Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2018

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation Disclosure

BRANDYWINE REALTY TRUST AND BRANDYWINE OPERATING PARTNERSHIP, L.P.

Schedule III

Real Estate and Accumulated Depreciation — December 31, 2018

(in thousands)

					Initial Cost							Gross Amount Which Carried December 31, 2018
Property Name	City	State	Encumbrances (a)		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition			Land		Building & Improvements		Total (b)		Accumulated Depreciation at December 31, 2018 (c)		Year of Construction	Year Acquired	Depreciable Life
PENNSYLVANIA SUBURBS
400 Berwyn Park	Berwyn	PA		-		2,657		4,462		12,985			2,657	$	17,447		20,104.00		8,060	1999	1999	40
300 Berwyn Park	Berwyn	PA		-		2,206		13,422		3,331			2,206	$	16,753		18,959.00		9,777	1989	1997	40
1050 Westlakes Drive	Berwyn	PA		-		2,611		10,445		2,416			2,611	$	12,861		15,472.00		5,990	1984	1999	40
1200 Swedesford Road	Berwyn	PA		-		2,595		11,809		218			2,595	$	12,027		14,622.00		6,211	1994	2001	40
200 Berwyn Park	Berwyn	PA		-		1,533		9,460		2,074			1,533	$	11,534		13,067.00		6,586	1987	1997	40
1180 Swedesford Road	Berwyn	PA		-		2,086		8,342		3,110			2,086	$	11,452		13,538.00		5,496	1987	2001	40
100 Berwyn Park	Berwyn	PA		-		1,180		7,290		1,636			1,180	$	8,926		10,106.00		5,012	1986	1997	40
1160 Swedesford Road	Berwyn	PA		-		1,781		7,124		6,831			2,045	$	13,691		15,736.00		5,864	1986	2001	40
1100 Cassett Road	Berwyn	PA		-		1,695		6,779		1,662			1,695	$	8,441		10,136.00		3,714	1997	2001	40
Six Tower Bridge (181 Washington Street)	Conshohocken	PA		-		6,927		14,722		2,448			6,237	$	17,860		24,097.00		2,920	1999	2013	40
52 Swedesford Square	East Whiteland Twp.	PA		-		4,241		16,579		5,418			4,241	$	21,997		26,238.00		10,712	1988	1998	40
640 Freedom Business Center	King Of Prussia	PA		-		4,222		16,891		4,827			4,222	$	21,718		25,940.00		11,254	1991	1998	40
620 Freedom Business Center	King Of Prussia	PA		-		2,770		11,014		2,147			2,770	$	13,161		15,931.00		6,925	1986	1998	40
1000 First Avenue	King Of Prussia	PA		-		2,772		10,936		3,660			2,772	$	14,596		17,368.00		7,255	1980	1998	40
1060 First Avenue	King Of Prussia	PA		-		2,712		10,953		3,539			2,712	$	14,492		17,204.00		7,111	1987	1998	40
630 Freedom Business Center Drive	King Of Prussia	PA		-		2,773		11,144		3,592			2,773	$	14,736		17,509.00		7,517	1989	1998	40
1020 First Avenue	King Of Prussia	PA		-		2,168		8,576		3,939			2,168	$	12,515		14,683.00		6,004	1984	1998	40
1040 First Avenue	King Of Prussia	PA		-		2,860		11,282		5,037			2,860	$	16,319		19,179.00		7,941	1985	1998	40
610 Freedom Business Center Drive	King Of Prussia	PA		-		2,017		8,070		2,547			2,017	$	10,617		12,634.00		5,319	1985	1998	40
650 Park Avenue	King Of Prussia	PA		-		1,916		4,378		1,357			1,916	$	5,735		7,651.00		3,418	1968	1998	40
