XML 16 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Real estate investments:    
Operating properties $ 3,694,633 $ 3,617,240
Accumulated depreciation (1,153,030) (1,063,060)
Right of use asset - operating leases, net 19,188 19,664
Operating real estate investments, net 2,560,791 2,573,844
Construction-in-progress 143,929 218,869
Land held for development 76,058 76,499
Prepaid leasehold interests in land held for development, net 27,762 35,576
Total real estate investments, net 2,808,540 2,904,788
Cash and cash equivalents 47,872 17,551
Restricted cash and escrows 10,745 0
Accounts receivable 23,130 11,003
Accrued rent receivable, net of allowance of $3,158 and $3,947 as of September 30, 2023 and December 31, 2022, respectively 185,135 179,771
Investment in unconsolidated real estate ventures 638,096 567,635
Deferred costs, net 98,049 96,639
Intangible assets, net 8,539 18,451
Other assets 102,557 78,667
Total assets 3,922,663 3,874,505
LIABILITIES AND BENEFICIARIES' EQUITY    
Secured term loan, net 241,654 0
Unsecured credit facility 0 88,500
Unsecured term loan, net 318,282 248,168
Unsecured senior notes, net 1,574,524 1,628,370
Accounts payable and accrued expenses 132,731 132,440
Distributions payable 26,018 32,792
Deferred income, gains and rent 23,222 25,082
Intangible liabilities, net 8,536 10,322
Lease liability - operating leases 23,318 23,166
Other liabilities 60,010 52,331
Total liabilities 2,408,295 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; 172,097,661 and 171,569,807 issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 1,719 1,716
Additional paid-in-capital 3,161,568 3,153,229
Deferred compensation payable in common shares 19,965 19,601
Common shares in grantor trust, 1,194,127 and 1,179,643 issued and outstanding as of September 30, 2023 and December 31, 2022, respectively (19,965) (19,601)
Cumulative earnings 1,136,686 1,176,195
Accumulated other comprehensive income 8,125 3,897
Cumulative distributions (2,801,074) (2,709,405)
Total Brandywine Realty Trust's equity 1,507,024 1,625,632
Noncontrolling interests 7,344 7,702
Total beneficiaries' equity 1,514,368 1,633,334
Total liabilities and beneficiaries' equity $ 3,922,663 $ 3,874,505