Brandywine Realty Trust has completed the sale of a 441,000-square-foot office building located at 3151 Market Street in Philadelphia, Pennsylvania. The transaction was executed on September 30, 2026, with the property being sold to an unrelated third party. The building includes one level of below-grade parking containing 70 parking spaces.
The Company reported the sales price for the property was $240.0 million, resulting in net proceeds of approximately $233.7 million. In connection with the disposition, Brandywine repaid a $57.3 million Commercial Property Assessed Clean Energy (C-PACE) loan that was encumbered by the property. The repayment included the net carrying value of the loan of $56.1 million and $3.3 million in prepaid interest.
Brandywine has filed unaudited pro forma financial information to reflect the impact of this transaction. The pro forma data indicates that the sale resulted in an increase in cash and cash equivalents of approximately $173.5 million and a reduction in operating real estate investments of $258.8 million. The pro forma financials also show a reduction in depreciation and amortization expenses of $3.1 million for the six months ended June 30, 2026, and a reduction of $206.0 million for the year ended December 31, 2025.