600 Park Avenue	King Of Prussia	PA		-		1,012		4,048		385			1,012	$	4,433		5,445.00		2,527	1964	1998	40
933 First Avenue	King Of Prussia	PA		-		3,127		20,794		(1,125	)		3,127	$	19,669		22,796.00		1,345	2017	N/A	40
500 North Gulph Road	King Of Prussia	PA		-		1,303		5,201		18,777			1,303	$	23,978		25,281.00		82	1979	1996
401 Plymouth Road	Plymouth Meeting	PA		-		6,199		16,131		16,184			6,199	$	32,315		38,514.00		14,477	2001	2000	40
Metroplex (4000 Chemical Road)	Plymouth Meeting	PA		-		4,373		24,546		452			4,373	$	24,998		29,371.00		6,941	2007	2001	40
610 West Germantown Pike	Plymouth Meeting	PA		-		3,651		14,514		3,313			3,651	$	17,827		21,478.00		7,996	1987	2002	40
600 West Germantown Pike	Plymouth Meeting	PA		-		3,652		15,288		2,377			3,652	$	17,665		21,317.00		7,422	1986	2002	40
630 West Germantown Pike	Plymouth Meeting	PA		-		3,558		14,743		2,522			3,558	$	17,265		20,823.00		7,157	1988	2002	40
620 West Germantown Pike	Plymouth Meeting	PA		-		3,572		14,435		1,561			3,572	$	15,996		19,568.00		6,517	1990	2002	40
660 West Germantown Pike	Plymouth Meeting	PA		-		3,694		5,487		20,715			5,405	$	24,491		29,896.00		5,636	1987	2012	30
351 Plymouth Road	Plymouth Meeting	PA		-		1,043		555		-			1,043	$	555		1,598.00		191	N/A	2000	40
150 Radnor Chester Road	Radnor	PA		-		11,925		36,986		9,273			11,897	$	46,287		58,184.00		20,332	1983	2004	29
One Radnor Corporate Center	Radnor	PA		-		7,323		28,613		23,155			7,323	$	51,768		59,091.00		28,913	1998	2004	29
201 King of Prussia Road	Radnor	PA		-		8,956		29,811		3,064			8,949	$	32,882		41,831.00		18,605	2001	2004	25
555 Lancaster Avenue	Radnor	PA		-		8,014		16,508		19,201			8,609	$	35,114		43,723.00		16,532	1973	2004	24
Four Radnor Corporate Center	Radnor	PA		-		5,406		21,390		12,918			5,705	$	34,009		39,714.00		14,908	1995	2004	30
Five Radnor Corporate Center	Radnor	PA		-		6,506		25,525		5,887			6,578	$	31,340		37,918.00		11,579	1998	2004	38
Three Radnor Corporate Center	Radnor	PA		-		4,773		17,961		1,372			4,791	$	19,315		24,106.00		9,731	1998	2004	29
Two Radnor Corporate Center	Radnor	PA		-		3,937		15,484		3,402			3,942	$	18,881		22,823.00		9,359	1998	2004	29
130 Radnor Chester Road	Radnor	PA		-		2,573		8,338		3,188			2,567	$	11,532		14,099.00		6,206	1983	2004	25
170 Radnor Chester Road	Radnor	PA		-		2,514		8,147		2,165			2,509	$	10,317		12,826.00		4,210	1983	2004	25
200 Radnor Chester Road	Radnor	PA		-		3,366		-		3,572			3,366	$	3,572		6,938.00		636	2014	2005	40
101 West Elm Street	W. Conshohocken	PA		-		6,251		25,209		3,633			6,251	$	28,842		35,093.00		9,723	1999	2005	40
1 West Elm Street	W. Conshohocken	PA		-		3,557		14,249		3,372			3,557	$	17,621		21,178.00		5,673	1999	2005	40
Four Tower Bridge (200 Barr Harbor Drive)	W. Conshohocken	PA		9,526		6,000		14,734		19			6,000	$	14,753		20,753.00		369	1998	2018	40

