EX-25 12 ex25-1.htm EX25-1.HTM Prepared and filed by St Ives Financial

EXHIBIT 25.1

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FORM T-1

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)           |__|

___________________________

THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)

New York
(State of incorporation
if not a U.S. national bank)
13-5160382
(I.R.S. employer
identification no.)
   
One Wall Street, New York, N.Y.
(Address of principal executive offices)
10286
(Zip code)

___________________________

BRANDYWINE REALTY TRUST
(Exact name of obligor as specified in its charter)

Maryland
(State or other jurisdiction of
incorporation or organization)
23-2413352
(I.R.S. employer
identification no.)


BRANDYWINE OPERATING PARTNERSHIP, L.P.
(Exact name of obligor as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization)
23-2862640
(I.R.S. employer
identification no.)
   
401 Plymouth Road, Suite 500
Plymouth Meeting, Pennsylvania
(Address of principal executive offices)

19462
(Zip code)

___________________________

Debt Securities
(Title of the indenture securities)

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1. General information. Furnish the following information as to the Trustee:
     
  (a) Name and address of each examining or supervising authority to which it is subject.

Name Address

Superintendent of Banks of the State of New York One State Street, New York, N.Y. 10004-1417, and Albany, N.Y. 12223
   
Federal Reserve Bank of New York 33 Liberty Street, New York, N.Y. 10045
   
Federal Deposit Insurance Corporation Washington, D.C. 20429
   
New York Clearing House Association New York, New York 10005
     
  (b) Whether it is authorized to exercise corporate trust powers.
   
  Yes.
   
2. Affiliations with Obligor.
   
  If the obligor is an affiliate of the trustee, describe each such affiliation.
   
  None.
   
16. List of Exhibits.
   
  Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R. 229.10(d).
     
  1. A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195.)
     
  4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-121195.)
     
  6. The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-106702.)
     
  7. A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

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SIGNATURE

     Pursuant to the requirements of the Act, the Trustee, The Bank of New York, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 23rd day of January, 2006.

            THE BANK OF NEW YORK
               
            By: /S/ VAN K. BROWN
Name: VAN K. BROWN
Title: VICE PRESIDENT

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Exhibit 7

Consolidated Report of Condition of

THE BANK OF NEW YORK

of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,

a member of the Federal Reserve System, at the close of business September 30, 2005, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

ASSETS     Dollar Amounts
In Thousands
 
Cash and balances due from depository
    institutions:
       
    Noninterest-bearing balances and currency
     and coin
  $ 3,223,000  
    Interest-bearing balances     6,428,000  
Securities:        
    Held-to-maturity securities     2,071,000  
    Available-for-sale securities     22,899,000  
Federal funds sold and securities purchased
    under agreements to resell
       
    Federal funds sold in domestic offices     1,783,000  
    Securities purchased under agreements to
     resell
    271,000  
Loans and lease financing receivables:        
    Loans and leases held for sale     0  
    Loans and leases, net of unearned
     income
    34,349,000  
    LESS: Allowance for loan and
     lease losses
    557,000  
    Loans and leases, net of unearned
     income and allowance
    33,792,000  
Trading assets     5,761,000  
Premises and fixed assets (including
    capitalized leases)
    801,000  
Other real estate owned     0  
Investments in unconsolidated subsidiaries
    and associated companies
    288,000  
Customers’ liability to this bank on
    acceptances outstanding
    106,000  
Intangible assets:        
    Goodwill     2,158,000  
    Other intangible assets     765,000  
Other assets     5,391,000  
Total assets   $ 85,737,000  
         
LIABILITIES        
Deposits:        
    In domestic offices   $ 35,878,000  
    Noninterest-bearing     16,458,000  
    Interest-bearing     19,420,000  
    In foreign offices, Edge and Agreement
     subsidiaries, and IBFs
    26,474,000  
    Noninterest-bearing     448,000  
    Interest-bearing     26,026,000  
Federal funds purchased and securities sold
    under agreements to repurchase
       
    Federal funds purchased in domestic
     offices
    3,200,000  
    Securities sold under agreements to
     repurchase
    101,000  
Trading liabilities     2,914,000  
Other borrowed money:
    (includes mortgage indebtedness and
    obligations under capitalized leases)
    1,247,000  
Not applicable        
Bank’s liability on acceptances executed and
    outstanding
    108,000  
Subordinated notes and debentures     1,440,000  
Other liabilities     6,119,000  
Total liabilities   $ 77,481,000  
Minority interest in consolidated
    subsidiaries
    141,000  
         
EQUITY CAPITAL        
Perpetual preferred stock and related
    surplus
    0  
Common stock     1,135,000  
Surplus (exclude all surplus related to
    preferred stock)
    2,092,000  
Retained earnings     4,976,000  
Accumulated other comprehensive income     -88,000  
Other equity capital components     0  
Total equity capital     8,115,000  
Total liabilities, minority interest, and equity
    capital
  $ 85,737,000  

     I, Thomas J. Mastro, Executive Vice President and Comptroller of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

          Thomas J. Mastro,
Executive Vice President and Comptroller

     We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.

Thomas A. Renyi
Gerald L. Hassell

Directors

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