v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (80,339) $ (115,992)
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 96,980 88,115
Amortization of deferred financing costs 2,732 2,427
Amortization of debt discount/(premium), net (935) 240
Amortization of stock compensation costs 5,959 13,912
Straight-line rent income (2,736) (1,465)
Amortization of acquired above (below) market leases, net (329) (404)
Ground rent expense 625 387
Total gain on sale of real estate (63) 0
Provision for impairment 11,909 63,369
Loss from unconsolidated real estate ventures, including income distributions 17,440 25,344
Income tax provision 24 85
Changes in assets and liabilities:    
Accounts receivable 2,432 (3,289)
Other assets (4,725) (1,059)
Accounts payable and accrued expenses (3,811) (10,580)
Deferred income, gains and rent (617) (18,182)
Other liabilities 1,275 (2,204)
Net cash provided by operating activities 45,821 40,704
Cash flows from investing activities:    
Acquisition of real estate investments (1,663) 0
Proceeds from the sale of properties 15,525 17,260
Capital expenditures for tenant improvements (33,162) (39,524)
Capital expenditures for redevelopments (1,872) (4,766)
Capital expenditures for developments (26,632) (17,656)
Advances for the purchase of tenant assets, net of repayments (194) (247)
Investment in unconsolidated real estate ventures (45,997) (7,248)
Capital distributions from unconsolidated real estate ventures 6,031 2,422
Leasing costs paid (9,886) (6,726)
Net cash used in investing activities (97,850) (56,485)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 295,000 110,000
Repayments of credit facility borrowings (146,000) (110,000)
Proceeds from unsecured notes 0 159,000
Repayment of unsecured term loan 0 (70,000)
Proceeds from construction loan 0 10,636
Repayments of construction loan (179,847) 0
Proceeds from secured term loan 90,000 0
Debt financing costs paid (625) (2,141)
Shares used for employee taxes upon vesting of share awards 470 (1,404)
Repurchase and retirement of common shares (2,163) 0
Distributions paid to preferred and common partnership units (28,284) (52,574)
Net cash provided by financing activities 28,427 43,363
Increase/(Decrease) in cash and cash equivalents and restricted cash (23,602) 27,582
Cash and cash equivalents and restricted cash at beginning of period 62,302 96,177
Cash and cash equivalents and restricted cash at end of period 38,700 123,759
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 32,284 90,229
Restricted cash, beginning of period 30,018 5,948
Cash and cash equivalents and restricted cash at beginning of period 62,302 96,177
Cash and cash equivalents, end of period 37,870 122,645
Restricted cash, end of period 830 1,114
Cash and cash equivalents and restricted cash at end of period 38,700 123,759
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the six months ended June 30, 2026 and 2025 of $1,625 and $6,342, respectively 81,874 58,031
Cash paid for income taxes 24 1
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 14,203 26,457
Change in capital expenditures financed through accounts payable at period end (5,230) (10,714)
Change in capital expenditures financed through retention payable at period end 1,176 426
Brandywine Operating Partnership, L.P.    
Cash flows from operating activities:    
Net loss (80,339) (115,992)
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 96,980 88,115
Amortization of deferred financing costs 2,732 2,427
Amortization of debt discount/(premium), net (935) 240
Amortization of stock compensation costs 5,959 13,912
Straight-line rent income (2,736) (1,465)
Amortization of acquired above (below) market leases, net (329) (404)
Ground rent expense 625 387
Total gain on sale of real estate (63) 0
Provision for impairment 11,909 63,369
Loss from unconsolidated real estate ventures, including income distributions 17,440 25,344
Income tax provision 24 85
Changes in assets and liabilities:    
Accounts receivable 2,432 (3,289)
Other assets (4,725) (1,059)
Accounts payable and accrued expenses (3,811) (10,580)
Deferred income, gains and rent (617) (18,182)
Other liabilities 1,275 (2,204)
Net cash provided by operating activities 45,821 40,704
Cash flows from investing activities:    
Acquisition of real estate investments (1,663) 0
Proceeds from the sale of properties 15,525 17,260
Capital expenditures for tenant improvements (33,162) (39,524)
Capital expenditures for redevelopments (1,872) (4,766)
Capital expenditures for developments (26,632) (17,656)
Advances for the purchase of tenant assets, net of repayments (194) (247)
Investment in unconsolidated real estate ventures (45,997) (7,248)
Capital distributions from unconsolidated real estate ventures 6,031 2,422
Leasing costs paid (9,886) (6,726)
Net cash used in investing activities (97,850) (56,485)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 295,000 110,000
Repayments of credit facility borrowings (146,000) (110,000)
Proceeds from unsecured notes 0 159,000
Repayment of unsecured term loan 0 (70,000)
Proceeds from construction loan 0 10,636
Repayments of construction loan (179,847) 0
Proceeds from secured term loan 90,000 0
Debt financing costs paid (625) (2,141)
Shares used for employee taxes upon vesting of share awards 470 (1,404)
Repurchase and retirement of common shares (2,163) 0
Distributions paid to preferred and common partnership units (28,408) (52,728)
Net cash provided by financing activities 28,427 43,363
Increase/(Decrease) in cash and cash equivalents and restricted cash (23,602) 27,582
Cash and cash equivalents and restricted cash at beginning of period 62,302 96,177
Cash and cash equivalents and restricted cash at end of period 38,700 123,759
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 32,284 90,229
Restricted cash, beginning of period 30,018 5,948
Cash and cash equivalents and restricted cash at beginning of period 62,302 96,177
Cash and cash equivalents, end of period 37,870 122,645
Restricted cash, end of period 830 1,114
Cash and cash equivalents and restricted cash at end of period 38,700 123,759
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the six months ended June 30, 2026 and 2025 of $1,625 and $6,342, respectively 81,874 58,031
Cash paid for income taxes 24 1
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 14,203 26,457
Change in capital expenditures financed through accounts payable at period end (5,230) (10,714)
Change in capital expenditures financed through retention payable at period end $ 1,176 $ 426