					Initial Cost							Gross Amount Which Carried December 31, 2018
Property Name	City	State	Encumbrances (a)		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition			Land		Building & Improvements		Total (b)		Accumulated Depreciation at December 31, 2018 (c)		Year of Construction	Year Acquired	Depreciable Life
PHILADELPHIA CBD
Cira Centre (2929 Arch Street)	Philadelphia	PA		-		-		208,570		(13,907	)		12,586	$	182,077		194,663.00		65,851	2005	N/A	40
Three Logan Square (1717 Arch Street)	Philadelphia	PA		-		-		98,188		63,532			25,195	$	136,525		161,720.00		34,908	1990	2010	40
Two Commerce Square (2001 Market  Street)	Philadelphia	PA		110,518		15,323		120,200		24,144			15,323	$	144,344		159,667.00		22,184	1992	2013	40
One Logan Square (130 North 18th Street)	Philadelphia	PA		-		14,496		107,736		28,657			14,473	$	136,416		150,889.00		56,850	1998	2004	34
Two Logan Square (100 North 18th Street)	Philadelphia	PA		82,805		16,066		100,255		19,053			16,066	$	119,308		135,374.00		45,211	1988	2004	36
One Commerce Square (2005 Market Street)	Philadelphia	PA		120,183		15,161		105,021		27,997			15,160	$	133,019		148,179.00		19,848	1987	2013	40
Cira Centre South Garage (129 South 30th Street)	Philadelphia	PA		-		-		76,008		14,183			-	$	90,191		90,191.00		17,015	2010	N/A	40
1900 Market Street	Philadelphia	PA		-		7,768		17,263		51,364			7,768	$	68,627		76,395.00		11,327	1981	2012	30
3020 Market Street	Philadelphia	PA		-		-		21,417		8,100			-	$	29,517		29,517.00		9,013	1959	2011	26
The Lift at Juniper Street (101 - 103 Juniper Street)	Philadelphia	PA		-		-		14,401		(14,401	)		-	$	-		-		-	2010	2006	40
618-634 Market Street (d)	Philadelphia	PA		-		13,365		5,791		1,952			13,365	$	7,743		21,108.00		4,601	1966	2015	5
FMC Tower at Cira Centre South (2929 Walnut Street)	Philadelphia	PA		-		-		400,294		12,964			-	$	413,258		413,258.00		31,439	2016	N/A	40
2100 Market Street (e)	Philadelphia	PA		-		18,827		-		6,594			18,854	$	6,567		25,421.00		547	N/A	2015	N/A
3000 Market Street (f)	Philadelphia	PA		-		18,924		13,080		600			18,924	$	13,680		32,604.00		1,720	1937	2017	12
The Bulletin Building (3025 Market Street) (f)	Philadelphia	PA		-		-		24,377		6,968			-	$	31,345		31,345.00		978	1953	2017	40
3001-3003 JFK Boulevard (h)	Philadelphia	PA		-		-		-		78			-	$	78		78.00		2	N/A	2018	N/A
3025 JFK Boulevard (h)	Philadelphia	PA		-		-		-		-			-	$	-		-		-	N/A	2018	N/A
METROPOLITAN WASHINGTON, D.C.
6600 Rockledge Drive	Bethesda	MD		-		-		37,421		9,349			-	$	46,770		46,770.00		13,469	1981	2006	50
2340 Dulles Corner Boulevard	Herndon	VA		-		-		-		82,248			16,129	$	66,119		82,248.00		20,429	1987	2006	40
1676 International Drive	Mclean	VA		-		18,437		97,538		3,412			18,785	$	100,602		119,387.00		25,864	1999	2006	55
8260 Greensboro Drive	Mclean	VA		-		7,952		33,964		4,559			8,102	$	38,373		46,475.00		10,083	1980	2006	52
2273 Research Boulevard	Rockville	MD		-		5,167		31,110		4,538			5,237	$	35,578		40,815.00		10,624	1999	2006	45
2275 Research Boulevard	Rockville	MD		-		5,059		29,668		8,034			5,154	$	37,607		42,761.00		12,388	1990	2006	45
2277 Research Boulevard	Rockville	MD		-		4,649		26,952		18,854			4,733	$	45,722		50,455.00		14,723	1986	2006	45
1900 Gallows Road	Vienna	VA		-		7,797		47,817		(2,381	)		5,566	$	47,667		53,233.00		19,418	1989	2006	52
8521 Leesburg Pike	Vienna	VA		-		4,316		30,885		6,826			4,397	$	37,630		42,027.00		11,046	1984	2006	51
AUSTIN, TX
11501 Burnet Road - Building 1	Austin	TX		-		3,755		22,702		117			3,755	$	22,819		26,574.00		2,489	1991	2015	35
11501 Burnet Road - Building 2	Austin	TX		-		2,732		16,305		1,562			2,732	$	17,867		20,599.00		2,268	1991	2015	35
11501 Burnet Road - Building 3	Austin	TX		-		3,688		22,348		115			3,688	$	22,463		26,151.00		2,449	1991	2015	35
11501 Burnet Road - Building 4	Austin	TX		-		2,614		15,740		81			2,614	$	15,821		18,435.00		1,725	1991	2015	35
11501 Burnet Road - Building 5	Austin	TX		-		3,689		22,354		115			3,689	$	22,469		26,158.00		2,450	1991	2015	35
11501 Burnet Road - Building 6 (g)	Austin	TX		-		2,676		15,972		13,396			2,676	$	29,368		32,044.00		1,387	1991	2015	40
11501 Burnet Road - Building 8	Austin	TX		-		1,400		7,422		100			1,400	$	7,522		8,922.00		828	1991	2015	35
11501 Burnet Road - Parking Garage	Austin	TX		-		-		19,826		102			-	$	19,928		19,928.00		2,884	1991	2015	35
One Barton Skyway (1501 South MoPac Expressway)	Austin	TX		-		10,496		47,670		(39	)		10,495	$	47,632		58,127.00		103	1999	2018	40
Two Barton Skyway (1601 South MoPac Expressway)	Austin	TX		-		10,849		53,868		(40	)		10,848	$	53,829		64,677.00		116	2000	2018	40
Three Barton Skyway (1221 South MoPac Expressway)	Austin	TX		-		10,374		47,624		(39	)		10,373	$	47,586		57,959.00		100	2001	2018	40
Four Barton Skyway (1301 South MoPac Expressway)	Austin	TX		-		13,301		57,041		(40	)		13,300	$	57,002		70,302.00		121	2001	2018	40

