RADNOR, Pa., Dec. 15, 2016 /PRNewswire/ -- Brandywine Realty Trust (NYSE: BDN) announced today that it has signed a long term lease with FreedomPay, Inc., a global leader in payment and commerce technologies, to lease 24,799 square feet at Brandywine's newly developed FMC Tower at Cira Centre South, in the University City section of downtown Philadelphia. FMC Tower is a progressively-designed, 725' Vertical Neighborhood, comprised of office, residential, hotel, restaurant, amenity, and elevated outdoor space.
With the explosion of new commerce technologies around the world like EMV, mobile wallets and bank card security, FreedomPay has experienced rapid growth and plans to move nearly 150 employees into its new Philadelphia corporate headquarters at FMC Tower. The company supports billions of transactions across disparate industries and has built its reputation on the ability to multiplex instore, online and on-mobile transactions seamlessly for both small business operators and the largest global enterprises.
The move enables FreedomPay to tap into the region's growing high tech presence with the potential for co-ops and work study programs with area universities, and reinforces FreedomPay's commitment to delivering the most innovative technology solutions for today's complex global commerce market.
"We have been a client of Brandywine for many years and have been tracking the FMC Tower project. Our decision to move into Philadelphia is a vote of confidence for the city itself and our desire to become an integral part of Philadelphia's emerging tech presence," said Tom Durovsik, Founder and Chief Executive Officer at FreedomPay.
In addition to its new North American headquarters, FreedomPay maintains west coast operations in Las Vegas, Nevada and is rapidly expanding throughout the European Union, Latin America and AsiaPac countries. The company partners with leading enterprises across many industries including; Visa, First Data, Citi Bank, Oracle and Microsoft.
"We are delighted with FreedomPay's decision to relocate its headquarters to University City and recognize it as yet another testament to the advantages offered by this location in terms of university collaboration and workforce development. These benefits, along with the incredible access to public transit and the amenity-rich urban environment, really establish a tremendous platform on which companies can plan long term growth," said Jerry Sweeney, President & Chief Executive Officer of Brandywine Realty Trust."
The FreedomPay Commerce Platform is the best way for merchants to simplify complex payment environments. Validated by the PCI Security Standards Council for Point-to-Point Encryption (P2PE) along with EMV, NFC and DCC capabilities, global leaders in retail, hospitality, gaming, education, healthcare and financial services trust FreedomPay to deliver unmatched security and advanced value added services. With broad integrations across top point-of-sale, device manufacturers and payment processors, supported by rapid API adoption, FreedomPay is driving the future of commerce and customer interaction. The FreedomPay Commerce Platform operates on the Windows Platform and is fully supported by the security and scalability of the Microsoft Azure cloud. For more information, go to www.freedompay.com.
About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 219 properties and 28.6 million square feet as of September 30, 2016, which excludes assets held for sale. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together. For more information, please visit www.brandywinerealty.com.
Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our and our affiliates' actual results, performance, achievements or transactions to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors relate to, among others: our ability to lease vacant space and to renew or relet space under expiring leases at expected levels; competition with other real estate companies for tenants; the potential loss or bankruptcy of major tenants; interest rate levels; the availability of debt, equity or other financing; risks of acquisitions, dispositions and developments, including the cost of construction delays and cost overruns; unanticipated operating and capital costs; our ability to obtain adequate insurance, including coverage for terrorist acts; dependence upon certain geographic markets; and general and local economic and real estate conditions, including the extent and duration of adverse changes that affect the industries in which our tenants operate. Additional information on factors which could impact us and the forward-looking statements contained herein are included in our filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2015. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events except as required by law.
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SOURCE Brandywine Realty Trust