Brandywine Realty Trust Announces Pricing of Upsized Public Offering of Common Shares

Apr 05, 2013, 08:30 ET from Brandywine Realty Trust

RADNOR, Pa., April 5, 2013 /PRNewswire/ -- Brandywine Realty Trust (the "Company") (NYSE: BDN), the sole general partner of Brandywine Operating Partnership, L.P. (the "Operating Partnership"), announced today that it has increased its previously announced underwritten public offering from 10,000,000 to 11,000,000 common shares and has priced it for expected gross proceeds of $161,700,000 before underwriting discounts and commissions and estimated offering expenses payable by us. The Company has also granted the underwriters a 30-day option to purchase up to 1,650,000 additional common shares.  The offering is expected to close on or about April 10, 2013, subject to customary closing conditions.  BofA Merrill Lynch and Citigroup are acting as the joint book-running managers for the offering and propose to offer the shares at prevailing market prices or otherwise from time to time through the NYSE, the over-the-counter market, negotiated transactions or otherwise.

The Company intends to contribute the net proceeds of this offering to the Operating Partnership in exchange for partnership units of the Operating Partnership.  The Operating Partnership intends to use the net proceeds for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and repayment, repurchase and refinancing of debt.

The offering is being made pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission and a related prospectus and prospectus supplement.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained (when they become available) by contacting BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or by emailing or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:  1-800-831-9146.  A copy of the prospectus supplement and accompanying prospectus may also be obtained (when available) without charge by visiting EDGAR on the SEC website at

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States.  Organized as a real estate investment trust and operating in select markets, Brandywine owns, leases and manages an urban, town center and suburban office portfolio comprising 297 properties and 34.6 million square feet, including 221 properties and 25.1 million square feet owned on a consolidated basis and 57 properties and 7.0 million square feet in 19 unconsolidated real estate ventures all as of December 31, 2012. 

Forward-Looking Statements

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 the actual results, performance, achievements or transactions of the Company and its affiliates or industry results 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, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions.  Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2012.  The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

SOURCE Brandywine Realty Trust