Brandywine Realty Trust Agrees to Sell Philadelphia Property for $240M

What Happened
Brandywine Realty Trust (and its operating partnership) announced it entered into an Agreement of Sale on August 31, 2026 to sell its interest in a 441,000 square‑foot property at 3151 Market Street, Philadelphia, PA to an unrelated buyer for $240 million ($544 per square foot). The agreement was disclosed in an 8‑K filed September 3, 2026.

Key Details

• Purchase price: $240.0 million (approximately $544 per sq ft).
• Property size and occupancy: 441,000 sq ft; currently ~4% leased.
• Existing mortgage: $57.3 million mortgage on the property will be repaid at closing.
• Anticipated net proceeds: approximately $168 million to the Company.
• Earnest money: buyer delivered $5.0 million to escrow (non‑refundable except as specified in the agreement).
• Timing/conditions: closing is scheduled for September 30, 2026 (or earlier by mutual agreement) and is subject to customary closing conditions and termination rights; closing is not guaranteed.

Why It Matters
If the sale closes as expected, Brandywine would receive roughly $168 million in net proceeds and eliminate the $57.3 million mortgage tied to this largely vacant asset. For investors, this is a material disposition of a major Philadelphia office asset (low occupancy at 4%), which could affect Brandywine’s liquidity, debt profile, and asset portfolio. The transaction is subject to customary closing conditions and may not occur.