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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Real estate investments:    
Operating properties $ 3,549,674 $ 3,542,232
Accumulated depreciation (1,163,782) (1,131,792)
Right of use asset - operating leases, net 18,875 19,031
Operating real estate investments, net 2,404,767 2,429,471
Construction-in-progress 146,194 135,529
Land held for development 81,616 82,510
Prepaid leasehold interests in land held for development, net 27,762 27,762
Total real estate investments, net 2,660,339 2,675,272
Cash and cash equivalents 43,210 58,319
Restricted cash and escrows 8,089 9,215
Accounts receivable 11,628 11,977
Accrued rent receivable, net of allowance of $2,435 and $2,672 as of March 31, 2024 and December 31, 2023, respectively 189,718 186,708
Investment in unconsolidated real estate ventures 618,042 601,227
Deferred costs, net 95,049 95,984
Intangible assets, net 7,112 7,694
Other assets 103,573 86,051
Total assets 3,736,760 3,732,447
LIABILITIES AND BENEFICIARIES' EQUITY    
Secured debt, net 260,936 255,671
Unsecured credit facility 37,000 0
Unsecured term loan, net 318,494 318,499
Unsecured senior notes, net 1,564,825 1,564,662
Accounts payable and accrued expenses 114,162 123,825
Distributions payable 26,248 26,017
Deferred income, gains and rent 25,363 24,248
Intangible liabilities, net 8,022 8,270
Lease liability - operating leases 23,415 23,369
Other liabilities 66,049 63,729
Total liabilities 2,444,514 2,408,290
Commitments and contingencies (See Note 15)
Brandywine Realty Trust's Equity:    
Common Shares of Brandywine Realty Trust's beneficial interest, $0.01 par value; shares authorized 400,000,000; 172,270,907 and 172,097,661 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 1,721 1,719
Additional paid-in-capital 3,168,661 3,163,949
Deferred compensation payable in common shares 19,996 19,965
Common shares in grantor trust, 1,145,121 and 1,194,127 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively (19,996) (19,965)
Cumulative earnings 963,038 979,406
Accumulated other comprehensive income (loss) 5,339 (668)
Cumulative distributions (2,853,199) (2,827,022)
Total Brandywine Realty Trust's equity 1,285,560 1,317,384
Noncontrolling interests 6,686 6,773
Total beneficiaries' equity 1,292,246 1,324,157
Total liabilities and beneficiaries' equity $ 3,736,760 $ 3,732,447