XML 25 R8.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED BALANCE SHEETS - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate investments:    
Operating properties $ 3,517,995 $ 3,472,602
Accumulated depreciation (980,860) (957,450)
Right of use asset - operating leases, net 20,150 20,313
Operating real estate investments, net 2,557,285 2,535,465
Construction-in-progress 283,323 277,237
Land held for development 94,411 114,604
Prepaid leasehold interests in land held for development, net 27,762 27,762
Total real estate investments, net 2,962,781 2,955,068
Assets held for sale, net 25,205 562
Cash and cash equivalents 39,306 27,463
Accounts receivable 14,214 11,875
Accrued rent receivable, net of allowance of $4,081 and $4,133 as of March 31, 2022 and December 31, 2021, respectively 170,275 167,210
Investment in unconsolidated real estate ventures 461,389 435,506
Deferred costs, net 87,652 86,862
Intangible assets, net 25,580 28,556
Other assets 148,493 133,094
Total assets 3,934,895 3,846,196
LIABILITIES AND EQUITY    
Unsecured credit facility 156,000 23,000
Unsecured term loan, net 249,738 249,608
Unsecured senior notes, net 1,580,845 1,580,978
Accounts payable and accrued expenses 130,073 150,151
Distributions payable 32,814 32,765
Deferred income, gains and rent 24,758 23,849
Intangible liabilities, net 12,085 12,981
Lease liability - operating leases 23,014 22,962
Other liabilities 49,705 48,683
Total liabilities 2,259,032 2,144,977
Commitments and contingencies (See Note 15)
Equity:    
Accumulated other comprehensive income (loss) 1,920 (2,020)
Total liabilities and beneficiaries' equity 3,934,895 3,846,196
BRANDYWINE OPERATING PARTNERSHIP, L.P.    
Real estate investments:    
Operating properties 3,517,995 3,472,602
Accumulated depreciation (980,860) (957,450)
Right of use asset - operating leases, net 20,150 20,313
Operating real estate investments, net 2,557,285 2,535,465
Construction-in-progress 283,323 277,237
Land held for development 94,411 114,604
Prepaid leasehold interests in land held for development, net 27,762 27,762
Total real estate investments, net 2,962,781 2,955,068
Assets held for sale, net 25,205 562
Cash and cash equivalents 39,306 27,463
Accounts receivable 14,214 11,875
Accrued rent receivable, net of allowance of $4,081 and $4,133 as of March 31, 2022 and December 31, 2021, respectively 170,275 167,210
Investment in unconsolidated real estate ventures 461,389 435,506
Deferred costs, net 87,652 86,862
Intangible assets, net 25,580 28,556
Other assets 148,493 133,094
Total assets 3,934,895 3,846,196
LIABILITIES AND EQUITY    
Unsecured credit facility 156,000 23,000
Unsecured term loan, net 249,738 249,608
Unsecured senior notes, net 1,580,845 1,580,978
Accounts payable and accrued expenses 130,073 150,151
Distributions payable 32,814 32,765
Deferred income, gains and rent 24,758 23,849
Intangible liabilities, net 12,085 12,981
Lease liability - operating leases 23,014 22,962
Other liabilities 49,705 48,683
Total liabilities 2,259,032 2,144,977
Commitments and contingencies (See Note 15)
Redeemable limited partnership units at redemption value; 516,467 and 823,983 issued and outstanding as of March 31, 2022 and December 31, 2021, respectively 7,338 11,140
Equity:    
General Partnership Capital; 171,383,912 and 171,126,257 units issued and outstanding as of March 31, 2022 and December 31, 2021, respectively 1,664,107 1,689,611
Accumulated other comprehensive income (loss) 1,586 (2,366)
Total Brandywine Operating Partnership, L.P.'s equity 1,665,693 1,687,245
Noncontrolling interest - consolidated real estate ventures 2,832 2,834
Total partners' equity 1,668,525 1,690,079
Total liabilities and beneficiaries' equity $ 3,934,895 $ 3,846,196