XML 24 R2.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Real estate investments:    
Operating properties $ 3,474,109 $ 4,006,459
Accumulated depreciation (896,561) (973,318)
Right of use asset - operating leases, net 20,977 21,656
Operating real estate investments, net 2,598,525 3,054,797
Construction-in-progress 210,311 180,718
Land held for development 117,984 96,124
Prepaid leasehold interests in land held for development, net 39,185 39,592
Total real estate investments, net 2,966,005 3,371,231
Assets held for sale, net 7,349 7,349
Cash and cash equivalents 46,344 90,499
Accounts receivable, net of allowance of $0 and $284 as of December 31, 2020 and December 31, 2019, respectively 13,536 16,363
Accrued rent receivable, net of allowance of $5,086 and $7,691 as of December 31, 2020 and December 31, 2019, respectively 155,372 174,144
Investment in Real Estate Ventures, equity method 401,327 120,294
Deferred costs, net 84,856 95,560
Intangible assets, net 48,570 84,851
Other assets 176,747 115,678
Total assets 3,900,106 4,075,969
LIABILITIES AND BENEFICIARIES' EQUITY    
Mortgage notes payable, net 0 313,812
Unsecured term loan, net 249,084 248,561
Unsecured senior notes, net 1,581,511 1,582,045
Accounts payable and accrued expenses 121,982 113,347
Distributions payable 32,706 33,815
Deferred income, gains and rent 21,396 35,284
Intangible liabilities, net 18,448 22,263
Lease Liability - operating leases 22,758 22,554
Other liabilities 47,573 15,985
Total liabilities 2,095,458 2,387,666
Commitments and contingencies (See Note 20)
Equity:    
Common Shares of Brandywine Realty Trust's beneficial interest, $0.01 par value; shares authorized 400,000,000; 170,572,964 and 176,480,095 issued and outstanding as of December 31, 2020 and December 31, 2019, respectively 1,707 1,766
Additional paid-in-capital 3,138,152 3,192,158
Deferred compensation payable in common shares 17,516 16,216
Common shares in grantor trust, 1,160,494 and 1,105,542 issued and outstanding as of December 31, 2020 and December 31, 2019, respectively (17,516) (16,216)
Cumulative earnings 1,110,083 804,556
Accumulated other comprehensive loss (7,561) (2,370)
Cumulative distributions (2,448,238) (2,318,233)
Total Brandywine Realty Trust's equity 1,794,143 1,677,877
Noncontrolling interests 10,505 10,426
Total beneficiaries' equity 1,804,648 1,688,303
Total liabilities and partners' equity 3,900,106 4,075,969
BRANDYWINE OPERATING PARTNERSHIP, L.P.    
Real estate investments:    
Operating properties 3,474,109 4,006,459
Accumulated depreciation (896,561) (973,318)
Right of use asset - operating leases, net 20,977 21,656
Operating real estate investments, net 2,598,525 3,054,797
Construction-in-progress 210,311 180,718
Land held for development 117,984 96,124
Prepaid leasehold interests in land held for development, net 39,185 39,592
Total real estate investments, net 2,966,005 3,371,231
Assets held for sale, net 7,349 7,349
Cash and cash equivalents 46,344 90,499
Accounts receivable, net of allowance of $0 and $284 as of December 31, 2020 and December 31, 2019, respectively 13,536 16,363
Accrued rent receivable, net of allowance of $5,086 and $7,691 as of December 31, 2020 and December 31, 2019, respectively 155,372 174,144
Investment in Real Estate Ventures, equity method 401,327 120,294
Deferred costs, net 84,856 95,560
Intangible assets, net 48,570 84,851
Other assets 176,747 115,678
Total assets 3,900,106 4,075,969
LIABILITIES AND BENEFICIARIES' EQUITY    
Mortgage notes payable, net 0 313,812
Unsecured term loan, net 249,084 248,561
Unsecured senior notes, net 1,581,511 1,582,045
Accounts payable and accrued expenses 121,982 113,347
Distributions payable 32,706 33,815
Deferred income, gains and rent 21,396 35,284
Intangible liabilities, net 18,448 22,263
Lease Liability - operating leases 22,758 22,554
Other liabilities 47,573 15,985
Total liabilities 2,095,458 2,387,666
Commitments and contingencies (See Note 20)
Redeemable limited partnership units at redemption value; 981,634 issued and outstanding as of December 31, 2020 and December 31, 2019 11,566 15,388
Equity:    
General Partnership Capital; 170,572,964 and 176,480,095 units issued and outstanding as of December 31, 2020 and December 31, 2019, respectively 1,800,945 1,674,539
Accumulated other comprehensive loss (7,935) (2,715)
Total Brandywine Operating Partnership, L.P.'s equity 1,793,010 1,671,824
Noncontrolling interest - consolidated real estate ventures 72 1,091
Total partners' equity 1,793,082 1,672,915
Total liabilities and partners' equity $ 3,900,106 $ 4,075,969