v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue        
Total revenue $ 128,920 $ 120,571 $ 255,924 $ 242,087
Operating expenses        
Property operating expenses 38,568 31,365 77,094 64,891
Real estate taxes 11,681 11,507 23,006 22,939
Third party management expenses 2,265 2,484 4,433 5,117
Depreciation and amortization 47,749 43,762 96,980 88,115
General and administrative expenses 9,263 9,325 21,598 26,795
Provision for impairment 0 63,369 11,909 63,369
Total operating expenses 109,526 161,812 235,020 271,226
Gain (loss) on sale of real estate        
Net gain (loss) on disposition of real estate 63 (86) 63 2,973
Total gain (loss) on sale of real estate 63 (86) 63 2,973
Operating income (loss) 19,457 (41,327) 20,967 (26,166)
Other income (expense):        
Interest and investment income 1,068 850 1,734 2,036
Interest expense (41,931) (32,345) (82,820) (64,190)
Interest expense - amortization of deferred financing costs (1,345) (1,197) (2,732) (2,427)
Equity in loss of unconsolidated real estate ventures (8,738) (14,832) (17,440) (25,343)
Net gain on real estate venture transactions 0 0 0 183
Loss on early extinguishment of debt (24) 0 (24) 0
Net loss before income taxes (31,513) (88,851) (80,315) (115,907)
Income tax provision (22) (85) (24) (85)
Net loss (31,535) (88,936) (80,339) (115,992)
Nonforfeitable dividends allocated to unvested restricted unitholders (248) (322) (566) (751)
Net loss attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P. $ (31,658) $ (88,991) $ (80,567) $ (116,395)
Basic loss per Common Partnership Unit (in dollars per share) $ (0.18) $ (0.51) $ (0.46) $ (0.67)
Diluted loss per Common Share (in dollars per share) $ (0.18) $ (0.51) $ (0.46) $ (0.67)
Basic weighted average common partnership units outstanding (in shares) 174,384,600 173,532,583 174,072,403 173,225,737
Diluted weighted average common partnership units outstanding (in shares) 174,384,600 173,532,583 174,072,403 173,225,737
Brandywine Operating Partnership, L.P.        
Revenue        
Total revenue $ 128,920 $ 120,571 $ 255,924 $ 242,087
Operating expenses        
Property operating expenses 38,568 31,365 77,094 64,891
Real estate taxes 11,681 11,507 23,006 22,939
Third party management expenses 2,265 2,484 4,433 5,117
Depreciation and amortization 47,749 43,762 96,980 88,115
General and administrative expenses 9,263 9,325 21,598 26,795
Provision for impairment 0 63,369 11,909 63,369
Total operating expenses 109,526 161,812 235,020 271,226
Gain (loss) on sale of real estate        
Net gain (loss) on disposition of real estate 63 (86) 63 2,973
Total gain (loss) on sale of real estate 63 (86) 63 2,973
Operating income (loss) 19,457 (41,327) 20,967 (26,166)
Other income (expense):        
Interest and investment income 1,068 850 1,734 2,036
Interest expense (41,931) (32,345) (82,820) (64,190)
Interest expense - amortization of deferred financing costs (1,345) (1,197) (2,732) (2,427)
Equity in loss of unconsolidated real estate ventures (8,738) (14,832) (17,440) (25,343)
Net gain on real estate venture transactions 0 0 0 183
Loss on early extinguishment of debt (24) 0 (24) 0
Net loss before income taxes (31,513) (88,851) (80,315) (115,907)
Income tax provision (22) (85) (24) (85)
Net loss (31,535) (88,936) (80,339) (115,992)
Net loss attributable to noncontrolling interests - consolidated real estate ventures 30 0 97 0
Net loss attributable to Brandywine Operating Partnership, L.P. (31,505) (88,936) (80,242) (115,992)
Nonforfeitable dividends allocated to unvested restricted unitholders (248) (322) (566) (751)
Net loss attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P. $ (31,753) $ (89,258) $ (80,808) $ (116,743)
Basic loss per Common Partnership Unit (in dollars per share) $ (0.18) $ (0.51) $ (0.46) $ (0.67)
Diluted loss per Common Share (in dollars per share) $ (0.18) $ (0.51) $ (0.46) $ (0.67)
Basic weighted average common partnership units outstanding (in shares) 174,900,195 174,048,178 174,587,997 173,741,332
Diluted weighted average common partnership units outstanding (in shares) 174,900,195 174,048,178 174,587,997 173,741,332
Rents        
Revenue        
Total revenue $ 122,698 $ 114,196 $ 243,355 $ 228,624
Rents | Brandywine Operating Partnership, L.P.        
Revenue        
Total revenue 122,698 114,196 243,355 228,624
Third party management fees, labor reimbursement and leasing        
Revenue        
Total revenue 4,063 4,873 8,788 10,702
Third party management fees, labor reimbursement and leasing | Brandywine Operating Partnership, L.P.        
Revenue        
Total revenue 4,063 4,873 8,788 10,702
Other        
Revenue        
Total revenue 2,159 1,502 3,781 2,761
Other | Brandywine Operating Partnership, L.P.        
Revenue        
Total revenue $ 2,159 $ 1,502 $ 3,781 $ 2,761