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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue                
Total revenue $ 131,782     $ 129,372     $ 383,612 $ 384,481
Operating expenses                
Property operating expenses 31,900     31,123     95,532 96,608
Real estate taxes 11,892     12,808     37,019 38,981
Third party management expenses 2,487     2,468     7,456 7,664
Depreciation and amortization 44,301     48,966     133,530 141,645
General and administrative expenses 12,681     8,069     32,726 26,911
Provision for impairment 37,980     11,666     44,407 16,134
Total operating expenses 141,241     115,100     350,670 327,943
Gain on sale of real estate                
Net gain on sale of undepreciated real estate 0     0     0 781
Total gain on sale of real estate 0     0     0 781
Operating income (loss) (9,459)     14,272     32,942 57,319
Other income (expense):                
Interest and investment income 639     293     2,572 1,318
Interest expense (30,561)     (24,355)     (85,104) (70,677)
Interest expense - amortization of deferred financing costs (1,247)     (1,110)     (3,753) (3,251)
Equity in loss of unconsolidated real estate ventures (125,862)     (10,739)     (153,957) (24,504)
Net gain on real estate venture transactions 770     0     54,503 181
Gain on early extinguishment of debt 0     0     941 0
Net loss before income taxes (165,720)     (21,639)     (151,856) (39,614)
Income tax benefit (provision) 0     3     (11) (35)
Net loss (165,720) $ 30,267 $ (16,414) (21,636) $ (12,737) $ (5,276) (151,867) (39,649)
Net loss attributable to noncontrolling interests 500     82     452 140
Net loss attributable to Brandywine Realty Trust (165,220)     (21,554)     (151,415) (39,509)
Nonforfeitable dividends allocated to unvested restricted shareholders (276)     (159)     (889) (433)
Net loss attributable to common shareholders, basic $ (165,496)     $ (21,713)     $ (152,304) $ (39,942)
Basic loss per Common Share (in dollars per share) $ (0.96)     $ (0.13)     $ (0.88) $ (0.23)
Diluted loss per Common Share (in dollars per share) $ (0.96)     $ (0.13)     $ (0.88) $ (0.23)
Basic weighted average shares outstanding (in shares) 172,668,731     172,097,661     172,480,325 171,912,552
Diluted weighted average shares outstanding (in shares) 172,668,731     172,097,661     172,480,325 171,912,552
Rents                
Revenue                
Total revenue $ 117,958     $ 121,661     $ 354,975 $ 360,642
Third party management fees, labor reimbursement and leasing                
Revenue                
Total revenue 6,093     6,553     17,685 18,782
Other                
Revenue                
Total revenue $ 7,731     $ 1,158     $ 10,952 $ 5,057