and the Declaration, to cause Murry Gunty (or such replacement for Murry Gunty as LFSRI may select and who is reasonably acceptable to the Board) to be nominated for election to the Board at each annual meeting of shareholders of the Trust and, if elected, to serve until the next annual meeting of shareholders of the Trust and until his or her successor is elected and qualified. The Trust's agreement contained herein shall terminate upon expiration of the Term. Upon expiration of the Term, the holders of a majority of the Board may, in their discretion, request such designee to resign from the Board. 2. The Designee. The Trust acknowledges that each of Murry Gunty and Klaus Kretschmann is reasonably acceptable to the Board. LFSRI acknowledges that the Board shall be acting reasonably if (i) it refuses to nominate a person for election to the Board pursuant to paragraph 1 above if the Trust would be required to make any of the disclosures required by Item 401(f) of Regulation S-K promulgated by the Securities and Exchange Commission (the "SEC") with respect to such person in filings with the SEC or (ii) if the Designee shall also be serving as a director or trustee or an executive of a competitor of the Trust and the Board believes that such person's membership on the Board would pose a threat to the Trust's interest; 2 provided, however, that in the event that any LFSRI designee to the Board is deemed unacceptable pursuant to the provisions of this paragraph 2, LFSRI shall have the right to propose a replacement for such designee. 3. Attendance Right. If for any reason LFSRI's acceptable designee to the Board is not elected to the Board during the Term, LFSRI have the right, during the Term, to have an individual attend, in a non-voting capacity, all meetings of the Board. Such individual shall be entitled to receive the same notice with respect to all meetings of the Board as is provided to voting members of the Board and shall hold all information obtained in connection with such notices and meetings in confidence to the same extent as if such individual was a voting member of the Board. 4. Definitions. The following terms have the meanings specified: a. "Affiliate" shall have the meaning specified in Rule 405 promulgated under the Securities Act of 1933, as amended. b. "Change in Control" shall mean (i) approval by shareholders of the Trust of: (A) a merger, reorganization or consolidation involving the Trust if the shareholders of the Trust immediately before such merger, reorganization or consolidation do not or will not own directly or indirectly immediately following such merger, reorganization or consolidation, more than fifty percent (50%) of the combined voting power of the outstanding voting securities of the Trust resulting from or surviving such merger, reorganization or consolidation in substantially the same proportion as their ownership of the Voting Securities outstanding immediately before such merger, reorganization or consolidation; or (B) a complete liquidation or dissolution of the Trust; or (C) an agreement for the sale or other disposition of all or substantially all of the assets of the Trust; or (ii) acceptance by shareholders of the Trust of shares in a share exchange if the shareholders of the Trust immediately before such share exchange do not or will not own directly or indirectly immediately following such share exchange more than fifty percent (50%) of the combined voting power of the outstanding voting securities of the entity resulting from or surviving such share exchange in substantially the same proportion as their ownership of the Voting Securities outstanding immediately before such share exchange. c. "Common Share" shall mean a common share of beneficial interest, par value $.01 per share, of the Trust. d. "Conversion Price" shall have the meaning specified in, and shall be subject to adjustment as and to the extent provided in, the amendment to the Amended and Restated Agreement of Limited Partnership of the Partnership establishing the designation, preferences and other rights of the Series B Preferred Units. e. "Designee" means Murry Gunty or such replacement to Murry Gunty who is serving on the Board pursuant the agreement contained in this letter. -2- 3 f. "Term" shall mean the period of time commencing on the date hereof and ending on the earliest to occur of the following: (i) the date that LFSRI ceases to own, directly or indirectly, any combination of (a) the Series A Preferred Shares issued on the date hereof, (b) the Common Shares issued on redemption or conversion of such Series A Preferred Shares, (c) the Series B Preferred Units issued on the date hereof, (d) the Class A Common Units issued on redemption or conversion of such Series B Preferred Units and (e) the Common Shares issued on redemption of such Class A Common Units having an aggregate Value at least equal to 60% of the aggregate Value of the Series A Preferred Shares and the Series B Preferred Units issued on the date hereof and (ii) the occurrence of a Change in Control. g. "Value" shall be calculated by attributing (i) $50 to each Series A Preferred Share and to each Series B Preferred Unit and (ii) an amount equal to the then current Conversion Price of the Series B Preferred Units to each Common Share issued upon redemption or conversion of a Series A Preferred Share, to each Class A Unit issued on redemption or conversion of a Series B Preferred Unit and to each Common Share issued upon redemption of a Class A Unit (such Series A Preferred Shares, Series B Preferred Units, Class A Units and Common Shares are collectively referred to herein as the "Securities"). Very truly yours, BRANDYWINE REALTY TRUST By: /s/ Gerard H. Sweeny ------------------------------------- Gerard H. Sweeny President and Chief Executive Officer Agreed and accepted this 25th day of September, 1998 by: LF STRATEGIC REALTY INVESTORS, L.P. By: LAZARD FRERES REAL ESTATE INVESTORS, L.L.C., its general partner By: /s/ Murry N. Gunty ----------------------- Name: Murry N. Gunty Title: Principal -3- -----END PRIVACY-ENHANCED MESSAGE-----