Here are the 10-Q quarterly reports from Brandywine Realty Trust (BDN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BDN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BDN filings page.
Brandywine Realty Trust (BDN) reported third-quarter 2026 net loss attributable to common shareholders of $22.3 million on revenue of $125.6 million; for the nine months ended September 30, 2026, common-shareholder net loss was $102.8 million on revenue of $381.6 million. Third-quarter revenue was $125.6 million versus $121.4 million a year earlier, while common-shareholder net loss narrowed from $26.2 million to $22.3 million. The quarter included a $55.7 million net gain on real estate dispositions, a $29.1 million impairment provision, and a $15.4 million loss on early debt extinguishment.
During the quarter, the company repurchased and retired 4,666,266 common shares at an average price of $3.19 per share, totaling $14.9 million. Nine-month operating cash flow was $84.4 million; cash and equivalents were $312.7 million and total debt obligations were $2.410 billion as of September 30, 2026. Core-property occupancy was 89.0%, compared with 88.8% a year earlier, while Austin occupancy was 66.4% versus 77.2%. The company completed four office-property sales during the quarter, including a 441,000-square-foot property in the Pennsylvania Central Business District segment for $240.0 million; it recorded a $29.1 million impairment on that property before the sale.
Brandywine Realty Trust (BDN) and its operating partnership reported higher revenue but continued losses for the quarter ended June 30, 2026. Total revenue was $128.9 million versus $120.6 million a year earlier, driven mainly by rent of $122.7 million. Net loss attributable to common shareholders narrowed to $31.7 million from $89.0 million in 2025, helped by lower impairment charges, but interest expense rose to $41.9 million from $32.3 million.
For the first half of 2026, revenue reached $255.9 million and net loss attributable to common shareholders was $80.6 million. Consolidated net operating income was $76.4 million for the quarter and $151.4 million year-to-date. Cash provided by operating activities was $45.8 million, while investing activities used $97.9 million, largely for development, tenant improvements and investments in unconsolidated ventures. Financing activities provided $28.4 million, including new secured borrowing and net credit facility draws.
At June 30, 2026, Brandywine had $3.54 billion in total assets and $2.62 billion of debt, with major unsecured note and term loan maturities concentrated in 2027–2029. Cash and restricted cash totaled $38.7 million. The company classified $232.9 million of assets as held for sale and agreed to multiple office and parking property sales, some completed in July 2026. The board declared a quarterly common distribution of $0.08 per share/unit. The portfolio comprised 59 properties with about 11.5 million net rentable square feet plus meaningful development land and interests in seven unconsolidated real estate ventures.
Brandywine Realty Trust and Brandywine Operating Partnership reported a much weaker quarter for the period ended March 31, 2026. Total revenue rose to $127.0 million from $121.5 million, but net loss widened to $48.8 million compared with $27.1 million a year earlier.
The larger loss reflects higher depreciation and amortization, a $11.9 million impairment charge, lower gains on real estate sales and continued losses from unconsolidated real estate ventures. Interest expense increased to $40.9 million, underscoring the burden of $2.62 billion in total debt.
The Company owns 64 properties totaling about 12.3 million square feet, plus interests in seven unconsolidated ventures. Cash and restricted cash were $66.3 million. Brandywine declared a $0.08 per share distribution and repurchased 700,000 common shares at an average price of $3.10 during the quarter.
Brandywine Realty Trust (BDN) reported a Q3 2025 net loss attributable to common shareholders of $26.2 million, or $0.15 per diluted share, on total revenue of $121.4 million. Operating income was $25.2 million, but higher interest expense and losses from unconsolidated ventures drove the bottom line.
Revenue declined versus last year as rents softened and third-party fees decreased. Year-to-date, the company recorded $63.4 million of impairment, and interest expense rose to $97.1 million. The board declared a Q3 distribution of $0.08 per share. Brandywine closed a $55.1 million Austin office sale during the quarter and sold a Richmond land parcel for $4.6 million on October 6, 2025.
On October 22, 2025, Brandywine acquired its partner’s preferred equity interest in the 3025 JFK venture for $70.5 million, resulting in full ownership and assumption of a $178.0 million secured construction loan maturing in July 2026. Unsecured senior notes outstanding increased to $1.78 billion from $1.62 billion at year-end, and total debt rose to $2.27 billion. Common shares outstanding were 173,699,039 as of November 2, 2025.