					Initial Cost							Gross Amount Which Carried December 31, 2018
Property Name	City	State	Encumbrances (a)		Land		Building & Improvements		Net Improvements (Retirements) Since Acquisition			Land		Building & Improvements		Total (b)		Accumulated Depreciation at December 31, 2018 (c)		Year of Construction	Year Acquired	Depreciable Life
Four Points Centre (11305 Four Points Drive)	Austin	TX		-		7,800		43,581		(40	)		7,800	$	43,541		51,341.00		91	2008	2018	40
River Place - Building 1 (6500 River Place Boulevard)	Austin	TX		-		2,004		17,680		(39	)		2,004	$	17,641		19,645.00		36	2000	2018	40
River Place - Building 2 (6500 River Place Boulevard)	Austin	TX		-		3,137		29,254		(40	)		3,137	$	29,214		32,351.00		61	2000	2018	40
River Place - Building 3 (6500 River Place Boulevard)	Austin	TX		-		3,064		26,705		(40	)		3,064	$	26,665		29,729.00		56	2000	2018	40
River Place - Building 4 (6500 River Place Boulevard	Austin	TX		-		2,273		18,617		(39	)		2,273	$	18,578		20,851.00		39	2000	2018	40
River Place - Building 5 (6500 River Place Boulevard)	Austin	TX		-		1,752		14,315		(39	)		1,752	$	14,276		16,028.00		30	2001	2018	40
River Place - Building 6 (6500 River Place Boulevard)	Austin	TX		-		1,598		12,945		(39	)		1,598	$	12,906		14,504.00		27	2001	2018	40
River Place - Building 7 (6500 River Place Boulevard)	Austin	TX		-		1,801		16,486		(39	)		1,801	$	16,447		18,248.00		35	2002	2018	40
Quarry Lake II (4516 Seton Center Parkway)	Austin	TX		-		3,970		30,546		604			3,867	$	31,253		35,120.00		-	1998	2018	40
OTHER
10 Foster Avenue	Gibbsboro	NJ		-		244		971		69			244	$	1,040		1,284.00		597	1983	1997	40
7 Foster Avenue	Gibbsboro	NJ		-		231		921		31			231	$	952		1,183.00		522	1983	1997	40
2 Foster Avenue	Gibbsboro	NJ		-		185		730		11			185	$	741		926.00		741	1974	1997	40
4 Foster Avenue	Gibbsboro	NJ		-		183		726		6			183	$	732		915.00		732	1974	1997	40
1 Foster Avenue	Gibbsboro	NJ		-		93		364		8			93	$	372		465.00		372	1972	1997	40
5 U.S. Avenue	Gibbsboro	NJ		-		21		81		2			21	$	83		104.00		59	1987	1997	40
5 Foster Avenue	Gibbsboro	NJ		-		9		32		3			9	$	35		44.00		25	1968	1997	40
Main Street - Plaza 1000	Voorhees	NJ		-		2,732		10,942		376			2,732	$	11,318		14,050.00		11,064	1988	1997	40
Main Street - Piazza	Voorhees	NJ		-		696		2,802		3,701			705	$	6,494		7,199.00		3,124	1990	1997	40
Main Street - Promenade	Voorhees	NJ		-		532		2,052		405			532	$	2,457		2,989.00		1,445	1988	1997	40
920 North King Street	Wilmington	DE		-		6,141		21,140		7,969			6,141	$	29,109		35,250.00		11,593	1989	2004	30
300 Delaware Avenue	Wilmington	DE		-		6,369		13,739		1,991			6,369	$	15,729		22,099.00		8,202	1989	2004	23
	Total:		$	323,032	$	453,723	$	2,863,832	$	635,764		$	508,363	$	3,444,955	$	3,953,319	$	865,462

