BlackRock reports 16.5% stake in Brandywine Realty Trust (BDN)

Rhea-AI Filing Summary

BlackRock, Inc. has filed an amended Schedule 13G reporting a significant passive ownership stake in Brandywine Realty Trust common stock. BlackRock reports beneficial ownership of 28,682,165 shares, representing 16.5% of the outstanding common stock, with sole voting power over 28,373,048 shares and sole dispositive power over 28,682,165 shares.

The filing states that the securities are held in the ordinary course of business and are not held for the purpose of changing or influencing control of Brandywine Realty Trust. It also notes that iShares Core S&P Small-Cap ETF has an interest in more than five percent of the issuer’s common stock.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

BRANDYWINE REALTY TRUST

(Name of Issuer)

Common Stock

(Title of Class of Securities)

105368203

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 105368203

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 28,373,048.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 28,682,165.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

28,682,165.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BRANDYWINE REALTY TRUST
(b)	Address of issuer's principal executive offices: 2929 ARCH STREET, SUITE 1800 PHILADELPHIA PA 19104
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 105368203
Item 4.	Ownership
(a)	Amount beneficially owned: 28682165
(b)	Percent of class: 16.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 28373048
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 28682165
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The interest of 1 such person, iShares Core S&P Small-Cap ETF, in the common stock of BRANDYWINE REALTY TRUST is more than five percent of the total outstanding common stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	01/21/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What percentage of Brandywine Realty Trust (BDN) shares does BlackRock report owning?

BlackRock, Inc. reports beneficial ownership of 16.5% of Brandywine Realty Trust’s common stock, based on 28,682,165 shares beneficially owned.

How many Brandywine Realty Trust (BDN) shares does BlackRock beneficially own?

BlackRock, Inc. reports beneficial ownership of 28,682,165 shares of Brandywine Realty Trust common stock, with sole voting power over 28,373,048 shares.

Is BlackRock seeking to influence control of Brandywine Realty Trust (BDN)?

The certification states that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing the control of Brandywine Realty Trust.

Which BlackRock-related entity holds more than 5% of Brandywine Realty Trust (BDN)?

The filing notes that iShares Core S&P Small-Cap ETF has an interest in more than five percent of Brandywine Realty Trust’s total outstanding common stock.

What type of filing did BlackRock submit for Brandywine Realty Trust (BDN)?

BlackRock, Inc. submitted an Amendment No. 4 to Schedule 13G reporting its beneficial ownership of Brandywine Realty Trust common stock.

What is BlackRock’s role classification in this Brandywine Realty Trust (BDN) filing?

BlackRock, Inc. is classified as an HC (holding company) in the ownership information provided.