XML 16 R2.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Real estate investments:    
Operating properties $ 3,597,211 $ 3,617,240
Accumulated depreciation (1,125,145) (1,063,060)
Right of use asset - operating leases, net 19,346 19,664
Operating real estate investments, net 2,491,412 2,573,844
Construction-in-progress 245,677 218,869
Land held for development 71,493 76,499
Prepaid leasehold interests in land held for development, net 27,762 35,576
Total real estate investments, net 2,836,344 2,904,788
Assets held for sale, net 52,664 0
Cash and cash equivalents 32,111 17,551
Restricted cash and escrows 10,876 0
Accounts receivable 11,654 11,003
Accrued rent receivable, net of allowance of $3,778 and $3,947 as of June 30, 2023 and December 31, 2022, respectively 183,191 179,771
Investment in unconsolidated real estate ventures 630,505 567,635
Deferred costs, net 95,102 96,639
Intangible assets, net 11,676 18,451
Other assets 90,362 78,667
Total assets 3,954,485 3,874,505
LIABILITIES AND BENEFICIARIES' EQUITY    
Secured term loan, net 241,383 0
Unsecured credit facility 0 88,500
Unsecured term loan, net 318,065 248,168
Unsecured senior notes, net 1,574,373 1,628,370
Accounts payable and accrued expenses 116,913 132,440
Distributions payable 32,957 32,792
Deferred income, gains and rent 24,786 25,082
Intangible liabilities, net 8,811 10,322
Liabilities related to assets held for sale, net 1,041 0
Lease liability - operating leases 23,268 23,166
Other liabilities 56,228 52,331
Total liabilities 2,397,825 2,241,171
Commitments and contingencies (See Note 14)
Brandywine Realty Trust's Equity:    
Common Shares of Brandywine Realty Trust's beneficial interest, $0.01 par value; shares authorized 400,000,000; 172,101,929 and 171,569,807 issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 1,719 1,716
Additional paid-in-capital 3,159,276 3,153,229
Deferred compensation payable in common shares 19,965 19,601
Common shares in grantor trust, 1,207,415 and 1,179,643 issued and outstanding as of June 30, 2023 and December 31, 2022, respectively (19,965) (19,601)
Cumulative earnings 1,158,240 1,176,195
Accumulated other comprehensive income 5,216 3,897
Cumulative distributions (2,775,124) (2,709,405)
Total Brandywine Realty Trust's equity 1,549,327 1,625,632
Noncontrolling interests 7,333 7,702
Total beneficiaries' equity 1,556,660 1,633,334
Total liabilities and beneficiaries' equity $ 3,954,485 $ 3,874,505