(a) Excludes the effect of any net interest premium/(discount) and deferred financing costs.

(b) Reconciliation of Real Estate:

The following table reconciles the real estate investments from January 1, 2016 to December 31, 2018 (in thousands):

	2018			2017			2016
Balance at beginning of year	$	3,832,348		$	3,659,886		$	4,487,588
Additions:
Acquisitions		509,654			62,586			-
Capital expenditures and assets placed into service		129,274			356,857			213,996
Less:
Dispositions/impairments/placed into redevelopment		(469,441	)		(189,395	)		(962,676	)
Retirements		(48,516	)		(57,586	)		(79,022	)
Balance at end of year	$	3,953,319		$	3,832,348		$	3,659,886
Less:
Assets held for sale		-			-			(73,591	)
Per consolidated balance sheet	$	3,953,319		$	3,832,348		$	3,586,295

The aggregate cost for federal income tax purposes is $3.3 billion as of December 31, 2018.

(c) Reconciliation of Accumulated Depreciation:

The following table reconciles the accumulated depreciation on real estate investments from January 1, 2016 to December 31, 2018 (in thousands):

	2018			2017			2016
Balance at beginning of year	$	895,091		$	885,392		$	1,080,616
Additions:
Depreciation expense		135,473			135,822			131,859
Less:
Dispositions/impairments/placed into redevelopment		(117,589	)		(74,178	)		(250,110	)
Retirements		(47,513	)		(51,945	)		(76,973	)
Balance at end of year	$	865,462		$	895,091		$	885,392
Less:
Assets held for sale		-			-			(32,916	)
Per consolidated balance sheet	$	865,462		$	895,091		$	852,476

(d) At acquisition it was determined that the useful life of the parking structure is five years, which reflects the expected demolition date.

(e) Building and improvements consists of capital improvements, which are depreciated over the lease term.

(f) Reflects original construction date. Significant improvements were made to 3000 Market Street in 1988 and The Bulletin Building in 2012.

(g) The property was partially placed into service during 2017.

(h) Represent leasehold interests in two land parcels, each acquired through prepaid 99-year ground leases.